MasterCard Canada Press Section

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MasterCard Submits Comments on Draft Code of Conduct

TORONTO, January 18, 2010 – MasterCard Canada has submitted its comments on the Minister of Finance’s Draft Code of Conduct for the Credit and Debit Industry.

Overall MasterCard supports the objectives of the Code and is not recommending dramatic changes to the draft. Its comments were limited to clarification, details of operational implementation, and commercial viability.

The draft Code balances the interests of various players in the payments system including addressing the concerns of small merchants. MasterCard recommends the maintenance of that equilibrium as the Code is finalized.

MasterCard is confident that under the current principles of the draft Code vigorous debit competition can thrive in Canada. Such vigorous competition will benefit all parties including consumers and merchants.

MasterCard’s focus is, and will continue to be, operating reliable, efficient, convenient and secure payment systems that deliver value to all stakeholders in Canada’s payments market.

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. Powered by the MasterCard Worldwide Network and 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. Follow us on Twitter: @mastercardnews.

For more information, please contact:

Jennifer Reed
MasterCard Canada
416-365-6664
jennifer_reed@mastercard.com