Industry committee  You'd have to specifically talk to each of the banks. It depends on which aspect. Are you specifically asking about cardholder choice or merchant choice, because there are differing views as to what constitutes cardholder choice, as we've heard. You heard from the Bank of Montrea

Industry committee  There are certainly segments of the consumer base who have no understanding of networks and what they mean—this Visa card versus that Visa card, or Interac. But there are different terms and service features ascribed to these products. In debit we're not cognizant, because our hi

Industry committee  We don't have it in any efficient fashion, given the governance challenge, the consent order prescriptive rules around everything from voting levels and areas in which we.... The switch fee is one of the only ways to raise fees. It's really about putting in place an independent b

Finance committee  Okay. Visa and MasterCard, although MasterCard a while ago, five years ago.... Visa is newly public. It has shed its association status. It is aggressively penetrating many markets around the world. With 3.6 billion transactions, it's an attractive piece of business. When you l

Finance committee  I would agree. I would agree that the system itself works well.

Finance committee  Interac's viability will benefit the small and medium-sized businesses. I can't comment on their strategies or any fee trajectory that they have demonstrated in other markets, but I can say--and we're willing to stand up and be accountable--that I'm not going to adopt that fee st

Industry committee  Okay. Visa and MasterCard, although MasterCard a while ago, five years ago.... Visa is newly public. It has shed its association status. It is aggressively penetrating many markets around the world. With 3.6 billion transactions, it's an attractive piece of business. When you l

Industry committee  I would agree. I would agree that the system itself works well.

Industry committee  Interac's viability will benefit the small and medium-sized businesses. I can't comment on their strategies or any fee trajectory that they have demonstrated in other markets, but I can say--and we're willing to stand up and be accountable--that I'm not going to adopt that fee st

Finance committee  I would say they echo that. They would completely underscore the need. Beyond intelligent and proper pricing and an independent board that's governed independently, if it's users, they support that if merchants are not being given an overt choice or a clear understanding of Inter

Finance committee  They would echo that if the Interac brand is confused in any way in a multi-brand situation on the card, it's to our detriment, and it doesn't adhere to our tenets of consumer choice and then merchant choice.

Finance committee  Right, and that has to be overt. These tactics are very important. Take a look at the U.S. debit wars and the tactics that were employed around whether the brands of the two debit networks were not disadvantaged in any way, whether they were both prominently displayed in an equal

Finance committee  I can't divulge. You're way off on the amounts.

Finance committee  We have been successful in a single debit provider market with no well-financed U.S. competitors, when everyone was on the same page at the same time and instituted a national debit service, yes. As we've seen around the world, we are the last remaining association in North Ameri

Industry committee  Right, and that has to be overt. These tactics are very important. Take a look at the U.S. debit wars and the tactics that were employed around whether the brands of the two debit networks were not disadvantaged in any way, whether they were both prominently displayed in an equal