A key objective of Payments Canada’s Modernization program is to enhance the framework of rules and by-laws to ensure they remain relevant, reflect current market practices, achieve an appropriate balance between flexibility and compliance, and facilitate innovation.
Payments Canada is requesting feedback on policy proposals that will inform the drafting of the by-law for Canada’s new high-value payments system, Lynx.
Payments Canada seeks to support broad financial institution member eligibility to participate directly in Lynx, without compromising the safety and soundness of the payments system. Also to address stakeholder’s needs, such as finality of payments to payee and the deduction of service charges from the original amount of a Lynx payment.
Payments Canada welcomes feedback on proposals outlined in the following Lynx Policy Framework consultation paper.
The deadline for consultation is November 15, 2019. Help inform Payments Canada’s Modernization efforts. Share comments and feedback by emailing firstname.lastname@example.org.