News

March 28, 2017
It’s an exciting time to be part of the Canadian payments ecosystem. Payments were once the afterthought of business. But innovations over the past decade, including major changes in mobile, AI, security, and the emergence of blockchain technology,... Read more about Director of the MIT Media Lab and Author of Whiplash, Joi Ito, to deliver keynote address at The Summit
March 27, 2017
Welcome to our Summit speaker spotlight series! Each week, learn more about one of our amazing speakers, then make sure you attend their session at The Summit, Canada’s premiere payments conference, May 24-26 in Toronto, ON. We’re proud to welcome... Read more about The Summit Speaker Spotlight: Martin Kyle, Director, Operational Risk and CISO, Central 1 Credit Union
March 21, 2017
OTTAWA; March 21, 2017 – Payments Canada has selected global consulting firm Accenture (NYSE: ACN) to help it lead Modernization — the multi-year initiative to transform the systems and rules essential to Canada’s payments ecosystem. Due to the... Read more about Payments Canada Selects Accenture to Support Industry-Wide Modernization Program
March 21, 2017
Jan Pilbauer, Executive Director, Modernization & CIO sits down with Janet Lalonde, Director of the AFT Enhancements Pillar to discuss the benefits of Automated Funds Transfer (AFT) Enhancements, ISO 20022, and the team’s recent successes. Video... Read more about The Director's Cut: Making Strides on AFT Enhancements
March 20, 2017
Welcome to our Summit speaker spotlight series! Each week, learn more about one of our amazing speakers, then make sure you attend their session at The Summit, Canada’s premiere payments conference, May 24-26 in Toronto, ON. We’re proud to welcome... Read more about The Summit Speaker Spotlight: Andy Dharmani, Chief Executive Officer, Flo2Cash Payments Cloud
March 13, 2017
Welcome to our Summit speaker spotlight series! Each week, learn more about one of our amazing speakers, then make sure you attend their session at The Summit, Canada’s premiere payments conference, May 24-26 in Toronto, ON. We’re proud to welcome... Read more about The Summit Speaker Spotlight: Firoz Patel, Global Executive Vice President, Payza
March 10, 2017
Payments Canada is bringing together some of the finest minds from start-ups, FinTechs and large financial institutions at this year’s Payments Canada Summit in May. In keeping with the cutting-edge content and dialogue of this year’s event, we are... Read more about Don Tapscott featured as a Keynote Speaker at Payments Canada Summit
March 7, 2017
Welcome to our Summit speaker spotlight series! Each week, learn more about one of our amazing speakers, then make sure you attend their session at The Summit, Canada’s premiere payments conference, May 24-26 in Toronto, ON. We’re proud to welcome... Read more about Speaker Spotlight: Joni Brennan, President of the Digital ID & Authentication Council of Canada (DIACC)
February 22, 2017
Calgary-based ATB Financial recently underwent a major transformation – replacing its core banking system. Payments Canada had the opportunity to speak with John Tarnowski, Senior Vice President - Head of Customer Experience, to talk about the... Read more about Lessons learned from ATB’s core banking system revitalization
Mod Blog
February 22, 2017
Canada’s payments Modernization program is moving along quite nicely and, as outlined in our Roadmap & High-Level Plan , enhancements to Automated Funds Transfer (AFT) – or batch payments - will be first out of the gate. We are looking forward... Read more about Mod Blog: Long live the batch – Why modernizing AFT is the right move for Canada
February 21, 2017
Payments Canada is mapping its multi-year journey towards a modernized payments system that will enable significant improvements to the overall payments system through innovation, as well as convenient, safe and efficient payment options for... Read more about Canadian public weighs in on Payments Canada’s Modernization Roadmap & High-Level Plan
February 17, 2017
On February 21, Payments Canada CEO, Gerry Gaetz, will participate as a panelist in a FinTech workshop hosted by the Competition Bureau of Canada. During the workshop, Driving competition and innovation in the financial services sector , market... Read more about Panel participation by Payments Canada CEO Gerry Gaetz at Competition Bureau FinTech workshop
February 9, 2017
Payments Canada, the Bank of Canada, financial innovation firm R3 Lab and Research Centre and seven financial institutions have come together as an industry to investigate distributed ledger technology (DLT) – a shared database – for interbank... Read more about Payments Canada launches new research under Project Jasper
February 2, 2017
Each year, Payments Canada provides an engaging and enlightening forum for everyone in the payments ecosystem to come together to learn, to meet and to challenge. The Summit is the place to be for all things payments. Here are five reasons why you... Read more about Five reasons why you need to attend The Summit
January 24, 2017
Industry Interviews: Jan Pilbauer, Modernization Executive Director & CIO, kicks off a Modernization video interview series - featuring members, stakeholders and the Payments Canada team - with Amanda McKay, Program Director. Video of The... Read more about The Director’s Cut: Featuring Amanda McKay, Modernization Program Director
Modernization Image
January 16, 2017
Payments Canada is seeking the public’s feedback on the Industry Roadmap & High-Level Plan for Modernization. If you have not already submitted your feedback, please do so by Friday, January 20. In December, Payments Canada released far-reaching... Read more about Reminder: Payments Canada is Seeking Feedback on the Industry Roadmap & High-Level Plan
December 19, 2016
Payments Canada recently released its Industry Roadmap & High-Level Plan for modernization, which includes the roll out of the ISO 20022 payment messaging standard across future payments infrastructure. We had the chance to speak with Bill... Read more about ADP calls on Canadian banks to get active on ISO 20022
December 8, 2016
Payments Canada announces far-reaching plans to improve payments infrastructure and rules Ottawa, ON (December 8, 2016) - Payments Canada today released far-reaching plans to change the payments infrastructure and rules that underpin financial... Read more about Changes to Canada’s payments systems will create faster, more flexible and secure ways to pay
November 29, 2016
Payments Canada recently sat down with Christine Hunter, Vice President of Enterprise Payments and Brad Mowat, Senior Manager of Payments at TD Bank Group to discuss how their organization is setting up to support payments system Modernization. Read... Read more about TD Readies for Payments Modernization
November 16, 2016
Need for fast, flexible and secure payments system drives Modernization in Canada Ottawa, ON – (November 16, 2016) – Payments Canada has released new research that reveals the changing payment behaviours of Canadian consumers and businesses. The... Read more about Canadian Payment Methods and Trends Report finds cash is king, for now
November 1, 2016
Payments Canada The Canadian economy depends on the exchange, clearing and settlement of billions of dollars each day. Payments Canada underpins the Canadian financial system and is responsible for operating Canada’s core payment clearing and... Read more about Join the journey to modernization: Payments Canada seeks nominees for its Stakeholder Advisory Council
October 18, 2016
Payments Canada’s Brad Pragnell, a consultant on our modernization initiative, was brought into the project for his expertise in helping to develop a new infrastructure for fast, rich data payments in Australia. A Canadian with 20 years’ experience... Read more about Lessons learned from the modernization of Australia’s payments systems
October 11, 2016
Research by Payments Canada and the Bank of Canada has shown that countries around the world are making innovative changes to their systems to pave the way for faster payments. As Payments Canada moves forward with its modernization strategy, the... Read more about Speed Merchants: Clearing and settlement systems around the world becoming faster
September 2, 2016
Payments Canada has released a new discussion paper that promotes conversation about credit risk in the Automated Clearing Settlement System (ACSS), which isn’t widely understood. The paper, A Primer on Credit Risk in Payments Canada’s Automated... Read more about New Payments Canada discussion paper examines credit risk in the ACSS
August 31, 2016
Payments Canada made a submission to the Competition Bureau’s market study that will look at technology-led innovation and new services in the Canadian financial sector. The study, titled Technology-led Innovation and Emerging Services in the... Read more about Payments Canada makes submission to Competition Bureau study
July 19, 2016
June 20 marked the close of Payments Canada’s public consultation on the Vision for the Canadian Payments Ecosystem, which was developed with the support of McKinsey & Company. The Vision was developed in collaboration with more than 100... Read more about Payments Canada Concludes Consultation on Vision for Future Payments
June 18, 2016
OTTAWA, June 18, 2016 – Today, Payments Canada welcomes four new directors to its Board. With the election of these four newest Board members, our path to a new governance model is nearly complete. Under the leadership of the Chair, Eileen Mercier... Read more about Payments Canada welcomes four new Directors to its Board
June 16, 2016
Analysis of 27 modern payment systems uncovers common features but varied paths to delivery Ottawa, ON (June 16, 2016) – Research released today by Payments Canada and the Bank of Canada exploring payment system modernization initiatives around the... Read more about Payments Canada, Bank of Canada Research Highlights Global Trend Towards Faster Payments
June 15, 2016
Payments Canada hosts more than 500 delegates for three days of discussion and investigation CALGARY, June 15, 2016 – Today, Payments Canada welcomed representatives from across the payments industry to Calgary where more than 500 delegates will... Read more about Blockchain, Fintech and the Future of Finance: Canada’s payments conference kicks off in Calgary
June 15, 2016
New name and visual identity signals change for a modernizing organization and industry OTTAWA, June 15, 2016 – The Canadian Payments Association (CPA), the country’s financial market infrastructure for payments, announced today it has changed its... Read more about Canadian Payments Association becomes Payments Canada
June 9, 2016
The CPA is seeking the public’s feedback on Vision for the Canadian Payments Ecosystem If you have not already submitted your feedback, the consultation process ends Monday, June 20. As a foundational step on our path to modernization, the CPA led... Read more about Reminder: The CPA Seeking Feedback on the Vision for the Canadian Payments Ecosystem
June 8, 2016
Five Canadian startups will compete for $25,000 in prizes on June 15 in Calgary Ottawa, ON - (June 8, 2016) - Five FinTech startups will compete for Canada's inaugural FinTech Cup on June 15 in Calgary at the 2016 Payments Panorama Conference. The... Read more about Finalists announced for Canada's FinTech Cup
June 7, 2016
The CPA has launched an initiative to modernize Canada's framework for point-of-service (POS) payments. The proposed framework, Enhancing the CPA's framework for point of service payments will support and enable alternative authentication... Read more about CPA seeks feedback on enhancements to point-of-service payments framework
June 7, 2016
Updated: June 7, 2016 The CPA Board of Directors approved amendments to the Automated Clearing Settlement System (ACSS) at its April 7, 2016 meeting. These amendments come in effect on June 7, 2016. The Rules section is updated on the day the... Read more about Changes to rules and standards
May 24, 2016
FinTechs compete for $25,000 prize purse (May 24, 2016) Five FinTech startups will compete for Canada’s inaugural FinTech Cup on June 15th in Calgary at the 2016 Payments Panorama Conference . In addition to the $25,000 prize purse, the FinTech Cup... Read more about Silicon Valley heading to Calgary for Canada's 1st Fintech Cup Startup Challenge
May 12, 2016
Ottawa, ON – (May 12, 2016) – From the smallest FinTech startups to the biggest financial institutions, the Canadian Payments Association (CPA) is bringing together diverse payment perspectives to forge paths for future change at Payments Panorama... Read more about Media Advisory: Canada’s largest payments conference set to bring together payments leaders on innovation, collaboration and change
May 2, 2016
Ottawa, ON – (May 2, 2016) - (The Bank of Canada announced today) [http://www.bankofcanada.ca/2016/05/bank-canada-designates-automated-clearing-settlement-system/] that the Canadian Payment Association’s (CPA) “retail” payments system, the Automated... Read more about ACSS Designated a Prominent Payment System by the Bank of Canada
April 25, 2016
Canadian business community leaders and financial institutions endorse ISO 20022 adoption Ottawa, ON – (April 25, 2016) - Today, Canada joins a growing list of countries that have adopted ISO 20022, an important first step in the modernization of... Read more about CPA Leads Transition to Electronic Payments with Launch of Global Messaging Standard in Canada
April 20, 2016
Financial Institutions, Bank of Canada, government, new players and stakeholders share a common future view for payments in Canada April 20, 2016 The Canadian Payments Association (CPA) has uncovered a common vision for payments in Canada, working... Read more about CPA uncovers a common vision for progress in payments
March 28, 2016
Bank of Canada and the Canadian Payments Association Workshop on the Modelling and Simulation of Payments and Other Financial System Infrastructures: Ottawa, Canada, 27-28th October 2016 March 28, 2016 The workshop, organized jointly by the... Read more about Workshop Announcement and Call for Papers
March 23, 2016
March 23, 2016 The 2016 Federal Budget, released Tuesday, March 22, includes measures to enhance the financial consumer protection framework, the Bank Act, federal financial institution legislation and the management of systemic risk in Canada’s... Read more about Federal Budget 2016: Financial Sector Highlights
March 18, 2016
March 18, 2016 Gerry Gaetz, President and CEO of the Canadian Payments Association (CPA), spoke about creating positive change in the payments ecosystem in a presentation to Calgary treasurers, cash managers and corporate finance professionals on... Read more about Gerry Gaetz addresses Association of Financial Professionals of Calgary on creating positive change in the payments ecosystem
March 7, 2016
Payments Canada has collaborated with SWIFT on an information paper that outlines the expected benefits of ISO 20022 and ERI adoption in Canada. Adoption of ISO 20022 for Payments and Extended Remittance Data in Canada details the existing... Read more about Payments Canada partners with SWIFT to examine the benefits of ISO 20022
February 3, 2016
February 3, 2016 The program at Payments Panorama 2016 features: 90 + speakers 40 breakout sessions 13 hours of dedicated networking 13 keynote speakers 1 mobile app Plus a demo stage, exhibit hall, private rodeo and our host Amanda Lang! Join us... Read more about The Payments Panorama 2016 program is now available!
December 18, 2015
Traditional payment methods still prevail, but cash and cheque decline accelerates as businesses and consumers adopt new technologies Ottawa, ON -- (December 18, 2015) – New research released today from the Canadian Payments Association (CPA) shows... Read more about CPA Releases Multi-Year Data on Canadian Payment Methods and Trends
November 20, 2015
You’re invited… to help shape Canada’s payments system! The CPA invites stakeholder organizations to nominate individuals for membership on our Stakeholder Advisory Council (SAC), one of the most important channels through which the Association... Read more about CPA seeks nominations for its Stakeholder Advisory Council
November 17, 2015
Ottawa, ON -- (November 17, 2015) – The Canadian Payments Association (CPA) has launched a multi-year initiative to modernize Canada’s core payments infrastructure which will ultimately use an internationally recognized payment messaging standard -... Read more about The economic benefit of adopting the ISO 20022 payment message standard in Canada
October 1, 2015
During Cyber Security Awareness Month, we want to connect you with tips and tricks to help you and your loved ones remain safe when you’re online. How can you stay connected? Follow the CPA on Twitter and hashtags #CyberTalk and #CyberAware... Read more about October is Cyber Security Awareness Month
September 25, 2015
If you haven’t already, help the Canadian Payment Association create new payment opportunities in Canada by participating in the CPA’s public consultation on the ISO 20022 Payments Standard Initiative. All payment system users and stakeholders are... Read more about Time is running out! Have your say on the CPA’s ISO 20022 Payments Standard Initiative before September 30, 2015
September 17, 2015
Canadian Payments Association and Bank of Canada release research outlining areas of focus for the payment industry in developing a shared vision for the future Ottawa, ON -- (September 17, 2015) – As part of its initiative to modernize Canada's... Read more about Modernizing Canada's Payment System requires a holistic approach
September 8, 2015
The CPA responded to the Bank of Canada's consultation on the Proposed Criteria and Risk-management Standards for Prominent Payment Systems. Read the full CPA response to the Bank of Canada's consultation... Read more about Proposed Criteria and Risk-management Standards for Prominent Payment Systems – CPA submission in response to the Bank of Canada
September 4, 2015
The Canadian Payments Association (CPA) is seeking the input of Canadian corporates in a new online survey about payment processes, needs and preferences. The survey is part of the CPA’s comprehensive consultation on the roll out of an... Read more about Canadian Payments Association (CPA) seeks corporate input on Canadian Payments
August 10, 2015
August 10, 2015 The CPA has launched a multi-year initiative to modernize Canada's core payments infrastructure which will ultimately use a new internationally recognized payment messaging standard – ISO 20022. But ISO 20022 is more than just a... Read more about Creating new opportunities in Canadian Payments: CPA seeking feedback on its ISO 20022 Payments Standard Initiative
August 10, 2015
August 10, 2015 Ottawa, ON -- (CPA, August 10, 2015) - The Canadian Payments Association (CPA) announced today two key initiatives to support its multi-year project to modernize Canada's core payments infrastructure. The CPA has begun a process to... Read more about Canadian Payments Association Launches Initiatives to Support Modernization of Canada's Payments System
July 23, 2015
July 23, 2015 Ottawa, ON-- (CPA - July 23, 2015) - The Canadian Payments Association (CPA) today announced the election of a new Board of Directors pursuant to legislation adopted by Parliament last December. The new board will be chaired by Eileen... Read more about Canadian Payments Association (CPA) announces new Board of Directors and governance model to better serve Canada’s payment and financial systems
July 8, 2015
July 8, 2015 New research from the Canadian Payments Association (CPA) reveals compelling evidence of the strong relationship between the use of Automated Funds Transfer (AFT) payments and the declining use of cheques in Canada. In a newly released... Read more about Compelling new evidence of strong link between AFT and Canada's cheque decline
July 2, 2015
July 6, 2015 On July 2, 2015, the Large Value Transfer System (LVTS) settled 56,553 payments, which is a new peak volume for a single day. This represents an increase of 6.3% compared to the previous peak day, on July 2, 2013. Peak volume days for... Read more about New peak volume day for the Large Value Transfer System
June 11, 2015
Canadian Payments Association Submission in Response to Finance Canada June 11, 2015 Note: This submission reflects the views of the Canadian Payments Association and not necessarily those of any one of its individual member institutions. 1... Read more about Oversight of National Retail Payments Systems – CPA Submission in Response to Finance Canada
June 1, 2015
June 1, 2015 The CPA is pleased to announce that on June 1, 2015, ICICI Bank Canada (institution number 340) began operations as a Large Value Transfer System (LVTS) direct participant. With the addition of ICICI Bank Canada, there are 17 direct... Read more about ICICI Bank Canada begins operations as LVTS direct participant
April 27, 2015
April 27, 2015 In the cheque imaging world, duplicate payment items (duplicates) are risky business. As explained in Part 1 of this series, the CPA has opened industry dialogue on this issue to explore ways to manage the risk effectively. We believe... Read more about What might need to change in the imaging environment? (Duplicate Items, Part 4)
April 2, 2015
April 2, 2015 The CPA welcomes and congratulates the newest appointees to its Stakeholder Advisory Council (SAC) . SAC members are appointed by the CPA Board of Directors , in consultation with the Minister of Finance. The new appointees are: Brenda... Read more about CPA welcomes newest appointees to its Stakeholder Advisory Council
March 30, 2015
March 30, 2015 In Part 1 of this series, we discussed the importance of understanding and managing the risk of duplicate payment items (duplicates) in the cheque imaging world, and how the CPA opened industry dialogue on this issue in Canada. In... Read more about The current Canadian framework (Duplicate Items, part 3)
March 2, 2015
March 2, 2015 The CPA supports the introduction of new payment methods and technologies while carefully monitoring and managing related risks. In Part 1 of this series, we explained the importance of understanding the risk of duplicate payment items... Read more about Lessons learned from the U.S. experience (Duplicate Items Part 2)
February 18, 2015
February 18, 2015 As Canadians, we benefit from national payments systems designed with our best interests in mind. As technology advances, the Canadian Payments Association (CPA) is creating new opportunities for payment system users to send and... Read more about CPA leads industry dialogue on duplicate payment items in the imaging environment (Duplicate Items Part 1)