MasterCard Canada Press Section

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Statement from MasterCard Canada

TORONTO, June 18, 2010 – MasterCard Canada looks forward to participating in the consultative process undertaken by the Task Force for the Payments System Review, announced today by the Minister of Finance.

“MasterCard looks forward to the opportunity to discuss the important role card payments play in helping maintain a well-functioning financial system in Canada,” said Jennifer Reed, Vice President, Government Relations and Communications.

The Canadian credit card payment system is an important source of credit for Canadian consumers, and provides secure, innovative and reliable, guaranteed payment processing for merchants. 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. More than $260 billion in Canadian commerce is expedited on the credit card systems annually.

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 22 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 Follow us on Twitter: @mastercardnews.

For more information, please contact:

Jennifer Reed
MasterCard Canada