Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
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The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
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Will MasterCard Debit Come to Canada?
– ratesupermarket.ca
MasterCard could be bringing its debit card program to Canada as early as next year. Experts say the move is an effort to grow its debit business outside of the U.S, where Visa rules the market.
According to the Canadian Payments Association, debit is the second most popular form of payment in Canada after cash. But Canadians wanting to pay with debit face limitations online, with most large retailers accepting only credit card and PayPal payments — the number of retailers who accept Interac payments online is growing, but remains small in comparison. MasterCard debit would be accepted online and for international in-store purchases made by Canadians travelling abroad.
Entering a New Credit Card Frontier
MasterCard’s move will likely be met with scrutiny, especially as the announcement comes on the heels of Visa and MasterCard entering an agreement to cap interchange fees (the fees they charge to retailers to process transactions) — an agreement that did not include debit card transactions…
Federal regulators are proposing that the eight biggest U.S. banks be required to further increase the amount of capital they set aside to cushion against unexpected losses.
