Industry committee  I think there's an assumption that cash provides more value for the merchant. That's not necessarily so. Cash can be an expensive thing for a merchant to handle--

Industry committee  --so if you're incentivizing consumer behaviour that says “I'm going to pay cash because it's cheaper to do that”, it could actually increase costs for the merchant.

Industry committee  Credit unions tend to have very different business models for how they deliver an Interac service, let's say, versus a Maestro service. There are very different cost structures associated with those two deliveries, so the credit union as a card issuer really needs to be able to s

Finance committee  I think there's an assumption that cash provides more value for the merchant. That's not necessarily so. Cash can be an expensive thing for a merchant to handle--

Finance committee  --so if you're incentivizing consumer behaviour that says “I'm going to pay cash because it's cheaper to do that”, it could actually increase costs for the merchant.

Finance committee  Credit unions tend to have very different business models for how they deliver an Interac service, let's say, versus a Maestro service. There are very different cost structures associated with those two deliveries, so the credit union as a card issuer really needs to be able to s

Industry committee  We're much more active on both the debit card side and on the Interac side. In terms of fees and some of the things you were just talking about, credit unions themselves pay for those in terms of offering those types of services. So they do provide special features, such as fire

Industry committee  Certainly there are two specific things, as we said in our address. The first thing is that Interac does need to change its governance model. As a non-profit association, it does not have the capability to develop new products and services. It needs to move to a new type of model

Industry committee  Yes, or the change to the consent order based on the discussions that are already under way between Interac and the competition.

Industry committee  In terms of making sure that they're all subject to the CPA rules, for example, yes, that would be one of the concerns.

Industry committee  Certainly the issue is let's review the regulatory environment and make sure that all the payment schemes are subject to the same level and same type of regulatory rules.

Finance committee  We're much more active on both the debit card side and on the Interac side. In terms of fees and some of the things you were just talking about, credit unions themselves pay for those in terms of offering those types of services. So they do provide special features, such as fire

Finance committee  Certainly there are two specific things, as we said in our address. The first thing is that Interac does need to change its governance model. As a non-profit association, it does not have the capability to develop new products and services. It needs to move to a new type of model

Finance committee  Yes, or the change to the consent order based on the discussions that are already under way between Interac and the competition.

Finance committee  In terms of making sure that they're all subject to the CPA rules, for example, yes, that would be one of the concerns.