Finance committee  In the case of debit, we actually did have some success with MasterCard. They had a model similar to what Jeff had described with Visa. In that case we were able, with others I'm sure, to convince them that a more competitive model was appropriate given their current situation. They did listen.

Finance committee  With respect to your first question, in terms of fees, we are not planning on any fee increases as a result of deploying the new terminals. We now have probably about 140,000 or so chip-enabled devices at our various merchants. We're working on replenishing them by 2010, to make sure those who need them will have them.

Industry committee  If you owned a hotel, for example, and it didn't have a chip-enabled device, and if you were renting from either me or Jeff or the other dozen or so competitors in the marketplace, we would, by October 2010, send out a technician and we would replace the device with a chip-enabled device.

Finance committee  If you owned a hotel, for example, and it didn't have a chip-enabled device, and if you were renting from either me or Jeff or the other dozen or so competitors in the marketplace, we would, by October 2010, send out a technician and we would replace the device with a chip-enabled device.

Industry committee  In the case of Visa, it's a prompt. It's either Interac or Visa debit. As for the card you would use, if you have a client card where you get cash out of your debit card today, you would be prompted with Visa for either Visa debit or Interac. You can choose either one. It will still go into your bank account.

Industry committee  I'll start with that. With Visa, as it's currently envisioned, they will be higher, because Visa has set their interchange level at a level that, in our opinion, is too high. They believe there's value brought, and there is value brought in both scenarios. For example, if you buy something online and you dispute that it was you, with Interac you're more of an unsecured creditor.

Finance committee  In the case of Visa, it's a prompt. It's either Interac or Visa debit. As for the card you would use, if you have a client card where you get cash out of your debit card today, you would be prompted with Visa for either Visa debit or Interac. You can choose either one. It will still go into your bank account.

Finance committee  I'll start with that. With Visa, as it's currently envisioned, they will be higher, because Visa has set their interchange level at a level that, in our opinion, is too high. They believe there's value brought, and there is value brought in both scenarios. For example, if you buy something online and you dispute that it was you, with Interac you're more of an unsecured creditor.

Industry committee  On the Visa side, it's exactly the same answer. We believe that method makes the most sense. We think the consumer should have a choice on how their transaction is treated. Our devices will prompt for it, for the merchants that elect to accept it. We're very pleased that Visa has not elected to enforce the honour-all-cards rule.

Industry committee  On the MasterCard side, MasterCard has chosen a slightly different path. They've brought the cost down of processing the transaction. Their assessment fees are now actually lower than Interac's, which is positive for the merchants, but their method is a bit different in that the banks are instructing us where to send the cards, as opposed to the individual cardholder, so the banks are making the decision.

Finance committee  On the Visa side, it's exactly the same answer. We believe that method makes the most sense. We think the consumer should have a choice on how their transaction is treated. Our devices will prompt for it, for the merchants that elect to accept it. We're very pleased that Visa has not elected to enforce the honour-all-cards rule.

Finance committee  On the MasterCard side, MasterCard has chosen a slightly different path. They've brought the cost down of processing the transaction. Their assessment fees are now actually lower than Interac's, which is positive for the merchants, but their method is a bit different in that the banks are instructing us where to send the cards, as opposed to the individual cardholder, so the banks are making the decision.

Industry committee  The chip as well as the more complex interchange structure, the premium cards.

Industry committee  Yes, we do in some situations and in some situations we don't. It depends on the actual agreement with a specific merchant. Each merchant negotiates individually with us.

Industry committee  No, they don't.