If allowed to operate in Canada, these companies should operate under Canadian rules, such as those that exist for Interac through the Canadian Payments Association. Once again, the fee should be related to actual processing cost, plus a reasonable return on investment. There should be no room whatsoever for an ad valorem percentage charge.
In short, we need a system that provides a secure, successful, and affordable debit card system, a Canadian system. On Interac, we're aware of changes sought to their consent order, and we appreciate that some changes may be appropriate. We are concerned, however, that Interac might eventually desire interchange or a substantial increase in order to compete with Visa and MasterCard. So we continue to support a flat fee structure that reflects the actual transaction cost, oversight, transparency, and accountability. This recommendation applies to all debit schemes in Canada.