Tuesday, November 24, 2009

CSC Advisory: Debit/Credit card voluntary code code of conduct

On November 19, the Minister of Finance announced a proposed voluntary code of conduct governing debit and credit cards. It’s now open for public consultations. More information, including the press release and background information, is below. The focus of the agreement includes:

  • Ensuring that merchants are fully aware of the costs associated with accepting credit and debit card payments.
  • Providing merchants with increased pricing flexibility to encourage consumers to choose the lowest-cost payment option.
  • Allowing merchants to freely choose which payment options they will accept.

As you probably are aware, changes in the debit/credit card industry have created a situation where merchants pay a variety of different fees on the cards, and often the only time that they actually find out is when they get the bill in the mail. Criticism of this from retail groups has helped gestate this.

CSC will be making a submission in this public consultation process. Members will be advised when the document is available on the CSC site.

Government press release is here:

http://www.fin.gc.ca/n08/09-109-eng.asp

Backgrounder is here:

http://www.fin.gc.ca/n08/data/09-109_1-eng.asp

Brief globe story is here:

http://www.theglobeandmail.com/report-on-business/new-conduct-code-for-credit-debit/article1369712/

3 comments:

Anonymous said...

It's awesome designed for me to have a web page, which is useful in support of my experience. thanks admin

Feel free to surf to my web site :: http://competitors.wvcombatsports.com/groups/why-every-single-person-is-talking-about-pure-green-coffee-bean-extract/

Anonymous said...

Greetings! I know this is somewhat off topic but I was wondering which blog platform are you using for this website? I'm getting tired of Wordpress because I've had problems with hackers and I'm looking at alternatives for another platform. I would be awesome if you could point me in the direction of a good platform.|
[url=http://instantonlinepayday.co.uk/]pay day loans uk
[/url]

Anonymous said...

Greetіngs from Hemer, Germany.Doеs youг blog
get а bunch оf spam commеntѕ? I'm a blogger too and I'm
wondering how many people have the same problem. Many of us hаve developed some beneficial technіques and
we агe seeking to ехchange idеas ωith others.
Why not shoot me аn е-mail if interested?


Μy web blog ... 44323

Textbook News Headlines