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Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce

Issue 14 - Minutes of Proceedings - October 1, 2014


OTTAWA, Wednesday, October 1, 2014
(34)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day, at 4:15 p.m., in room 9, Victoria Building, the chair, the Honourable Irving Gerstein, presiding.

Members of the committee present: The Honourable Senators Bellemare, Black, Campbell, Gerstein, Greene, Hervieux-Payette, P.C., Massicotte, Ringuette, Rivard, Tannas and Tkachuk (11).

In attendance: Adriane Yong and Brett Stuckey, Analysts, Parliamentary Information and Research Service, Library of Parliament.

Also present: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Tuesday, March 25, 2014, the committee continued its examination on the use of digital currency. (For complete text of the order of reference, see proceedings of the committee, Issue No. 6.)

WITNESSES:

Visa Canada Corporation:

Derek Colfer, Head of Technology and Innovation.

MasterCard:

Sherri Haymond, Senior Vice President, Digital Channel Engagement, Emerging Payments;

Jason Davies, Head of Emerging Payments, Canada.

The chair made an opening statement.

Mr. Colfer made a statement and answered questions.

Ms. Sherri made a statement and, together with Mr. Davies, answered questions.

At 5:08 p.m., the committee suspended, the Honourable Senator Tannas having withdrawn from the committee meeting for the duration of the proceedings pursuant to subsection 13(2) of the Ethics and Conflict of Interest Code for Senators.

At 5:12 p.m., the committee resumed.

Pursuant to the order of reference adopted by the Senate on Wednesday, April 9, 2014, the committee continued its examination of Bill S-202, An Act to amend the Payment Card Networks Act (credit card acceptance fees). (For complete text of the order of reference, see proceedings of the committee, Issue No. 12.)

WITNESSES:

Visa Canada Corporation:

Robert Livingston, President;

Brian Weiner, Vice President, Product and Strategy.

MasterCard:

Don Lebeuf, Head of Customer Delivery, Canada.

Pursuant to subsection 12(1) of the Ethics and Conflict of Interest Code for Senators, a declaration of private interests was made as follows:

— By written declaration, the Honourable Senator Tannas (Bill S-202, An Act to amend the Payment Card Networks Act (credit card acceptance fees).

The chair made a statement.

Mr. Livingston made a statement and, together with Mr. Weiner, answered questions.

Mr. Lebeuf made a statement and answered questions.

At 6:15 p.m., the committee adjourned to the call of the chair.

ATTEST:

Barbara Reynolds

Clerk of the Committee