Canadians are looking at other countries' payment systems to modernize their own.
Boston, January 17, 2017 – Over the past few years, many countries have been actively engaged in the modernization of their payments systems to improve the speed, safety, and security of making payments between individuals, businesses, and government entities. Canadians have begun to look carefully at their legacy systems and have extensively researched what other global players are doing to try and assess how these schemas might best be applied to the needs of Canadian consumers and businesses.
This Impact Note will provide an overview of the proposed plans for the modernization of Canadian payments and how these plans might be achieved. To form the basis of this report, Aite Group reviewed materials from the Payments Canada organization and interviewed a spokesperson from Payments Canada as well as key product managers from leading Canadian financial institutions.
This 17-page Impact Note contains three figures and three tables. Clients of Aite Group’s Wholesale Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions Payments Canada (aka the Canadian Payments Authority) and The Bank of Canada.