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Online News Archive

News Editor: Leslee Mason email Leslee

This page will be updated bi-monthly. For current news, visit our home page

November-December 2010

Competition Bureau challenges Visa, MasterCard’s "anti-competitive rules"

December 15, 2010--The Competition Bureau announced that it has filed an application with the Competition Tribunal, to "strike down restrictive and anti-competitive rules that Visa and MasterCard impose on merchants who accept their credit cards". The Commissioner of Competition alleges that these rules have effectively eliminated competition between Visa and MasterCard for merchants' acceptance of their credit cards, resulting in increased costs to businesses and, ultimately, consumers. Merchants in Canada pay an estimated $5 billion annually in credit card fees. Read the article

Reaction fast, swift and varied to Competition Bureau's challenge

December 16, 2010--The Canadian Federation of Independent Business (CFIB) welcomes the Competition Bureau's application with the Competition Tribunal to strike down Visa and MasterCard rules imposed on Canadian merchants. CFIB first proposed a Code of Conduct for the credit and debit card industry in Canada to give merchants more power in their relationship with credit card companies and banks. Government ultimately adopted most of CFIB's recommendations in its Code which went into effect in August 2010.Read the article (reaction from Visa, MasterCard, and others)

New platform gives banks online control of card personalization, management

November 29, 2010--A new era is dawning for banks, says Giesecke & Devrient. The Convego Service Online Portal from G&D enables banks to provide a better debit and credit card service to their customers. Financial institutions can use the online platform to check the processing status of cards, ascertain the current stock position and actively control production processes (e.g. canceling cards) quickly and simply at any time. Read the article

Tim Hortons opens debit payments channel, extends Chase Paymentech contract for processing

November 24, 2010 --One of Canada's biggest closed doors for debit payments swung open this week. When customers head to a restaurant counter or pull up to the drive-thru window at their local Tim Hortons, they can now pay with their Interac Debit card, through Chase Paymentech's proprietary payment processing platform. Tim Hortons, one of Canada's largest consumer brands, currently offers customers MasterCard credit card and MasterCard PayPass card options, and now Chase Paymentech has extended their Tim Hortons partnership to include the ability for customer's to pay by debit at the majority of Tim Hortons' restaurants nationwide.
Read the article

More than 300,000 customers join HMV's customer loyalty program in first four months

November 22, 2010 --First Data Corporation, a global leader in electronic commerce and payment processing and HMV, Canada's leading entertainment retailer, says HMV has launched its “purehmv” customer loyalty programme using First Data’s Real-Time Rewards solution. More than 310,000 consumers have joined the loyalty programme in its first four months. Read the article

Fundtech launches corporate mobile banking platform

By Robin Arnfield, News Editor

November 17, 2010--Fundtech Ltd, a NASDAQ-listed developer of transactional banking software, has launched Mobile ACCESSplus, a mobile platform designed specifically for corporate electronic banking. George Ravich, Fundtech’s Executive Vice President and Chief Marketing Officer, tells Canadian Treasurer that the platform currently works with Blackberrry and Apple wireless devices as well as devices running the Android and Microsoft mobile operating systems. Read the story

BRIEFS

Dovetail Joins International Payments Framework Association (IPFA) Dec 22, 2010

Travelex's 'GEO' for cross-border payments crowned Innovation of the Year
Dec 20, 2010

CGI extends partnership with Interac for three additional years Dec 17, 2010

Competition Bureau responds to CRFA complaints about credit card rules Dec 15, 2010

Global retailer standardizes on March Networks in $8 million deal Dec 2, 2010

Rewards influence purchasing decisions for most Canadian credit card holders
Nov 30, 2010

Kerry Biggs of GCT Global Container Terminals elected AFP Chairman Nov 18, 2010

Global Payments offers EMV solution for oil & gas industry Nov 17, 2010

TIO Networks launches cross-border bill payment service Nov 4, 2010

CIBC first Canadian Visa debit issuer Nov 4, 2010

Moneris to process Discover, Diners Cards in Canada
Nov 4, 2010

hyperWALLET targets Philippines corridor with m-transfer service Nov 4, 2010

Interac widens international card acceptance at Canadian ATMs Nov 3, 2010

 
 

 

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