2 ms·
In many other countries with domestic card schemes, EMV cards are often co-branded with other domestic schemes to allow the same card to be used internationally
by BlackFly 10y ago
In many other countries with domestic card schemes, EMV cards are often co-branded with other domestic schemes to allow the same card to be used internationally. Domestically, low fees are maintained, but internationally the card would still function. This was more or less forbidden in Canada (see item 6):
http://www.fcac-acfc.gc.ca/Eng/forIndustry/publications/lawsReg/Pages/CodeofCo-Codedeco.aspx http://www.fcac-acfc.gc.ca/Eng/forIndustry/publications/laws...
According to some of my colleagues, these regulations were explicitly made to protect Interac against Visa debit and Maestro which were characterized as domestic schemes from the Visa and MasterCard network.
Because there are no co-branded cards, it also means that Maestro is not really accepted at many POS devices in Canada.