Canada’s payments system is undergoing rapid and fundamental change. The bulk of it is driven by the combined forces of technological innovation and the desire of consumers to realize the benefits, most notably the convenience, of new technologies. But is all of this rapid change going in the right direction? Is it sufficiently coordinated? Is it safe? Is it sound?
Are users’ interests well protected? These are important questions. And addressing them represents the important challenges we all face. We must respond – in a coherent and far-sighted manner. Payment systems matter to Canadians. Every year, we make approximately 24 billion payments, worth more than $ trillion.