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… are integral parts of the legal framework of the national payment systems that Payments Canada is legislated to establish and operate. … financial institutions on the appropriate handling of payment items exchanged, cleared and settled via our …
… will support introduction of data-rich, high-value payments in Canada . On November 5, 2022, Payments Canada successfully deployed the MX code to Lynx , Canada’s high-value payment system. This is the technology needed to introduce …
… Payments Canada welcomes and congratulates the new … , effective July 1, 2022. These experts from across the payment ecosystem will provide a wide range of views that are essential to the role of MAC and the future of payments in Canada. Effective July 1, 2022, the new …
… Canada’s payments Modernization program is moving along quite nicely … , enhancements to Automated Funds Transfer (AFT) – or batch payments - will be first out of the gate. We are looking … This tells me that AFT – what I call the workhorse of the payments system - is due for a day in the sun. Our …
… of Finance established a task force to analyze Canada’s payments system and make recommendations on the future of payments in Canada. They were asked to: Review the safety, soundness and efficiency of the payments system; Determine whether there was sufficient …
… Payments Canada launched Lynx, Canada’s new high-value payment system in summer 2021. The organization is gearing … introduce ISO 20022 with the implementation of the Lynx MX payment messages. This implementation will assist Canadian …
… Payments Canada spoke with Brenda Gibson, Vice President, … Mutual Insurance Company about the opportunities modernized payments can bring to insurance organizations and their customers. What are some of the payments challenges the insurance industry faces? One of the …
… Regulatory environment The Payment Clearing and Settlement Act assigns the Bank of … systems for the purpose of controlling systemic risk and payment system risk. Lynx has been designated as systemically important under this Act and, as a result, Payments Canada is subject to oversight from the governor of …
… Payments Canada asked Victoria Cleland the Bank of England’s Executive Director for Banking, Payments and Financial Resilience to talk about the impact … (RTGS) system will have on transforming electronic payments in the United Kingdom and the projected value of …