CODE OF CONDUCT FOR DEBIT AND CREDIT CARD INDUSTRY
May 17, 2010
FICANEX Services announced today that THE EXCHANGE® ATM Network is adopting the Code of Conduct for Credit and Debit cards in Canada as released and amended by the Minister of Finance May 11, 2010.
Of high importance to all Members of THE EXCHANGE® ATM Network is that the Code permits the continued co-existence of THE EXCHANGE® application on Canadian consumers’ debit cards allowing them to retain the many additional benefits of membership in THE EXCHANGE® network.
“Minister Flaherty has provided a Code of Conduct that will ensure fair practices are maintained for the benefit of both merchants and consumers. Most importantly, Canadian debit card holders for the many Members of THE EXCHANGE® network will continue to receive the benefits and services they have come to expect from THE EXCHANGE® network,” expressed Fred Cook, Chair of the Board of Ficanex and THE EXCHANGE® network.
GENERAL INFORMATION
THE EXCHANGE® Network and FICANEX Services Limited Partnership
THE EXCHANGE® Network is a full-function, national ATM network and is made up of 230 Canadian participating financial institutions and their respective ATMs.
Fiserv EFT is the owner of THE EXCHANGE® trade mark and its associated rights. Fiserv EFT has granted FICANEX® the exclusive right to use, market and sublicense THE EXCHANGE® trade mark and the intellectual property rights associated with the operation of THE EXCHANGE® Network throughout Canada.
FICANEX® is a limited partnership formed under the laws of the Province of British Columbia. FICANEX® manages THE EXCHANGE® Canadian Network by licensing entitlement to use the intellectual property associated with the Network.
CORPORATE DONATION POLICY
FICANEX Services Corporation is committed to the principles of corporate social responsibility and good corporate citizenship. The Corporation maintains a Donation program with the express purpose of demonstrating good corporate citizenship in the communities where we do business.
FICANEX Services Corporation is pleased to consider requests for donations that promote and support initiatives in the following groups:
Requests must be received in writing and must include the following information:
- Brief description of your group and how it meets our criteria
- Name, phone and fax and/or email address of the group or individual making the request
- Nature of request
Send requests to:
FICANEX Services Corporation
Attn: Network General Manager
#300 – 8700 200th Street
Langley, BC V2Y 0G4
*Only requests received in writing will be considered.
BACKGROUND
History of THE EXCHANGE® Network
THE EXCHANGE® Network of ATMs is a very successful, U.S.A.-based operation. It is one of the largest ATM networks in the U.S., with over 265,000 ATMs. In 1983, THE EXCHANGE® Network was introduced into Canada when a number of B.C. credit unions decided to make, what was then, a revolutionary move to provide inter-institutional, full-function ATM transaction processing. Arrangements were made and the Canadian operation of THE EXCHANGE® Network was established and run under the new company named Pacific Network Services (PNS). The balance of B.C. credit unions and the Bank of British Columbia (now HSBC Bank Canada) joined in 1985. The transactions processed in 1983 are believed to have been the first international inter-institutional debit card/ATM transactions.
History of FICANEX®
The history behind the formation of FICANEX® is directly linked to the ownership/licensing of THE EXCHANGE® trademark and the related intellectual property rights in Canada. In 1983, PNS had the exclusive rights to license the trademark to any financial institution with its head office in the four western Provinces of Canada. When PNS was sold to Co-Operators Data Services Limited (CDSL) in 1987, the licensing arrangement carried on. When CGI Information Systems and Management Consultants Inc. acquired CDSL in 1997, the trademark rights to THE EXCHANGE® Network became non-exclusive. FICANEX® was formed in 2000 to both secure a brand for existing users and increase the scope through new users of THE EXCHANGE® Network in Canada.
To date, the Canadian operation of THE EXCHANGE® Network has grown from approximately 550 ATMs to over 2,400 ATMs today.
FICANEX® is committed to meeting the financial and service objectives of its limited partners and licensees and to providing strong growth as a provider of high quality network services to its members. FICANEX®'s goal is to be a national organization that is progressive, relationship-oriented, efficient and reliable.