Competition Bureau to Review Competition Tribunal's Credit Cards Ruling
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwired) -- 07/23/13 -- The Competition Tribunal issued a decision today dismissing the Commissioner of Competition's application against Visa and MasterCard.
"I am disappointed that the Tribunal has dismissed the Bureau's application," said John Pecman, Commissioner of Competition. "At the same time, the decision recognized that this case is one that should have been brought before the Tribunal and found that Visa and MasterCard's conduct had an adverse effect on competition. We will be reviewing the decision closely to determine our next steps."
On December 15, 2010, the Competition Bureau filed an application with the Tribunal challenging rules that Visa and MasterCard impose on merchants who accept their credit cards.
"Credit card fees paid by Canadian merchants are among the highest in the world, estimated at $5 billion per year," added Pecman. "As a result, all Canadians pay higher prices than they should, regardless of how they pay for their purchases."
"Without changes to Visa and MasterCard's rules, merchants will continue to pay excessively high card acceptance fees, and these fees will continue to be passed along to consumers in the form of higher prices for goods and services," said Alison Tait, Deputy Commissioner of Competition, Civil Matters Branch.
The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.
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Datum: 23.07.2013 - 15:16 Uhr
Sprache: Deutsch
News-ID 280987
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contact information:
Town:
OTTAWA, ONTARIO
Kategorie:
Government & Administration
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