The Star is reporting that Couche-Tard is considering offering it's own credit card brand in response to high Interchange Fees.
Wonder if Couche-Tard will call it "The Touche-Card
LAVAL, Que.–Convenience store operator Alimentation Couche-Tard says it may launch a credit card with other Canadian and American retailers to bypass financial institutions and their high card fees.
Chief executive Alain Bouchard disclosed the potential venture following the company's annual meeting yesterday.
Raymond Pare, chief financial officer, wouldn't give any details on plans to create a credit card that would compete with what he called the "duopoly" of Visa and Master-Card, but said it would most likely include a "good group of businesses" that would partner and create a common card with "normal rates."
Couche-Tard and others have denounced for years the fees charged by companies such as Visa, MasterCard and American Express. The company says the fees account for between 1.75 and 2 per cent of the value of transactions in U.S. and Canadian gas stations and convenience stores, compared with just 0.5 per cent in Australia where the fees are regulated.
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