The revision of the Canadian Payments Act comes at a pivotal moment in the history of the Canadian payments industry. As the country embarks on a vast process of modernizing its clearing and settlement systems, the choices that will be made regarding the governance of Payments Canada promise to have a considerable influence on the industry's destiny.
Option consommateurs is delighted that payment industry players are making a concerted effort to update their increasingly aging infrastructures. Innovative systems, such as RTR, promise to transform the market by offering more efficient and competitive payment methods - in short, a payments infrastructure that matches the technological capabilities of the 21st century.
Nevertheless, while the planned reforms will have a considerable impact on consumers, Option consommateurs is concerned that the interests of end-users are the poor relation. In this context, the present consultation is an opportunity to highlight to the Ministry a number of issues that deserve particular attention.
