Thank you, Mr. Chair.
I'll direct my questions to Fintechs Canada.
Thank you for coming here and for the work you guys do.
One of your member companies is Stripe, a payment processor. In a series of articles this week, including one by the National Post, the long and the short of it is that Stripe has taken a posture of saying that it wouldn't pass the savings that were part of a deal reached by the government with Visa and Mastercard to lower the fee for small businesses along to their customers. One of the rationales on their website that they've used for this is that their costs have “increased by 0.036%” on standard pricing “due to the...reintroduction of GST/HST taxes”.
If this is true, how come your other members' companies that are payment processors haven't taken the same posture as Stripe?