Finance committee  I do see that. I think the company sees that. It's why I think we've tried to improve, just over the last year our two, our transparency on our rate structure, our rules. I think we can improve the number of resources that we put in direct contact with the merchant community. Pro

Finance committee  Card issuers are one part of the payment system. They certainly are a beneficiary of interchange. As we have established, it flows to them, but we have other constituencies here in the merchants and the acquirers, and if the interchange rates aren't set with those perspectives in

Finance committee  I can speak generally. We have announced and made illustrations publicly, as my colleague mentioned. We do have some restrictions in that our fee structures are confidential with our clients, but in investor presentations we have described how that works generally. For every tra

Finance committee  Typically, it would be less than 10%.

Finance committee  It would be less than 10% of the interchange.

Industry committee  I do see that. I think the company sees that. It's why I think we've tried to improve, just over the last year our two, our transparency on our rate structure, our rules. I think we can improve the number of resources that we put in direct contact with the merchant community. Pro

Industry committee  Card issuers are one part of the payment system. They certainly are a beneficiary of interchange. As we have established, it flows to them, but we have other constituencies here in the merchants and the acquirers, and if the interchange rates aren't set with those perspectives in

Industry committee  I can speak generally. We have announced and made illustrations publicly, as my colleague mentioned. We do have some restrictions in that our fee structures are confidential with our clients, but in investor presentations we have described how that works generally. For every tra

Industry committee  Typically, it would be less than 10%.

Industry committee  It would be less than 10% of the interchange.

Finance committee  I believe I've testified, and I'm happy to go over it. The interchange rate structure is quite simple. We want to provide a rate structure that motivates banks to participate in issuing the cards, promoting them, and investing in innovation, along with a rate structure where, w

Finance committee  Very simply, the reason we set the fee is to encourage network participation from the banks. We want banks to be active in marketing their services and signing up merchants. We want banks to be active in issuing cards and promoting cards to consumers. The interchange fee structur

Industry committee  I believe I've testified, and I'm happy to go over it. The interchange rate structure is quite simple. We want to provide a rate structure that motivates banks to participate in issuing the cards, promoting them, and investing in innovation, along with a rate structure where, w

Industry committee  Very simply, the reason we set the fee is to encourage network participation from the banks. We want banks to be active in marketing their services and signing up merchants. We want banks to be active in issuing cards and promoting cards to consumers. The interchange fee structur

Finance committee  That's a very good question and it's one that we struggle with quite a bit. I should mention, and I think I've testified, that Visa is accepted in 170 countries globally, and in the vast majority of those countries we have an honour-all-cards rule that applies to Visa, the brand.