Search results
… 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 …
… Susan Hawkins is the President and CEO of Payments Canada, leading the organization's next phase of development to meet the evolving payment needs of Canadians. Under her leadership, Payments Canada is focused on modern payment technology …
… 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 …
… 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 …
… 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 …
… Through extensive consultation with our program partners, Payments Canada has determined the need for revised launch timing for the Real-Time Rail (RTR) payment system. An extension in the delivery date (or … RTR system. We recognize that there will be impacts for the payment ecosystem in Canada. Our members, regulators, …
… 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 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 …