Spineless banker acts predictably
The Judges being unable to do any form of finance is BS. We need to accelerate konek and figure out if we can set up a company that works like Visa/Mastercard for credit based purchasing because interac/konek only work with your local bank or an associated Visa/Mastercard. If we could get our banks to set up some kind of thing like a line of credit they could hook up to konek in addition to regular bank accounts we’d have a useful all Canadian alternative.
You don’t even need a financial alternative.
Canada literally already has a law and administrative function “Foreign Extraterritorial Measures Act (FEMA)”.
Carney is just a coward talking out of both sides of his mouth.
Interac would be enough if financial institutions didn’t charge so much for transactions. Meanwhile, credit card companies are giving you money every time you make a transaction with their cards.
It seems like the transaction is free to us mostly because they are charging the merchant high premiums(which the merchant uses to jack up prices for everyone regardless of payment type). I agree on the overall charge levels being too high but If we got a larger number of overall transactions on the interac network I’m sure the prices would drop with volume. I look at what Brazil has done with there payment network and how much it’s annoyed the US, and it makes me think that they have a part of the solution there.
