On July 28, Payments Canada released its 2020-2024 Corporate Plan, highlighting a number of legislative and regulatory initiatives, including:
Introduction of the Retail Payments Oversight Framework (RPOF)
Review of the Canadian Payments Act
Consultation on the implementation of Open Banking
Assessment of the opportunity to issue Central Bank Digital Currency (CBDC)
The regulatory and policy landscape plays a central role in the transformation of the payments ecosystem and these initiatives may support greater payments competition and innovation to benefit all Canadians.
Read more: Payments Canada 2020-2024 Corporate Plan