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Finance committee The mechanism can be whatever works, frankly.
February 27th, 2014Committee meeting
Darren Hannah
Finance committee If legislation would work, that would be fine. It's really a matter of whatever is effective.
February 27th, 2014Committee meeting
Darren Hannah
Finance committee What the tribunal said is that there was no legal issue. It's not a legal issue. What they said is it's a policy question. It's a complex one. It's multi-faceted, so they've asked the government to address it. That's what has happened.
February 27th, 2014Committee meeting
Darren Hannah
Finance committee Sure. I think you're talking about two separate issues. Mobile payment is one issue. The Competition Tribunal was looking at two very distinct legal questions. I understand what you're saying. I'm just saying they are two separate things.
February 27th, 2014Committee meeting
Darren Hannah
Finance committee With respect to the first suggestion on standardization, the industry, banks and credit unions have already developed the mobile payments reference model to provide a certain degree of guidance and structure going forward. I'd want to think about what the implications would be of
February 27th, 2014Committee meeting
Darren Hannah
Finance committee I believe work is under way in that area to try to—
February 27th, 2014Committee meeting
Darren Hannah
Finance committee We're supportive certainly of updating it to address mobile payments, absolutely.
February 27th, 2014Committee meeting
Darren Hannah
Finance committee It's not a “who”. It's really a class of institutions. From our point of view—
February 27th, 2014Committee meeting
Darren Hannah
Finance committee I think the credit and debit card code that the government has created is abundantly clear on the issue of co-badging. You cannot have competing applications on the card at the same time.
February 27th, 2014Committee meeting
Darren Hannah
Finance committee No, I've said there is a code. The code of conduct is abundantly clear. I could read it. It complies with it and is enforced through the FCAC. Institutions have said they follow the code; therefore they follow the code.
February 27th, 2014Committee meeting
Darren Hannah
Finance committee You're going to have to repeat the question. I'm sorry, but you have lost me a little bit.
February 27th, 2014Committee meeting
Darren Hannah
Finance committee I believe Global Payments did a study on exactly that question. They looked at the growth, the amount of additional GDP that electronic payments have created, the amount of additional spend that it has created. I don't have it with me, but we can certainly provide it to the commi
February 27th, 2014Committee meeting
Darren Hannah
Finance committee Absolutely.
February 27th, 2014Committee meeting
Darren Hannah
Finance committee Absolutely. The advantage of mobile banking is the convenience. People like to be able to use their mobile devices and conduct their transactions wherever they want. Increasingly they can. We've seen remarkable uptick in the usage and the adoption rate of mobile banking. When w
February 27th, 2014Committee meeting
Darren Hannah
Finance committee Absolutely.
February 27th, 2014Committee meeting
Darren Hannah