Canadian Payments Modernization: The Journey So Far

According to a new Aite Group report, payment providers globally could learn much from studying the Canadian experience. 

Boston, January 17, 2019 — Although payments modernization, particularly for real-time payments infrastructure, is a global trend, few regions’ programs are as ambitious as Canada’s payments modernization initiative. The plan envisages a wholesale modernization of Canada’s clearing and settlement infrastructure across both retail and wholesale payments, and it provides a good case study of what payments modernization can mean for industry stakeholders globally. Aite Group’s latest report, Canadian Payments Modernization: The Journey So Far, provides an overview of the state of the Canadian payments modernization program.

“The Canadian Payments Modernization initiative is among the most ambitious modernization drives occurring anywhere globally, and the lessons learned in Canada are likely to have an impact in other regions,” explains Gilles Ubaghs, senior analyst at Aite Group.

This new Impact Note is based on publicly available information as well as Q4 2018 qualitative interviews with industry stakeholders within Canada. The report overviews the project’s initial aims, the latest design considerations, and the strategic and operational challenges the roadmap poses to Canada’s existing payment players.

To request a press copy of this report or to speak with Gilles Ubaghs about this topic, please contact us at

About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.

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