Statement from MasterCard Canada

TORONTO, April 16 /CNW/ - MasterCard announced today that it will be adopting the code of conduct for credit and debit cards in Canada as released by the Minister of Finance.

MasterCard believes the Code creates benefits and burdens for all of the participants in the payments value chain. Importantly, the Code allows the continued presence of Maestro(R) on Canadian debit cards, allowing consumers to retain the benefits of international debit purchasing power.

"The Minister achieved appropriate balance in deliberating these complicated issues," said Kevin Stanton, President, MasterCard Canada.

About MasterCard Worldwide

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 22 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard(R), Maestro(R) and Cirrus(R), MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com. Follow us on Twitter: @mastercardnews.

For further information: Jennifer Reed, MasterCard Canada, [phone], [email protected]