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Payments Canada welcomes returning Member Advisory Council members
… Effective July 1, 2023, the returning MAC appointees are: Bank of Montreal, Derek Vernon, Head, TPS Product Management … Whitney, Vice President, Payments Strategy & Relationships Bank of America, Leslie Konecny, Director, Head of Product for Global Transactional Services Canadian Imperial Bank of Commerce (CIBC), Michael Liberty, Vice President, …
Federal budget 2024 — payment industry highlights
… budget, Fairness for Every Generation : Consumer-driven banking — The Financial Consumer Agency of Canada (FCAC) … to oversee, administer and enforce Canada’s consumer-driven banking framework. This spring, the government plans to … lay the groundwork of this framework. Free and affordable bank accounts — FCAC is in negotiations with banks to secure …
Wealthsimple Q and A: Access, innovation and the future of payments in Canada
… member, being granted a direct settlement account at the Bank of Canada and what the future has in store for payment … TransferWise) was able to completely transform the international money transfer space. Money management app, Revolut, became an international powerhouse. By allowing competition — and by making …
Payments Canada Elects Four New Board Directors
… Payments for RBC, Burke is responsible for leading the bank’s enterprise payments strategy and council, covering … . Desjardins is Chair of the Board of Directors of B2B Bank and President and Chief Executive Officer of Laurentian Bank of Canada. With more than 25 years of experience in …
De-tiering large value payment systems: The case of the Canadian LVTS
… by a ‘tiered’ structure, whereby a small number of banks are direct members of the system (also called ‘first tier’) and the majority of banks are indirect members (‘second tier’). The smaller the number of direct banks over the total sector, the higher the level of …
Direct clearer
… A CPA member (other than the Bank of Canada) that, on its own behalf, exchanges payment …
Settlement account
… established and maintained by each direct clearer, at the Bank of Canada, or by each indirect clearer with its …
Member update
… that have become members over the past few years. Motus Bank (January 10, 2019) Peoples Bank of Canada (October 16, 2019) The Manufacturers Life … 2021) For 2022, Payments Canada has 111 members including banks, credit unions, life insurance companies and …