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On February 13, 2013, the Financial Consumer Agency of Canada (FCAC) issued Commissioner's Guidance (the Guidance) to clarify three issues related to the Code of Conduct for the Credit and Debit Card Industry in Canada (the Code). The Guidance applies to payment card network operators (PCNOs) that operate in Canada and their participants, including independent sales organizations (ISOs) and other service providers (e.g. processing, terminal leasing). The full text of the Guidance can be accessed here.

The Code, introduced in April 2010, is meant to help promote greater transparency for Canadian merchants and consumers who use credit and debit cards. The Guidance is meant to help merchants, payment card network operators, card issuers and acquirers better understand their obligations under the Code.