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Flaherty Warns to Respect Voluntary Code

Sunday, November 22, 2009, 15:52
Carousel, Credit Cards, Master Card, News, VISA
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Federal Finance Minister Jim Flaherty warned companies and banks that if they do not comply with a proposed voluntary code of conduct for the credit and debit card markets, he will be bring down the “hammer” of regulation. The code, which is designed to address merchants’ claims they are being unfairly treated, draws ... Full story

Tags: Bank of Montreal, bank of montreal mastercard, canadian bankers association, card readers, chip card, competitive marketplace, consumer choice, credit card giants, debit card markets, debit cards, federal finance minister, finance minister jim flaherty, global credit card, interac association, maestro, market competition, payment processors, voluntary code

Flaherty Unveils Credit Card and Debit Card Code of Conduct

Friday, November 20, 2009, 9:45
Carousel, Credit Cards, Master Card, News, VISA
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Finance Minister Jim Flaherty has finally unveiled his long awaited proposed voluntary code of conduct for Canada’s multibillion-dollar credit and debit card industries. Within the proposed voluntary code of conduct, you will find a number of measures that will address the complaints brought forward by merchants. Flaherty noted that the proposed code is ... Full story

Tags: credit card networks, credit card payments, debit and credit, debit card payments, debit payments, dollar credit, fee changes, finance minister jim flaherty, financial institutions, interac association, multibillion dollar, payment processors, premium credit, secure payment system, visa card, visa mastercard, voluntary code

Weekly News Watch 19

Saturday, November 7, 2009, 1:00
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This past week, we have seen several interesting pieces of news come out this week. One of which was the recent figure of $300 million being the cost of processing fees if Visa Canada acquires just 20% of the debit market next year. This figure comes from the Retail Council of Canada, and ... Full story

Tags: consultations, consumers, controversial industry, debit card, finance committee, finance minister jim flaherty, higher finance, house of commons, interac association, interchange fee, merchants, ottawa, retail council of canada, visa canada, voluntary code

Flaherty Pressed to Get Tougher on Behalf of Merchants

Tuesday, November 3, 2009, 10:00
Carousel, Credit Cards, News
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Finance Minister Jim Flaherty has to raise consumer and merchant protections in the multi-billion dollar credit and debit market, by rooting out a slew of controversial industry practices, which includes double cycle billing, notes members of the Liberal caucus on Nov. 2nd. The voluntary code of conduct that Flaherty is bringing ... Full story

Tags: business groups, canadian bankers association, card acceptance, code of conduct, credit card statements, dollar credit, finance minister jim flaherty, interac association, interest rates, liberal caucus, maestro, retail council of canada, visa canada, voluntary code

Visa and MasterCard Co-badging

Friday, October 30, 2009, 7:00
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Visa Canada came out to say that there is a big misperception that its new debit product is designed to rid Canada of its existing low cost service run by Interac Association. Critics go as far as to say that Visa debit is putting non-profit Interac in a bind as they begin to ... Full story