TORONTO, April 22, 2009 – MasterCard Canada today told the Senate Standing Committee on Banking, Trade and Commerce that it strongly believes additional regulatory management of payment system fees will result in unintended consequences for both Canadian consumers and retail merchants.

“Canada’s credit card systems are well balanced and managed to maximize their value to merchants, cardholders and the Canadian economy as a whole,” said Kevin Stanton, President, MasterCard Canada. “Canada’s current regulatory framework safeguards the interests of all participants, and direct regulatory price controls will suppress innovation, reduce competition and harm consumers.” Read More