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Finance committee Yes, we have a switch fee.
June 16th, 2009Committee meeting
Mark O'Connell
Finance committee No, there are different fees, again, set on a cost recovery basis under the same model and they're flat switch fees, but they're respective of the ATM business. We don't charge any additional fees in that business, such as the convenience fees and so forth. That has nothing to do
June 16th, 2009Committee meeting
Mark O'Connell
Finance committee Again, ours is a wholesale charge to the issuers. I'll have to get back to you with respect to making sure I get all the specific charges. But again, it's a flat fee.
June 16th, 2009Committee meeting
Mark O'Connell
Finance committee Yes.
June 16th, 2009Committee meeting
Mark O'Connell
Finance committee Yes, where I can, I will. All five services in the restructuring would be looked at from a competitive model standpoint.
June 16th, 2009Committee meeting
Mark O'Connell
Finance committee How would their experience be better if Interac...?
June 16th, 2009Committee meeting
Mark O'Connell
Finance committee So the first change is just the restructuring of Interac in order for it to be able to compete and continue to be there for consumers. I think consumers over the past 20 years have come to rely on it, and in some respects debit in Canada has been a love affair with Interac. So I
June 16th, 2009Committee meeting
Mark O'Connell
Industry committee Last year in Interac direct payment, I believe there were around 3.6 billion transactions.
June 16th, 2009Committee meeting
Mark O'Connell
Industry committee No, there are different fees, again, set on a cost recovery basis under the same model and they're flat switch fees, but they're respective of the ATM business. We don't charge any additional fees in that business, such as the convenience fees and so forth. That has nothing to do
June 16th, 2009Committee meeting
Mark O'Connell
Industry committee How would their experience be better if Interac...?
June 16th, 2009Committee meeting
Mark O'Connell
Industry committee So the first change is just the restructuring of Interac in order for it to be able to compete and continue to be there for consumers. I think consumers over the past 20 years have come to rely on it, and in some respects debit in Canada has been a love affair with Interac. So I
June 16th, 2009Committee meeting
Mark O'Connell
Industry committee When the consent order was issued, Interac direct payment was a fledgling. It was a business case being launched. The consent order was issued when shared cash dispensing, or our ATM business, was what Interac was. Today, the Interac ATM business is 250 million transactions. It's
June 16th, 2009Committee meeting
Mark O'Connell
Industry committee Again, ours is a wholesale charge to the issuers. I'll have to get back to you with respect to making sure I get all the specific charges. But again, it's a flat fee.
June 16th, 2009Committee meeting
Mark O'Connell
Industry committee Yes.
June 16th, 2009Committee meeting
Mark O'Connell
Industry committee Yes, where I can, I will. All five services in the restructuring would be looked at from a competitive model standpoint.
June 16th, 2009Committee meeting
Mark O'Connell