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News / Interac to remain non-profit: Regulator
Interac is disappointed by a federal government decision that will not support the debit services application to become a for profit organization. Small business is keeping an eye on any future decisions here as both Visa and Mastercard are moving toward getting a share of the Canadian debit card market. Any moves that are made here could affect the number of customers that small business in Canada gets and drive the need for business funding up. "It's not the full solution we need but it allows us a step forward. It's a first down, not a touchdown," said one Interac official. The company could consider adopting a board of governors as well as a few other measures so that they might be considered a for profit organization in the future. However, for the time being small business in Canada can rely on Canadian government grants remaining unchanged.

Interac to remain non-profit: Regulator
Interac is disappointed by a federal government decision that will not support the debit services application to become a for profit organization. Small business is keeping an eye on any future decisions here as both Visa and Mastercard are moving toward getting a share of the Canadian debit card market. Any moves that are made here could affect the number of customers that small business in Canada gets and drive the need for business funding up. "It's not the full solution we need but it allows us a step forward. It's a first down, not a touchdown," said one Interac official. The company could consider adopting a board of governors as well as a few other measures so that they might be considered a for profit organization in the future. However, for the time being small business in Canada can rely on Canadian government grants remaining unchanged.
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