[News](https://www.payments.ca/insights/news-research?field_article_type=24) # Modernization in Motion: Payments Canada’s 2018 Annual Report May 31, 2019 Payments Canada’s 2018 annual report, *Modernization in Motion*, is now available. The report captures the significant strides made in our Modernization journey, and highlights other achievements and activities from a high intensity year. In 2018, Payments Canada settled and cleared eight billion transactions, totalling $54 trillion and averaging $209 billion each business day. The first major milestone of our roadmap was passed -- implementing the interim [Credit Risk Model](https://www.payments.ca/canada-delivers-first-milestone-payments-modernization-program) -- followed by enhancements to [Automated Funds Transfer (AFT)](https://www.payments.ca/payments-industry-delivers-next-milestone-modernization-journey-faster-more-convenient-and-flexible), and progress was made on plans for the new real-time rail, Lynx and SOE. All the while, we continued to meet our financial and availability commitments, a true indication of our number one priority: operating safe and sound systems. Our vision is to make the Canadian economy stronger by always striving to lead the world in what we do. We remain confident that, with our members, partners and stakeholders, we are delivering a fast, flexible and secure payments system that will strengthen our country’s competitive position globally, support the Canadian economy and promote innovation for the benefit of all Canadians. Download the complete 2018 annual report, [Modernization in Motion](/sites/default/files/2022-07/paymentscanada_2018annualreport_en.pdf). [Return to newsroom](https://www.payments.ca/insights/news-research) ## Keep reading [ ![placeholder.png](/sites/default/files/styles/article/public/placeholder.png?h=5dafd208&itok=qKDbzxAp) News October 1, 2026 ### Payments Canada welcomes six new members as expanded membership... Twenty-two new members have joined since 2025 regulatory changes — a necessary step for those seeking access to critical national payment infrastructure, including the forthcoming Real-Time Rail... ](https://www.payments.ca/payments-canada-welcomes-six-new-members-expanded-membership-eligibility-reaches-one-year-milestone)[Learn more](https://www.payments.ca/payments-canada-welcomes-six-new-members-expanded-membership-eligibility-reaches-one-year-milestone) [ ![placeholder.png](/sites/default/files/styles/article/public/placeholder.png?h=5dafd208&itok=qKDbzxAp) News September 25, 2026 ### Payments Canada names Stephan Orzechowski as Vice President... Payments Canada is pleased to announce the appointment of Stephan Orzechowski as Vice President, Strategic Partnerships and Business Transformation. Stephan will lead strategic vendor partnerships... ](https://www.payments.ca/payments-canada-names-stephan-orzechowski-vice-president-strategic-partnerships-and-business)[Learn more](https://www.payments.ca/payments-canada-names-stephan-orzechowski-vice-president-strategic-partnerships-and-business) [ ![placeholder.png](/sites/default/files/styles/article/public/placeholder.png?h=5dafd208&itok=qKDbzxAp) News July 27, 2026 ### ACSS rule changes enhance payment system processes Updates provide expanded definitions and process efficiency Payments Canada has implemented a series of administrative and operational amendments to the Automated Clearing Settlement System (ACSS)... ](https://www.payments.ca/acss-rule-changes-enhance-payment-system-processes)[Learn more](https://www.payments.ca/acss-rule-changes-enhance-payment-system-processes)