Financial Consumer Agency of Canada

Financial Consumer Agency of Canada

November 12, 2013 09:00 ET

Merchants' Rights Clarified When Dealing with the Credit and Debit Industry

OTTAWA, ONTARIO--(Marketwired - Nov. 12, 2013) - 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 Commissioner's Guidance 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 Code of Conduct for the Credit and Debit Card Industry in Canada (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:

  • inappropriate sales and business practices

  • disclosure to merchants in multiple provider agreements

  • multiple contract cancellation penalties, costs or fees.

"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 merchants' rights, tips on choosing a payment processor, an overview of the payments system, a glossary of terms and other information about the Code and the guidance at"

About FCAC

With educational materials and interactive tools, the Financial Consumer Agency of Canada (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 rights and responsibilities 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 legislation and industry commitments 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:

Follow @FCACan on Twitter

Like Financial Consumer Agency of Canada (FCAC) on Facebook Like Financial Literacy Month in Canada on Facebook.

Subscribe to FCACan on YouTube

Follow Financial Consumer Agency of Canada on LinkedIn Join the Financial Literacy in Canada group on LinkedIn.

Disponible en français

Contact Information