TORONTO, May 13 /CNW/ - Interac Association and Acxsys Corporation are formally announcing that the organizations are adopting the Federal Government's Code of Conduct for the Credit and Debit Card Industry in Canada, released by Finance Minister Flaherty on April 16, 2010.
"Minister Flaherty has delivered a Code of Conduct that promotes fair and healthy competition, and re-establishes choice and transparency for merchants and consumers, which we fully support," emphasized Mark O'Connell, President and CEO of Interac Association/Acxsys Corporation.
"Clear information about service offerings and their associated costs, and allowing stakeholders to make informed choices should be hallmarks of Canada's debit system," added Mr. O'Connell. "The Code ensures that these principles will continue to be upheld as the market evolves."
About Interac Association
A recognized world leader in debit card services, Interac Association is responsible for the development and operations of the Interac(R) network, a national payment network that allows Canadians to access their money through Automated Banking Machines and point-of-sale terminals across Canada.
Interac Association was founded in 1984 and is comprised of a diverse membership that includes banks, trust companies, credit unions, caisses populaires, merchants, and technology and payment related companies.
About Acxsys Corporation
Acxsys Corporation, comprised of eight large financial institutions as shareholders, is headquartered in Toronto, Ontario. The Corporation's shareholders are the architects of the Interac network, Canada's national debit network. Acxsys specializes in the development and operation of new payment service opportunities, as well as consulting and management services in the field of electronic payments. Acxsys Corporation businesses include the operation of the Interac Email Money Transfer service, the Interac Online service, and Cross Border Debit. For more information, please visit www.interac.ca.
(R) Trade-mark of Interac Inc. Used under licence.
SOURCE Interac Association
For further information: For further information: Tina Romano, Interac Association, at (416) 869-5062 or firstname.lastname@example.org, www.interac.ca