Payments Modernization in Canada

are changing. The payment landscape is changing, and so are the needs of Canadians. Payments Canada is working to modernize Canada's payment systems.

MODERNIZING CANADIAN PAYMENTS

To address this opportunity, Payments Canada is currently undertaking a multi-year initiative to modernize Canada's payments system. The first step in this ...

Laying bare the evolution of payments in Canada

The four pillars of payments modernization · A safe and secure high-value payments system · Supervision of payment service providers · Real-Time ...

Future-proofing our payments systems - Bank of Canada

Lynx. Launched in 2021, this is Canada's safe and secure high-value payment system. Lynx is used by banks and financial institutions to settle ...

The future of payments in Canada: are we finally making progress?

An effective open banking framework also requires a modernized payments infrastructure. In 2016, Payments Canada embarked on a multi-year project to modernize ...

Payment modernization | Deloitte Canada

This report summarizes the key findings highlighting payment needs for corporates and governments across Canada.

A Look at Canada's Payments Modernization Journey

We asked Tracey Black - Payments Canada's Executive Director of Modernisation - to share some details about the modernisation of payments in Canada and the role ...

How Canadian banks can make the most of the payments revolution

Canada is undertaking a massive modernization of its payments infrastructure, with everything from the real-time rail to cross-border payments ushering in ...

A guide to modernizing payments in the financial sector

Open banking has been one of the most talked-about initiatives of Canada's payments modernization. It will give consumers the right to their own ...

Payments modernization: Balancing the risks and rewards - Deloitte

The end-state envisioned by Payments Canada is the creation of a truly modern payments system that is fast, flexible, secure, promotes innovation, and ...

Faster, modern payments for a digital-first Canada - Interac

Payments Canada is modernizing Canada's national payments infrastructure, which includes the Real-Time Rail (RTR), a real-time payment system that will enable ...

Bank Of Canada To Modernize Payment Systems - Finimize

The Bank of Canada plans to enhance oversight on payment service providers to modernize the country's financial system, with new regulations starting by ...

Payments Modernization in Canada: Open Banking

We explore Canada's approach to open banking, how it will benefit Canadian consumers, businesses and the economy, and lessons that can be learned from around ...

Payments modernization in the age of acceleration - PwC

According to PwC payments research, cashless payments growth in the US and Canada are projected to nearly double by 2030. In this article, we explain the need ...

Pathway to payments modernization in focus at OBExpo Canada 2024

The panel debate, titled 'Payments Modernization: Forging Ahead with Canada's Pathway', opened with a discussion on the recent legislative ...

Canada's real-time payment system launch delayed until 2026

Canada's financial landscape is set to transform with the Real-Time Rail (RTR) upgrade, aiming for instant, 24/7 payments.

Payments modernization: Lessons for Canada from around the world

Using Interac e-Transfer for Business, for example, an organization can send a payment for up to $25,000 in real time, with rich data conforming ...

Payments push: trends in payments modernization and regulation in ...

Payments Canada is responsible for the operation of the national clearing and settlement infrastructure and is currently in the process of implementing a new ...

Canadian Payments Modernization: The Journey So Far

The plan envisages a wholesale modernization of Canada's clearing and settlement infrastructure across both retail and wholesale payments, and it provides a ...

4 FI Challenges of Canada's Payments Modernization - Feedzai

Payments Modernization brings both significant opportunities and significant challenges for Canadian banks and credit unions.