Canada's debit card market is in turmoil as payment processors begin "aggressively marketing" new Visa and MasterCard debit cards to retailers, a leading merchant organization says.



The retailers fear the credit card companies' entry into Canada's $168 billion debit market will mean higher fees for them.



"We've been overwhelmed by calls from small merchants," Diane Brisebois, president and chief executive officer of the Retail Council of Canada, said in a telephone interview. "We can't believe some of the stories we're hearing."



Canada's debit market is currently dominated by Interac, a low-cost, non-profit member-owned association, which charges merchants a flat fee per transaction.



The Canadian Federation of Independent Business said it's also receiving complaints from members, who are confused because the new debit products are being introduced at the same time as the CHIP-enabled card readers...



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