MasterCard Canada Responds to Retailer Concerns
In a press release, MasterCard Canada said it "has accepted an opportunity to appear before the Senate Standing Committee on Banking, Trade and Commerce in order to discuss the payments industry, as well as to address the significant misinformation being propagated by retail sector lobbyists." MasterCard Canada also has a web site on the subject of interchange fees called InterchangeTruth.com.
"The many benefits Canadian merchants receive from card acceptance continue to be downplayed," said Kevin Stanton, President, MasterCard Canada. "I look forward to the opportunity to discuss the important role card payments play in helping maintain a well-functioning financial system in Canada."
The Canadian credit card payment system works well and is an important source of credit for Canadian consumers, and provides secure, reliable, guaranteed payment processing for merchants. There is vigorous competition, continual product improvements, and global usage. Canada has fostered a healthy financial industry that is responsive to marketplace and consumer needs and continually improves its offers and services while managing exposure to risk.
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