MONTREAL, Nov. 4, 2014 /CNW Telbec/ - Aimia Inc. (TSX: AIM) is encouraged by today's announcements that Visa and MasterCard have taken steps to address the concerns of the Government of Canada regarding credit card acceptance costs. In particular, the proposals to reduce interchange rates voluntarily by approximately 10 per cent, as stated by the Minister of Finance, to an average effective rate of 1.50 per cent for the next five years, provide a balanced response to merchant concerns while protecting consumer interests.
We are pleased with the timing of this development, as it will begin to address the uncertainty that has surrounded this issue for some time and we hope now for a rapid confirmation of how it will be implemented by all concerned in a fair and equitable manner.
We remain confident that all parties will put consumers first when determining how to implement these changes and that the retailer community-at-large will pass any savings on to consumers.
We will be working with our key financial partners to develop the optimal outcome and thus understand and communicate the implications for our Aeroplan Members and our business. For Aimia and our Aeroplan program, our focus is on preserving our market leading value proposition and the rewards that are so valued by our more than five million active members in Canada and which are such an important part of their everyday lives.
Caution Concerning Forward Looking Statements
Forward-looking statements are included in this news release. These forward-looking statements are identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and "should" and similar terms and phrases, including references to assumptions. Such statements may involve but are not limited to comments with respect to strategies, expectations, planned operations or future actions.
Forward-looking statements, by their nature, are based on assumptions and are subject to important risks and uncertainties. Any forecasts, predictions or forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business and its corporate structure. Results indicated in forward-looking statements may differ materially from actual results for a number of reasons, including the factors identified throughout Aimia's public disclosure records on file with the Canadian securities regulatory authorities.
The forward-looking statements contained herein represent Aimia's expectations as of November 4, 2014, and are subject to change after such date. However, Aimia disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
Aimia Inc. ("Aimia") is a global leader in loyalty management. Employing more than 4,300 people in 20 countries worldwide, Aimia offers clients, partners and members proven expertise in launching and managing coalition loyalty programs, delivering proprietary loyalty services, creating value through loyalty analytics and driving innovation in the emerging digital, mobile and social communications spaces.
Aimia owns and operates Aeroplan, Canada's premier coalition loyalty program, Nectar, the United Kingdom's largest coalition loyalty program, Nectar Italia, Italy's largest coalition loyalty program and Smart Button, a leading provider of SaaS loyalty solutions. In addition, Aimia owns stakes in Air Miles Middle East, Travel Club, Spain's largest coalition loyalty program, Club Premier, Mexico's leading coalition loyalty program, China Rewards, the first coalition loyalty program in China that enables members to earn and redeem a common currency, Think Big, the owner and operator of BIG - AirAsia and Tune Group's loyalty program, Brazil's Prismah Fidelidade and i2c, a joint venture with Sainsbury's offering insight and data analytics services in the UK to retailers and suppliers. Aimia also holds minority positions in Cardlytics, a US-based private company operating in card-linked marketing and Fractal Analytics, a provider of advanced analytics. Aimia is listed on the Toronto Stock Exchange (TSX: AIM). For more information, visit us at www.aimia.com.