Canadian Payments Association - Activities

Activities

In March 2010, the CPA released its long-term Payments Strategy: Vision 2020, a roadmap for personal, corporate and wholesale payments which ensures that the systems for payments, clearing and settlement continue to evolve to meet the needs of Canadians until the year 2020, and beyond. Vision 2020 focuses on five pillars:

• Promotion of electronic payments;
• Driving efficiencies in payments;
• Modernizing the CPA legal framework;
• Enhancing the robustness of CPA Exchange, Clearing and Settlement IT Systems; and
• Enhancing services that promote knowledge and information sharing to better meet the needs of CPA clearing and settlement system participants and users.

Arising from these objectives, in 2010 the CPA:

• supported the Government of Canada's Task Force for the Payment System Review with its submission Building a Strong Foundation for Canada's Digital Economy;
• undertook a rigorous review of its clearing and settlement framework to ensure it continues to be efficient and sound, while meeting the needs of its members, stakeholders and the marketplace;
• developed a Long Term Technology Strategy and Transition Roadmap to modernize the CPA's core clearing and settlement systems; and,
• hosted the International Council of Payment Association Chief Executives (ICPACE), which includes representatives from the United Kingdom, Ireland, South Africa, Australia, the United States, New Zealand and Canada.