Code of Conduct Complaints Resolution
What was announced on April 13, 2015?
A: On April 13, 2015 the Government of Canada announced enhancements to the Code of Conduct for the Credit and Debit Card Industry. Among the key updates announced by Minister Oliver, were new measures for dispute resolution, cancellation and renewal terms, and interchange rate reductions.
Moneris supports the Government’s aim to balance the needs of merchants and consumers, while taking into account the introduction of new technologies and innovations within the payments sector, such as mobile and contactless payments.
Q: What does this announcement mean for my business?
A: Moneris is fully adopting the enhanced Code of Conduct governing the Credit and Debit Card Industry, inclusive of April 2015 updates. We are working with the Government, the Card brands, our merchants and other stakeholders to support and implement these updates.
As part of our adoption of the enhanced Code, Moneris will be incorporating the interchange rate reductions announced by Visa and MasterCard. The impact of the rate change will be unique for each customer as the reduction is based on a number of factors that vary across industry sector and the transactions of the individual businesses.
For more information about our commitment to transparency and related information, customers can check their statements, contact our customer support centre at 1-844-204-8626, or visit moneris.com.
Q: When will Moneris implement the required changes resulting from the April 13th Government announcement?
A: Any required changes will be implemented within the timelines set by the Government. For additional information about timelines as outlined in the Code of Conduct please visit http://www.fin.gc.ca/n15/15-040-eng.asp.
Q: The announcement referenced rate reductions. How can a business find out if its interchange rates have been reduced?
A: We are committed to providing our customers with up-to-date information to understand the implications of the rate reductions as it impacts their industry and their businesses’ specific pricing structure.
As part of our adoption of the enhanced Code, Moneris will be incorporating the interchange rate reductions announced by Visa and MasterCard. The impact of the rate change will be unique for each customer as the reduction is based on a number of factors that vary across industry sector and the transactions of the individual businesses.
For more information about their rates our customers can check their statements, contact our customer support centre at 1-844-204-8626, or visit Moneris.com/interchange.
Q: How can I file a complaint regarding the Code of Conduct?
A: Moneris is working toward full adoption of the updated Code of Conduct governing the Credit and Debit Card Industry, inclusive of April 2015 updates. We are working with the Government, the Card brands, our merchants and other stakeholders to support and implement these adjustments. If you are unsatisfied with how we resolved a complaint, you can fill out a Code of Conduct Complaint Resolution Form.
Do you have a Code of Conduct complaint?