Archived - Harper Government Announces New Measures to Protect Consumers and Entrepreneurs

April 13, 2015 – Ottawa, Ontario – Department of Finance

Finance Minister Joe Oliver today released an update to the Code of Conduct for the Credit and Debit Card Industry in Canada, delivering on a commitment made in 2014 to help make life more affordable for Canadians and entrepreneurs. Following consultations with stakeholders, these new changes will make the Code even stronger by addressing unfair business practices and improving transparency for merchants and consumers, including new provisions that apply specifically to mobile payments. Participants in the debit and credit card market will have until 30 days from the issuance of this news release to review and adopt the enhanced Code of Conduct.

The Code was launched in 2010 to promote fair business practices and ensure that merchants and consumers understand the costs and benefits associated with credit and debit cards. Every time merchants accept a credit card payment from a customer, they pay fees. Like any other business cost, these fees are often passed on as costs to consumers in the form of higher prices.

Minister Oliver also released Balancing Oversight and Innovation in the Ways we Pay: A Consultation Paper, seeking the views of Canadians on the best approach to ensure that new electronic payment methods are safe and provide adequate consumer protection, while allowing innovation that benefits Canadians.

The updated Code of Conduct for the Credit and Debit Card Industry in Canada includes:

The Government is releasing Balancing Oversight and Innovation in the Ways we Pay: A Consultation Paper, seeking the views of Canadians on the national payment system, recognizing that:

Melissa Lantsman
Director of Communications
Office of the Minister of Finance
613-369-5696

Stéphanie Rubec
Media Relations
Department of Finance
613-369-4000

Report a problem or mistake on this page
Please select all that apply:

Thank you for your help!

You will not receive a reply. For enquiries, contact us.

Date modified: