In Canada for Visa we have 21 different rates for credit cards. We have seven different rates for debit as well, and one for what we call prepaid cards. When we look at credit alone, there are three different card types. There are regular cards, what we call Infinite cards, and commercial cards. Each one attracts different rates in seven industry categories. There are three categories of cards and seven industry categories or transaction-type categories, so that gives us 21 rates. We believe that differentiation is necessary because we provide different value to different industries. For example, credit cards really enable the business of an online merchant, so they drive more value than for a grocery retailer, and the rates reflect that.
On May 14th, 2009. See this statement in context.