24 October 2017
Find out more

Canadian Competition Tribunal finds in favour of MasterCard

23 July 2013  |  1351 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.atos.netvisit www.vasco.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
20026 views comments | 31 tweets | 43 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15325 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
11056 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
9182 views comments | 15 tweets | 29 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job