Tony Van Bynen at the Industry, Science and Technology Committee

October 7th, 2024 / 5:15 p.m.

Liberal

Tony Van Bynen Liberal Newmarket—Aurora, ON

Thank you, Mr. Chair.

I'm trying to sort out the transaction and the costing of the transaction as we go through.

Mastercard and Visa, all you do is take the transaction and the portfolio is managed by the banks. Is that correct? They get the rate of return, etc. Okay.

I'm hearing about this 0.95% average fee. Is that for every transaction? If I was to pay with my Visa card $100, 95¢ would go to who?

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