Thank you, Mr. Chair.
I echo the comments by my colleague, Mr. Lake. It's great having the four of you today to talk about such an important issue.
Each of you talked about the importance of technology. We're looking at how technology is making our lives easier. When you look at the systems that are going into place to make our lives easier, they are actually getting more and more complex. I have heard the comment or statement a couple of times that we are close to a tipping point. We are very close to that tipping point where e-commerce and mobile payments are going to tip, and they're going to go right across the country. Whatever gets Canadians using mobile payments and e-commerce, it's exciting. But at the same time we're also going to have to look at those systems. What are we doing to ensure that we're protecting consumers? What are we doing to ensure that we're protecting small- and medium-size businesses, especially when it comes to some of the regulations that we have heard about?
More specifically, what I would like to talk about are the interchange fees for credit cards. We did a study in the industry committee in the last Parliament that discussed how small- and medium-size businesses are being impacted by interchange fees. Now, if we see smart phones and Google Wallet, for example, utilizing MasterCard and Visa.... We all know there is an issue right now with financial literacy, and if we put digital literacy on top of financial literacy.... Some of us are still trying to figure out how to get the clock from flashing on the VCR. We're trying to bring people forward.
I make light of that, but maybe I will start with you, Mr. Cochrane, on that question. Are we doing enough in relation to e-commerce and mobile payments to ensure there are protections out there for consumers? I will just leave it at that and we'll go from there.