We created Payments Academy as a way for Canadians whether working in the financial industry or just curious about how financial systems work to learn more about the exciting world of payments. Payments Academy is organized in to several videos each dealing with a specific topic such as modernization. Check back as more videos get added to the series.
Payments Modernization 101
Canada and countries around the world are moving to a new payments message standard that supports larger amounts of data to be transmitted in a payment. What does that mean for Canadians? Payments carrying more information with each transaction, better interoperability, more convenience and opportunities for economic efficiency, to name a few benefits. It’s all part of modernizing Canada’s payment systems. Learn more about data-rich payments and the coming changes for Canada and the world.
For information about payments modernization please visit modernization.payments.ca
The following videos are part of Payments Canada's original Learning Exchange series.
* LVTS was replaced by Lynx, Canada’s new high-value payments system in 2021.