Organizations endorsing the code will maintain or exceed the level of consumer protection it establishes. The code does not preclude the protection given by existing laws and standards. The code outlines industry practices and consumer and industry responsi-bilities, which will help to protect consumers in their use of debit card services in Canada. Card issuers will also do their best to protect consumers in such transactions and to resolve any problems that may occur. The code will be reviewed regularly to ensure its relevance to current technology and business practices, and its effectiveness in promoting consumer protection in electronic funds transfers.
Debit cards provide consumers with a convenient alternative method of making payments.
Definitions for a number of terms used in the code are found in Part 8. A debit card and its associated PIN may be issued by two separate organizations. For this reason, the responsibilities of the PIN issuer and card issuer are described separately. The information may be in the form of abbreviations or codes, as long as the meanings of the codes are clearly set out in the document in which the codes are used. When the location of the machine is identified on the transaction record by a number only, the card issuer will provide the street address on request.