(Sept 4): When Eric Chan first applied to get a credit card terminal for his business, he found himself faced with questions he could not answer.
“For instance: What is the average transaction size? What is the amount [of sales] per month? How would we know that in our first month of operation?” says the co-founder of patisserie and restaurant Mad about Sucre.
As Chan was not able to answer their questions, the banks could not figure out what to charge him and how much they would earn.