OTTAWA (May 28, 2014): Bruce Cran, President of the Consumers Association of Canada (CAC), released the following statement on the eve of the Senate Banking Committee beginning its study of Bill S-202, An Act to amend the Payment Card Networks Act (credit card acceptance fees), which is sponsored by Senator Pierrette Ringuette. The Bill seeks government intervention in the market to regulate the price merchants pay for credit card acceptance.
“The CAC is disappointed that Parliament is debating a bill that seeks to enrich merchants at the expense of consumers. The fees retailers pay to accept credit cards are a normal cost of doing business that merchants make a conscious decision to incur to improve their customer experience. Merchants continually downplay the benefits of accepting credit cards while seeking measures like Bill S-202 that would dump those costs onto their customers.Read More
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The Consumers' Association of Canada (CAC), founded in 1947, is an independent, national, not-for-profit, volunteer-based organization. The longest serving and most respected consumer organization in Canada, our mandate is to inform and educate consumers on marketplace issues, to advocate for consumers with government and industry, and to work with government and industry to solve…Read More