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Canadian Government Consulting on a Code of Conduct for Mobile Payments
Published on:
The Canadian government is planning to make changes to its existing code of conduct for credit and debit cards to include rules for mobile payments. The objective of the consultation is to ensure the code's principles of transparency and fairness are upheld for payments that access debit or credit accounts through a mobile device at the point of sale.
"While we support new and convenient payment options, small businesses and consumers should not be punished with new hidden fees or undisclosed conditions." noted Ted Menzies, Minister of State (Finance).
The Code of Conduct for the Credit and Debit Card Industry in Canada came into effect in August 2010 to help merchants and consumers clearly understand the costs and benefits of credit and debit cards.
This new consultation delivers on a commitment to review the application of the Code to mobile payments made in response to the Task Force for the Payments System Review's final report, released in March 2012.
"Today's actions are welcome. They show that the Code can evolve, and will address some of the reforms needed to continue to level the playing field between payments operators and small business," said Corinne Pohlmann, Vice-President, National Affairs for the Canadian Federation of Independent Business.
The proposed Addendum is being circulated for a 60-day comment period.
Tags: [mobile payments] [Canada]
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