Payments News

Study: Canadian merchants stand to save billions from modernized payments system

Feb 07, 2018

Canadian merchants would greatly benefit from a more modernized payments system in the country as a new study revealed this week that delays in processing and a lack of data and transparency in payment messaging create a number of inefficiencies for small, medium and large enterprises.

"The modernization of Canada's payment systems — specifically the introduction of faster, safer and more data-rich payments — will bring highly efficient options to Canadian businesses that will lower operational costs and boost bottom line returns over time," Gerry Gaetz, president and CEO of Payments Canada, said in a press release about the report

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