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# Payments Canada calls for broader access to payment infrastructure in response to federal pre-budget consultation



February 10, 2023

*Proposed legislative amendments will support safe innovation for the benefit of Canadians.*

Payments Canada has submitted the following response to the Government of Canada’s pre-budget consultation, focused on building a resilient economy that works for everyone.

Our submission calls for the government to make amendments to the *Canadian Payments Act* as part of Budget 2023. These amendments would expand Payments Canada’s membership eligibility to include credit unions, payment service providers (regulated under the [*Retail Payment Activities Act*](https://laws-lois.justice.gc.ca/eng/acts/R-7.36/page-1.html)) and financial market infrastructure entities (designated under the *[Payments Clearing and Settlement Act](https://laws-lois.justice.gc.ca/eng/acts/P-4.4/)*). Doing so will encourage competition and safe innovation in payments, meaning greater choice and flexibility for Canadians and Canadian businesses in addressing their payment needs.

The 2023 pre-budget submission echoes our [open letter to the Minister of Finance](https://www.payments.ca/joint-letter-minister-finance-changes-canadian-payments-act), co-signed by leading financial organizations from across Canada’s payment ecosystem, calling for broader access to Canada’s payment systems. It also reflects [Payments Canada’s response](https://www.payments.ca/payments-canada-calls-expanded-membership-eligibility) to the House of Commons Standing Committee on Finance (FINA) 2023 pre-budget consultation in October 2022.

[**2023 Pre-Budget Submission**](/sites/default/files/2023_PaymentsCanada_FinanceCanada_Pre-BudgetSubmission_En.pdf)



 

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