How we collaborate
We are responsible for bringing together a diverse sector to serve Canadians and for empowering a new era of modern payments where a robust and vibrant economy thrives.
As Payments Canada pursues its mandate to facilitate interoperability and innovation in the payment systems, we will continue to drive collaboration across the ecosystem. The legislated mandate set out in the Canadian Payments Act outlines the role of our Board of Directors and supporting councils.
Our board is composed of a majority of independent directors, and augmented with member representatives who are experts in the payment industry. The board is supported by the Member Advisory Council and Stakeholder Advisory Council, both of which are strong and engaged in their duties and responsibilities to the board. Collaboration has enabled us to lead an industry movement that will put Canada at the forefront of modern payments.
Collaborating with a changing ecosystem
In pursuing our mandate, we must balance a wide spectrum of stakeholders with different, and sometimes divergent, interests. As we manage these diverse points of view, we must at the same time be mindful of the highly regulated environment in which we operate. These factors combine to create an operating environment that is complex and, at times, challenging. That’s why we collaborate with stakeholders across the payment ecosystem to create the necessary balance of rules and standards.