Canada to cut credit card transaction fees for small businesses

Oct 1 (Reuters) - Canada will reduce credit card transaction fees for small businesses by up to 27% starting on Oct 19, Finance Minister Chrystia Freeland said in a statement on Tuesday.

The cut could save eligible businesses over C$1 billion ($740,000) over five years, she said.

($1 = $1.35 Canadian)

(Reporting by Nivedita Balu, editing by David Ljunggren)