Interac to remain non-profit: Regulator
In a decision Interac described as "disappointing," the federal competition watchdog said Friday that it could not support the debit service provider's bid to become a for-profit company.Catherine Swift, president and chief executive officer of the Canadian Federation of Independent Business, called the decision "disappointing," saying it's "laughable" to suggest allowing Interac to go for-profit would be anti-competitive in the face of "the giant behemoths Visa and MasterCard."
