INDU Committee Meeting
Notices of Meeting include information about the subject matter to be examined by the committee and date, time and place of the meeting, as well as a list of any witnesses scheduled to appear. The Evidence is the edited and revised transcript of what is said before a committee. The Minutes of Proceedings are the official record of the business conducted by the committee at a sitting.
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Minutes of Proceedings
The witnesses made statements and answered questions.
At 3:45 p.m., Joël Lightbound took the Chair.
On motion of Rick Perkins, it was agreed, — That, given that,
(i) some payment processors have failed to commit to reducing their merchant fees despite recent deals with Visa and Mastercard that sought to lower transaction costs; and
(ii) given that Fintech Canada has told the committee that “In some cases savings being promised [by the government] might not actually come to fruition”,
the committee therefore agree to extend its ongoing study of credit card practices by at least two meetings, and agree to invite:
(a) companies that have yet to commit whether they will pass on these savings according to the Canadian Federation for Independent Businesses, including companies, Fiserv, Nuvei, People’s Trust, PSP Services Inc., Adyen Canada Ltd., Elavon, Shopify, Square Inc.; and
(b) officials from the Department of Finance for one hour, and officials from Revenue Canada for one hour;
and,
that these meetings take place within 14 days following the adoption of this motion.
At 5:28 p.m., the meeting was suspended.
At 5:34 p.m., the meeting resumed.
At 5:36 p.m., the committee adjourned to the call of the Chair.