Given the large volume of debit card transactions, and in order to avoid a hike in prices as a result of escalating fees, the Coalition québécoise sur les hausses de frais de transaction par carte de crédit et de débit believes that, like the Senate committee, the government should take the appropriate measures to avoid introducing interchange fees or fees that are not based on the actual cost of debit transactions, and subject all corporations entering the debit market to the rules set out by the Canadian Payments Association.
We must stress that imposing interchange and other fees would have a significant detrimental impact on retailers.
Quebec and Canadian retailers are placing a lot of hope on the forthcoming recommendations by the Standing Committee on Finance and decisions of the Minister of Finance. This major issue has mobilized them like few others in recent years.