Statement from MasterCard Canada re: CFIB Proposal
TORONTO, July 7, 2009 – MasterCard Canada agrees with the Canadian Federation of Independent Business that a non-regulated solution to small merchant concerns about credit and debit card acceptance is best.
MasterCard has already been in discussions with the CFIB and made proposals to address issues of concern and has requested and received details of the CFIB proposal today. MasterCard looks forward to continued productive discussions in upcoming meetings.
Canada has a dynamic and well-functioning payments system where merchants and consumers enjoy unparalleled access to numerous payment methods.
“Any consideration of changes to the system needs to look at the realistic impacts on consumers to make safe, secure and convenient purchases and merchants to conduct business effectively,” said Kevin Stanton, President, MasterCard Canada. “We applaud the CFIB’s proposal as a good start toward reaching a commercial solution that addresses small merchant concerns without harming or disrupting a payments system that flawlessly facilitates over $260 billion in Canadian commerce each year. MasterCard continues to work with the retail sector towards practical, meaningful solutions that serve the best interests of both consumers and merchants.”
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
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