New code of conduct for credit and debit card companies good news for restaurant operators
"This is an important step in addressing concerns of our members about unfair business practices," said CRFA President and CEO,
CRFA has been calling on the federal government to provide greater oversight of the credit and debit card payment systems in
The government is to be congratulated for recognizing the imbalance in negotiating power between credit card companies and merchants. The new code is a first step toward ensuring increased transparency and disclosure by credit card companies while allowing merchants choice of the cards they accept and payment options they provide.
CRFA intends to participate fully in the consultation process regarding the new Code of Practice on behalf of its 33,000 members. CRFA will press the government to carefully monitor its implementation to ensure compliance by credit card companies.
CRFA is one of Canada's largest business associations, with 33,000 members representing restaurants, bars, caterers, institutions and other foodservice providers. CRFA works to create an environment that allows foodservice operators in communities across