Description: The Canadian Competition Bureau argued that Canada’s credit card system is a “perverse” place where Visa and MasterCard shoppers charge merchants much higher fees. They argue that Canadian merchants pay among the highest fees in the world for accepting credit cards. The merchants pass some of the higher fees to consumers who end up paying higher prices for their products.
Source: Yahoo News Canada
Date: May 9, 2012
Questions for Discussion:
- Do you agree with the stand taken by the Competition Bureau? Why?
- Should credit card companies charge the same fees in Canada as they do in the U.S.?
- Why banks such as TD Canada support credit card companies?