MasterCard Canada has announced that it has added three new directors to its board from the acquiring side of the business.

"The addition of more acceptance-side representation on the board epitomizes MasterCard's commitment to transparency and being the best business partner in payments," said Kevin Stanton, President, MasterCard Canada. "We take a holistic view of Canadian payments. MasterCard Canada's Board felt strongly that enhancing acceptance-side representation in our governance would be important to ensuring higher-quality decision making and to position MasterCard to lead the Canadian payments industry."

Jennifer Saranow reports for the Wall St. Journal on the new fee that Visa USA plans to begin levying April 1st on charges made outside the cardholder's home country.

China's People's Daily Online reports on Visa's plans to grow in China.

Jim Allhusen, Visa International's executive vice-president for Asia-Pacific and general manager of Greater China region and the Philippines, said yesterday the company would leverage on its sponsorship of the Beijing Olympics.

Against competitors such as MasterCard and American Express as well as traveller's cheques and cash, Visa expects to double the 7.8 per cent market share it recorded in the world's seventh-largest tourist destination last year.