Visa Canada Supports Enhancements to the Code of Conduct for the Credit and Debit Card Industry

May 7, 2015 - (Toronto, ON), Visa is pleased today to reaffirm its commitment to the Code of Conduct for the Credit and Debit Card Industry (‘’the Code’’) as enhancements are introduced by the Government of Canada.

Since the Code’s adoption in 2010, Visa has consistently supported the Government of Canada in their efforts to provide greater transparency of the costs and contractual terms associated with accepting credit and debit cards.

The enhancements brought forward today are in keeping with Visa’s position that Canadian merchants and consumers should have access to and benefit from the most recent innovative payment technologies. To that end, Visa is pleased that the Code of Conduct is now applicable to mobile payments.

Visa will continue to work with the Financial Consumer Agency of Canada, the Minister of Finance, along with FinPay representatives and industry stakeholders, to ensure ongoing dialogue and the promotion of a competitive, efficient and secure payment system in Canada.

About Visa

Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 47,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products.

 

Media Contact:

Michelle Michalak,Visa Canada

Media Hotline: 416-860-3939

Email: [email protected]