20 February 2018
Visit www.capgemini.com/worldreports

Canadian Competition Tribunal finds in favour of MasterCard

23 July 2013  |  1368 views  |  0 Source: MasterCard

The Competition Tribunal today reaffirmed three MasterCard rules, assuring Canadian credit card users won't be hit with surcharges at the cash register and keeping the path clear for innovative new payment products in Canada. Specifically the Tribunal upheld MasterCard Canada's No-Surcharge, Honour-All-Cards and No-Discrimination rules.

"We want our cardholders to know that wherever they see the MasterCard emblem they can use any MasterCard confidently without extra charges tacked on and without discrimination," said Betty K. DeVita, President, MasterCard Canada .

Ms. DeVita said the ruling is also good news for merchants. "We only succeed when retailers and consumers succeed," said Ms. DeVita . "The data proves that retailers that accept MasterCard see an increase in sales and reduce their costs of handling cash and record keeping. We are pleased that we will continue to be able to protect consumers from unfair or unexpected fees at checkout."

The Tribunal ruling also serves to promote innovation in the Canadian payments sector. As the operator of one of the world's most sophisticated payment network, MasterCard provides the infrastructure and services that enable financial institutions to offer credit cards and that instantaneously manage the transaction between a retailer and the credit card user's financial institution.

"We are committed to investing in leading-edge payment technologies to continue to secure Canada's position as a world leader in payment innovations. We are continuously innovating and investing in new payment systems, including ground-breaking work in mobile technologies," said Ms. DeVita .

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.vasco.comvisit www.nextgenbanking.co.ukVisit http://info.nice.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11862 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
9571 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9340 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8135 views comments | 13 tweets | 12 linkedin
FCA explores creation of global sandboxFCA explores creation of global sandbox
7391 views comments | 19 tweets | 18 linkedin

Featured job

Six-Figure-Base, Double OTE, Benefits Package
London, UK

Find your next job