Published: May 30, 2020
Payments Canada has published its 2019 annual report, Delivering Payments Modernization. Together. Collaboration was the clear theme of 2019 as we continued to prepare for and implement new payments systems. The report captures our achievements, activities and the significant strides made in our Modernization journey.
In 2019, Payments Canada cleared and settled more than 8.3 billion transactions, totalling $55 trillion, or $218 billion each business day. Progress was made on Modernization, specifically surrounding Lynx, where we advanced timelines and solidified strong industry partnerships and advanced on Real-Time Rail with our members and partners. We delivered on core business and made great progress across our service offerings, from initiatives to support ISO 20022 to API development to addressing the rising payments knowledge gap through international collaborative efforts. We also welcomed new leaders as we improved our internal services. As a connector in our ecosystem, we continued to facilitate an enhanced and more collaborative member and stakeholder engagement experience.
Our vision is to make the Canadian economy stronger by always striving to lead the world in what we do. Together, with our members, partners and stakeholders, we are delivering on a modernized payments system that is fast, flexible and secure. We are confident that a modernized payments system will support the Canadian economy, promote innovation for the benefit of all Canadians and strengthen our international competitive position.