Finance committee  That would be as long as Visa sticks to the non-enforcement of the honour-all-cards rule, which is very important in that answer.

Finance committee  I'd love to, and thank you for raising the question. I'm going to distinguish between an airline and a travel agent. There are government agencies involved in the tour operator business. In the case of the tour operators, TICO, if you're familiar with it--and there's a fund in Q

Industry committee  If I could just add this, there are actually some good instances where varying interchange makes sense, in my experience. I don't know if you have government travel cards when you travel. You don't have government travel cards? Okay, I used to work on the issuing side in that par

Industry committee  Yes, with Visa there will be a prompt at the point of sale. Also, the merchants will have to elect whether they want Visa debit as well.

Industry committee  If merchants do not want to accept Maestro, we certainly would never force them to do that. We will turn it on.

Industry committee  That would be as long as Visa sticks to the non-enforcement of the honour-all-cards rule, which is very important in that answer.

Industry committee  I'd love to, and thank you for raising the question. I'm going to distinguish between an airline and a travel agent. There are government agencies involved in the tour operator business. In the case of the tour operators, TICO, if you're familiar with it--and there's a fund in Q

Finance committee  It varies by merchant. But in some cases, if we have a fixed rate for the merchant, we end up eating the difference.

Finance committee  In general, I suppose, my view is that government-imposed price controls on businesses tend to not work. It's more of a commercial dispute. One of the issues that I'd have with it, having read a bunch of the studies, is that there are pros and cons. I don't know if you've had a

Industry committee  In general, I suppose, my view is that government-imposed price controls on businesses tend to not work. It's more of a commercial dispute. One of the issues that I'd have with it, having read a bunch of the studies, is that there are pros and cons. I don't know if you've had a

Industry committee  It varies by merchant. But in some cases, if we have a fixed rate for the merchant, we end up eating the difference.

Finance committee  Visa and MasterCard do not make money from interchange. Their revenue model is driven off assessment fees that are charged to merchant processors like us as well as assessment fees that are charged to the issuers. So it's in their best interests to try to maximize the flow-throug

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. T

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

Industry committee  Visa and MasterCard do not make money from interchange. Their revenue model is driven off assessment fees that are charged to merchant processors like us as well as assessment fees that are charged to the issuers. So it's in their best interests to try to maximize the flow-throug