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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.

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For more information, please contact:

Jennifer Reed
MasterCard Canada