[News](https://www.payments.ca/insights/news-research?field_article_type=24) # Payments Canada's 2017 Annual Report: Ushering in a New Era of Payments is Now Available May 31, 2018 Payments Canada has much to be proud of in 2017. The organization built internal capabilities by growing its workforce and improving the resiliency of its systems, made great strides on its mission to facilitate payments innovation and set the stage to usher in a new era of modern payments. In 2017, Payments Canada cleared and settled $7.5 billion transactions totaling $50.45 trillion, averaging $199 billion each business day. Not only did the organization continue to operate a safe, secure and reliable payments system for all Canadians, it also made tremendous progress towards building connections to facilitate a successful [modernization program](https://www.payments.ca/insights/modernization). The most important milestones included aligning the industry on the revised [roadmap](sites/default/files/2022-07/paymentscanada_roadmapreader_en.pdf) and [target state](/sites/default/files/modernization_target_state_companion_reader_en.pdf), building capacity of the team and securing funding for the program. 2017 also marked our most important year to date in building the depth of expertise that will help realize the success of Payments Canada's Modernization efforts. Focused on retaining superior talent, fostering engagement, and expanding our capabilities around personal leadership and creativity. This growing team and an expanding array of skill sets are helping us to both mitigate operational risk and to position our organization as an influencer with the financial ecosystem. What propels us forward is the collective ambition to deliver a fast, flexible and secure payments system that promotes innovation and strengthens Canada's competitive position. **Download the complete 2017 Annual Report, [Ushering in a New Era of Payments](https://www.payments.ca/sites/default/files/pc18_annualreport_en_final.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)