Finance committee  I have just one point. Currently it's the case that if you have a card and the issuer identifies or thinks that your card is compromised, they are going to reach out and contact you.

Finance committee  I'll start by saying that I think there has already been some questioning in prior discussions about the relationship between the merchant and the acquirers. I'm not going to go over that ground. You've covered that. As you mentioned, there are a number of competitors in that m

Finance committee  I don't have it with me, but we have some data on the CBA website and we can make that available to the committee.

Finance committee  That's a good question. I think the question you're getting at is really whether or not I feel as a merchant I'm getting value. I'll separate it into two streams. There's the value stream. First, they can opt for a flat rate, if they want, from their acquirer. They can usually ne

Finance committee  It's just another mechanism to effect the same sort of transaction.

Finance committee  It would be included as a transaction, and it would certainly show up as a transaction.

Finance committee  Are you referring to FATCA, the Foreign Account Tax Compliance Act?

Finance committee  I won't go too far down on FATCA, but in the case of FATCA, you're talking about whether or not there's actually any income earned on this as opposed to simply a transaction. If we're talking about transactions, those are not directly related to FATCA. FATCA relates to income th

Finance committee  Not every transaction has to be, if that's what you're asking. It's only in respect of income.

Finance committee  It has nothing to do with whether or not it's mobile; it really has to do with whether or not you're talking about income.

Finance committee  Well, I can't speak for the credit unions—

Finance committee  Certainly we watch them, but I don't want to speak on their behalf. They were involved in the development of the mobile reference model, along with banks, to try to come up with a harmonized guideline around mobile wallets, but I don't know what sorts of offerings they've come ou

Finance committee  If I'm making a mobile payment and I choose to take my credit card and my credentials and load them onto my mobile phone and make a transaction using my mobile phone and NFC technology, that is treated the same way as if I'm making it with my card. The zero liability still applie

Finance committee  Just to be clear, if I'm doing mobile banking, that's just another mechanism for me to access my account. It shows up as an account transaction.

Finance committee  Mr. Chair, I'm very pleased to be here today representing the Canadian Bankers Association and our 60 members, which include domestic banks, foreign bank subsidiaries, and foreign bank branches operating in Canada. I welcome the opportunity to speak about emerging digital payment