Fintechs Canada responded to the government’s consultation on right to repair for home appliances and consumer electronics, which aims to give consumers more choices and information about repairing the products they buy.
In its submission, Fintechs Canada warns that a broad application of a right to repair framework could unintentionally “include payment devices and technologies such as electronic credential hardware,” which are designed to meet strict security standards. The association highlighted that these devices play a critical role in protecting sensitive financial data during transactions and are equipped with tamper-proof features to prevent fraudulent activities, such as skimming.
“These devices are meticulously designed to detect and respond to attempts to access internal elements,” the submission stated. “Tampering with these features could compromise the safety and performance of payment technologies, putting Canadians at risk.”
Fintechs Canada also emphasized the risk of disrupting compliance with global standards like the Payment Card Industry Data Security Standards (PCI DSS). “Non-compliance with PCI DSS could prevent payment devices from entering the market, resulting in financial penalties and loss of trust for merchants and consumers alike.”
To address these concerns, Fintechs Canada made three recommendations in their letter:
- Explicitly exclude payment devices from the Right to Repair framework.
- Exempt items where repair requirements could impair security features.
- Exempt devices that are typically replaced under warranty rather than repaired.
To view Fintech Canada’s submission, click here.
