MasterCard Canada Position on Pro-Consumer Rules
TORONTO, May 8, 2012 – The MasterCard Canada rules that the Canadian Competition Bureau has challenged were established to protect consumers and ensure the efficient operation of the MasterCard payments system. We function in a very competitive market and compete every day for consumer preference and merchant acceptance.
If successful, the Competition Bureau’s action’s could expose Canadian consumers to unfair checkout fees or gouging when they use their cards to pay. Under our rules, merchants are free to encourage consumers to use other forms of payment and even to offer discounts for cash, cheque or any other payment option the merchant prefers.
In addition, MasterCard Canada’s Honour All Cards rule protects consumers by eliminating the uncertainty about whether and where their cards will be accepted. Preventing merchants from picking and choosing which MasterCard cards they accept is recognized as an important consumer protection and, for this reason, no jurisdiction in the world has banned the Honour All Cards rule.
We intend to vigorously defend the merits of our pro-consumer policies to ensure our cardholders continue to be protected.
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities – such as shopping, travelling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.
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