Industry committee  I couldn't agree with you more, and I think that's one of the breakdowns we want to address. I think that while we meant well by our customized report, apparently it's not working as well as we thought. And focusing not only on transparency of interchange, but understanding the actual cost of acceptance, which is something different from interchange, is important.

Industry committee  Yes. I heard the Retail Council mention charities. As far as I know, they don't represent any. The only thing we've ever heard from charities is that credit cards represent a higher level of donation and a higher level of fulfillment—fulfillment being the most important.

Industry committee  The focus on the CFIB is based on two things. One, we thought that Catherine put forth very workable suggestions at the Senate. They were a foundation for putting forth specific proposals. Furthermore, her constituency is small merchants; and I think the principal breakdown in the system right now is with small merchants, so they have become our priority.

Industry committee  You know, I heard the witnesses earlier in the week say that. I don't know what they would get out of it, because that wouldn't change the price dynamic. In the current situation, we're offering a lower-cost product, and we're going to stick to that. Before the Parliament of Canada, that's what we're stating we're going to do.

Industry committee  Yes, if they go down, we're going to have to respond downward. I don't know if the CPA gets anybody out of this. Our system has never failed a merchant in delivering safety and soundness of payment, even in this crisis. One of the things, I think, we have to be careful about as we consider the different options is that sometimes suggestions like those made by Interac actually create nothing more than barriers to competition.

Finance committee  There are 2.4 million merchants in Canada, to use Mr. Blouin's figure. There are only 600,000 who accept MasterCard; 75% don't accept MasterCard, which means that, yes, you can run a viable business without accepting MasterCard. There is a difference between need to accept and want to accept, because of the benefits that come with the proposition.

Finance committee  I couldn't agree with you more, and I think that's one of the breakdowns we want to address. I think that while we meant well by our customized report, apparently it's not working as well as we thought. And focusing not only on transparency of interchange, but understanding the actual cost of acceptance, which is something different from interchange, is important.

Finance committee  Yes. I heard the Retail Council mention charities. As far as I know, they don't represent any. The only thing we've ever heard from charities is that credit cards represent a higher level of donation and a higher level of fulfillment—fulfillment being the most important.

Finance committee  The focus on the CFIB is based on two things. One, we thought that Catherine put forth very workable suggestions at the Senate. They were a foundation for putting forth specific proposals. Furthermore, her constituency is small merchants; and I think the principal breakdown in the system right now is with small merchants, so they have become our priority.

Finance committee  You know, I heard the witnesses earlier in the week say that. I don't know what they would get out of it, because that wouldn't change the price dynamic. In the current situation, we're offering a lower-cost product, and we're going to stick to that. Before the Parliament of Canada, that's what we're stating we're going to do.

Finance committee  Yes, if they go down, we're going to have to respond downward. I don't know if the CPA gets anybody out of this. Our system has never failed a merchant in delivering safety and soundness of payment, even in this crisis. One of the things, I think, we have to be careful about as we consider the different options is that sometimes suggestions like those made by Interac actually create nothing more than barriers to competition.

Finance committee  First of all, MasterCard, or Maestro, doesn't transfer personal data outside of Canada. That's fundamental. We're subject to PIPEDA, just as anybody else is. And keep in mind that Interac sends transactions across the border through its alliance with NYCE.

Industry committee  First of all, MasterCard, or Maestro, doesn't transfer personal data outside of Canada. That's fundamental. We're subject to PIPEDA, just as anybody else is. And keep in mind that Interac sends transactions across the border through its alliance with NYCE.

Industry committee  Not to my knowledge. I've worked at MasterCard for 14 years, and it's always been allowed.

Industry committee  In fact, that's one of the proposals we put before the CFIB.