Colleagues within the Canadian cannabis retail sector, each of our establishments, whether independent or part of a larger chain, grapple daily with the tightrope of fierce competition and slender profit margins. Since the legalization of cannabis, Mastercard has imposed a $500 USD annual fee per merchant account through their Specialty Merchant Registration Program (SMRP) outlined in Sections 9.1 and 9.2.1 of their SPME Manual. In contrast, Visa refrains from levying such a charge. In an industry where every dollar is scrutinized, this cumulative cost becomes a significant burden.

The heart of the matter goes beyond the immediate financial pinch; it's about the unjust principle behind the fee. Perhaps in the nascent stages of our industry post-legalization, some may argue that a conservative approach was warranted. Yet, our commendably low chargeback rates, standing at a mere 0.5%, underscore the unjustifiable nature of this fee. We've consistently demonstrated our reliability and commitment, thus making such fees not only redundant but also discriminative, especially when parallel sectors, like alcohol, remain unburdened.

The time for collective action is now. As an industry, we've matured, evolved, and proved our mettle. By banding together and signing this petition, we champion the principles of fairness and equity for every cannabis retailer in Canada. It's not merely about a fee; it's about standing up against unwarranted disparities. Even though Mastercard only processes 5.7% of all cannabis transactions in Canada, and we could simply refuse to accept Mastercard, we can't let big corporate greed continue to take advantage of dispensary entrepreneurs. Lend your signature and join the collective voice advocating for just treatment in our industry.