Evidence of meeting #151 for Industry, Science and Technology in the 44th Parliament, 1st session. (The original version is on Parliament’s site, as are the minutes.) The winning word was bank.
A recording is available from Parliament.
President and Chief Executive Officer, Interac Corp.
Yes, I'm sorry. I misunderstood your question. It does not include an inter-financial institution transfer.
President and Chief Executive Officer, Interac Corp.
That's right; it's “intra”, because that would be on the financial institution's internal system. It does not include that. The Payments Canada report, I think, is quite clear on that.
Liberal
The Chair Liberal Joël Lightbound
Okay. We'll have a look at it. I'm reassured, because if it does include that, I would think that's weak.
Mr. Savard-Tremblay. A brief question, please.
Bloc
Simon-Pierre Savard-Tremblay Bloc Saint-Hyacinthe—Bagot, QC
Mr. Wilmot, you've already been asked this question, but I'm not sure I understood your answer.
You were asked who Interac's main competitor was. There can hardly be a shorter answer than a simple name.
President and Chief Executive Officer, Interac Corp.
There are many different types of Interac competitors. I think I heard someone just say Visa, but there's Visa, MasterCard, PayPal, Apple, Western Union and MoneyGram and there are local companies. Flinks would be able to compete as well.
Liberal
The Chair Liberal Joël Lightbound
Have a great night. Thanks for joining us.
The meeting is adjourned.