Finance committee  An immediate innovation we are endeavouring to roll out in this game in the debit wars is, for example, the tap and go, the contactless. As you notice, the U.S. credit card companies have their products in market; Interac does not by virtue largely of our inability within our str

Finance committee  You're referring to the acquirer marking up the fee, not the banks?

Finance committee  I think you're getting at a concern of mine. We publish our rates on our website each year, and that's—

Finance committee  Yes. And in their contracts they have an agreement that any network fee charged is a pass-through to the merchant, and then they layer on their other fees. I am concerned that we don't have that downstream visibility. There have previously been tactics, and this is what I'm gett

Finance committee  I can't speak to the strategies of Visa and MasterCard, of course, as that is not currently under Interac's purview or planning. But of course we're the network, remember, in the middle. With respect to card rollout strategies and so forth, that's the purview of the issuer largel

Finance committee  I hope it hasn't been lost. There's more than an internal restructuring of Interac needed with respect to how this debit marketplace evolved. So the level playing field I'm talking about, so consumers and merchants can overtly choose Interac, away from the competitors and their v

Industry committee  I can't speak to the strategies of Visa and MasterCard, of course, as that is not currently under Interac's purview or planning. But of course we're the network, remember, in the middle. With respect to card rollout strategies and so forth, that's the purview of the issuer largel

Industry committee  An immediate innovation we are endeavouring to roll out in this game in the debit wars is, for example, the tap and go, the contactless. As you notice, the U.S. credit card companies have their products in market; Interac does not by virtue largely of our inability within our str

Industry committee  You're referring to the acquirer marking up the fee, not the banks?

Industry committee  I think you're getting at a concern of mine. We publish our rates on our website each year, and that's—

Industry committee  Yes. And in their contracts they have an agreement that any network fee charged is a pass-through to the merchant, and then they layer on their other fees. I am concerned that we don't have that downstream visibility. There have previously been tactics, and this is what I'm gett

Industry committee  I hope it hasn't been lost. There's more than an internal restructuring of Interac needed with respect to how this debit marketplace evolved. So the level playing field I'm talking about, so consumers and merchants can overtly choose Interac, away from the competitors and their v

Finance committee  Right. It's 0.8¢ to the acquirer and 0.8¢ to the issuer.

Finance committee  Last year in Interac direct payment, I believe there were around 3.6 billion transactions.

Finance 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