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 March 16 for the Association of Financial Professionals (AFP) Calgary. Calgary will be the location of Canada’s premier payments conference in June, Payments Panorama, run by the CPA.
“With evolving user needs, new and emerging technologies, market pressures and legislative requirements creating new opportunities and challenges in the global payments ecosystem, countries around the world are examining ways to better meet the payment needs of consumers, businesses and governments,” Mr. Gaetz explained.
Mr. Gaetz highlighted findings from Developing a Vision for the Canadian Payments Ecosystem, a study which will be released in April for public consultation. The Vision will help define a roadmap to modernize Canada’s national payments systems.
“In 2015, the CPA initiated a process to define characteristics of a modern payments ecosystem, what needs exists in the marketplace, and what is required to meet those needs,” Mr. Gaetz said, adding that more than 100 organizations have engaged and provided their input into the Vision.
Another key aspect of creating positive change in the payments ecosystem is the development of messaging standards and rules for Canada, based on the global payment messaging standard known as ISO 20022, which the CPA will be releasing in April.
To learn more about changes and innovation in the Canadian payments ecosystem, make sure to register for Payments Panorama, taking place in Calgary, June 15-17.