(March 14 – 11:35 ET) – National Bank of Canada has become the newest MasterCard alliance member for CIBC’s Merchant’s EDGE program. Both financial institutions signed a preliminary agreement to move forward with this initiative. National Bank is planning to be completely phased in as a CIBC Merchant’s EDGE partner by mid-summer.
This program provides retailers with the simplicity of depositing VISA, MasterCard, American Express and Interac Direct Payment card sales into one single business banking account with same day value and next day access to deposited funds.
CIBC Merchant’s EDGE program was launched in 1993. It enables Canadian retailing by providing faster access to funds, easier reconciliation and one bank account for all
major credit cards.
-IE Staff