MasterCard Canada implements code
TORONTO--MasterCard will be adopting the code of conduct for credit and debit cards in Canada as released by the Minister of Finance.
MasterCard believes the Code creates benefits and burdens for all of the participants in the payments value chain. Importantly, the Code allows the continued presence of Maestro(R) on Canadian debit cards, allowing consumers to retain the benefits of international debit purchasing power.
"The Minister achieved appropriate balance in deliberating these complicated issues," said Kevin Stanton, President, MasterCard Canada.
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 22 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants.