2018 marked a significant year for Payments Canada’s Modernization journey. With our Modernization partners, the first major milestone of our roadmap was passed, kicking off a year of high intensity for the evolution of payments in Canada.
Payments Canada has much to be proud of in 2017. The organization built internal capabilities by growing its workforce and improving the resiliency of its systems, made great strides on its mission to facilitate payments innovation and set the stage to usher in a new era of modern payments.
2016 marked our transition to a new name and visual identity: Payments Canada. The new brand signals our growing connections and continued focus on modernizing Canada’s payment system and rules to meet the evolving needs of Canadians in a rapidly changing payments marketplace.
We continued to evolve and enhance our organization to meet the challenges of a shifting payments landscape while operating critical national infrastructure. With a strong focus on Modernization, we undertook several initiatives geared to support progress in achieving our strategic goals.
While continuing to operate critical national infrastructure, the CPA must evolve to meet the challenges of this shifting Canadian and global payments landscape both in Canada and abroad. Over the course of 2014, we undertook several key initiatives geared to support a successful transition to a renewed CPA.
The CPA is accountable for the operations of the national clearing and settlement systems. We’re transparent about what we do, and we’re proud of the results. So this year, we are introducing changes to our corporate reporting through the publication of our first Annual Report, one that closely follows industry best practices.
Each business day in 2012, our national clearing and settlement systems facilitated the cross-country exchange of close to 26 million payments—safely, securely and efficiently. We’ll continue to deliver this outstanding level of service for years to come as a result of our ongoing Technology Strategy, a multi-year plan to modernize key components of the CPA’s system infrastructure.