Merchants' Rights Clarified When Dealing with the Credit and Debit Industry
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwired) -- 11/12/13 -- Guidance issued by the Commissioner of the Financial Consumer Agency of Canada (FCAC) that is taking effect today clarifies the rights of merchants and others who accept credit and debit payments.
The clarifies what is expected of payment card networks and service providers regarding increased disclosure of sales and business practices and the cancellation of contracts without penalty, set out in the (the Code).
"This guidance is intended to ensure better disclosure to merchants and address inappropriate sales and business practices that limit the application of elements of the Code," said FCAC's Commissioner, Lucie Tedesco.
The Commissioner's Guidance focuses on three major issues identified by FCAC through its supervisory work:
"To further help merchants and others who accept debit and credit card payments, we have added more information to our website," added Commissioner Tedesco. "Under the merchant tab on FCAC's website, there is a summary of , , an , a and other information about the Code and the at ."
About FCAC
With and , the (FCAC) provides objective information about financial products and services to help Canadians increase their financial knowledge and confidence in managing their personal finances. FCAC informs consumers about their when dealing with banks and federally regulated trust, loan and insurance companies. FCAC also makes sure that federally regulated financial institutions, payment card network operators and external complaints bodies comply with intended to protect consumers.
You can reach us through FCAC's Consumer Services Centre by calling toll-free 1-866-461-3222 (TTY: 613-947-7771 or 1-866-914-6097) or by visiting our website: .
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Disponible en francais
Contacts:
Natasha Nystrom
Acting Media Relations Officer
613-941-1526
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Datum: 12.11.2013 - 08:00 Uhr
Sprache: Deutsch
News-ID 1282122
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