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A person exits a Toronto store with Interac, Visa and MasterCard signs. Interac Association, best known for its debit card payment system, is seeking permission from Canada’s Competition Bureau to restructure its operations and re-tool for future growth.
A person exits a Toronto store with Interac, Visa and MasterCard signs. Interac Association, best known for its debit card payment system, is seeking permission from Canada’s Competition Bureau to restructure its operations and re-tool for future growth.
(Deborah Baic/The Globe and Mail)

Interac requests Competition Tribunal’s permission to revamp

Interac Association, best known for its debit card payment system, is seeking permission from Canada’s Competition Tribunal to restructure its operations and re-tool for future growth.

Interac has filed a request to unite its operations under one board of directors and to establish a research and development fund that allows it to invest in emerging technologies, such as mobile payments.