Quantifying the economic benefits of payment modernization: the case of the large-value payment system

In partnership with the Canadian Deposit Insurance Corp (CDIC) and the Bank of Canada, Payments Canada has released its latest research discussion paper, Quantifying the economic benefits of payments modernization: The case of the large-value payment system. The paper provides a framework to quantify the economic benefits of replacing the Large-Value Transfer System (LVTS) with Lynx, Canada's new high-value payment system, which launched August 2021. Insights from this paper will inform Payments Canada’s ongoing payment modernization initiative.