Ottawa probes payment company Moneris

Moneris Solutions, the country’s largest payment processor, is being investigated by the Financial Consumer Agency of Canada over a possible violation of Ottawa’s new code of conduct for the payments industry. Finance Minister Jim Flaherty has instructed the FCAC to expedite its probe and is again raising the prospect that he will bring down tougher,[…]

Competition Bureau Challenges Visa and MasterCard’s Anti-competitive Rules

OTTAWA, December 15, 2010 — The Competition Bureau announced today that it has filed an application with the Competition Tribunal, to strike down restrictive andanti-competitive rules that Visa and MasterCard impose on merchants who accept their credit cards. The Commissioner of Competition alleges that these rules have effectively eliminated competition between Visa and MasterCard for merchants’ acceptance of their credit[…]