The PayPod

In anticipation of The SUMMIT, Payments Canada's annual event coming to Toronto this May, we're exploring this year's theme: accelerating economic growth. To do that, we brought together leading experts for a panel on how payments are essential to a thriving economy, enabling new services that deliver value to both businesses and consumers. Guests:Janet Lalonde, Vice President of Business Program Delivery, Payments CanadaAbraham Tachjian, Chief Regulatory Affairs Officer, Brim FinancialRebecca Tasona, Chief Operating Officer of Canadian Personal and Business Banking, BMOKathleen Woodard, Head of Banking and Industry Advisory for the Americas, Microsoft 

Billions of dollars are held by Canadian financial institutions and every day, money is sent and received between bank accounts, safely. But how is your money so safe? In this episode of The PayPod, Payments Canada’s CIO is joined by CDIC’s CEO to discuss the role each organization plays in keeping Canadians’ money safe. 

Revisiting a main stage panel discussion from The 2025 SUMMIT, Payments Canada’s Chief Financial Officer Kristina Logue interviews global industry leaders at the forefront of payment transformation as they share the innovations, challenges and milestones of modernizing payment systems at the national level in their respective countries. 

As a follow-up to last year's The SUMMIT main stage panel, Payments Canada's Chief Delivery Officer, Jude Pinto interviews executives from our Real-Time Rail delivery partners, IBM, Interac, CGI and Deloitte on the tremendous progress made on the program since The 2024 SUMMIT, and discusses the upcoming critical milestones that will bring the RTR to go-live. 

Earlier this year, Payments Canada issued a public consultation on policy proposals in relation to membership expansion, with the intention of collecting responses to inform drafting instructions for amendments to Payments Canada by-laws. In this episode of The PayPod, Payments Canada’s Director of Policy discusses why Payments Canada initiated this public consultation, what key themes emerged and how we will incorporate this public feedback into our by-laws. 

From the renewed momentum of the Real-Time Rail payment system, to the Retail Payments Activities Act, to open banking legislation and Canadian Payments Act amendments receiving Royal Assent, 2024 was a year of great change for payments in Canada. How will 2025 further advance modern payments for Canadians? 

Payments Canada released its annual Canadian Payment Methods and Trends report in early October, which analyzes retail payment transactions. In 2023, that number was 21.7 billion. The report compares year-over-year payment method trends and also focuses on how payment innovation has evolved Canadian purchasing behaviours and preferences. Wearables, Generative AI (GenAI) and home device and social platform purchases figured prominently, but with real-time payments coming to Canada, how will the payment landscape adopt, adapt and change? 

The real-time movement of money enabled by the RTR will give Canadians more control over their finances by allowing payments to be cleared and settled in seconds and providing greater confidence that payments have been finalized. In this episode of The PayPod, Payments Canada and the RTR’s strategic partners discuss collaboration, security, resiliency and how the made in Canada RTR system will change payments for all Canadians.

From commercialization opportunities in real-time payments, to harnessing the power of ISO 20022, to the game-changing potential of AI, innovation is everywhere across today’s payment ecosystem, in Canada and around the globe. In this episode of The PayPod, we revisit a main stage discussion from The 2024 SUMMIT, where panelists explored the biggest developments in payments and predicted what we’ll be talking about in 2025.

Payments are becoming increasingly easier, smarter and safer for Canadian businesses and consumers. There are multiple enablers for this change - technology, innovation, consumer demand - but the real reason payments keep getting better and better are the rules and by-laws that form their foundation. How does a payment rule get created? Once it’s created, who governs it and who enforces it? Can a rule be changed? How many payment rules are there? On this episode of The PayPod, find out everything you’ve ever wanted to know and more about payment rules in North America from our guests, Debbie Barr of Nacha and Charlie Clarke of Payments Canada.

The High Value Payment System Plus (HVPS+) group, whose mission is to drive best practices and proper usage of payment messaging standards for interoperability and harmonization across high value payment systems, has developed an ISO 20022 Interoperability Charter, which Payments Canada has declared support for.The charter outlines objectives and principles designed to enable evolution and interoperability of the ISO 20022 standard for high-value payments, to support efficiency, innovation and improved payment experiences for end-users. Elizabeth Leather of the Bank of England and Karl Lee of Payments Canada discuss how the charter was developed, who is using it and what it means for interoperability.

In the 2023 Fall Economic Statement (FES), the federal government committed to amendments of the Canadian Payments Act (CP Act). This is tremendous news for the Canadian payment ecosystem, because we are now on the path to expanded Payments Canada membership and participation in our national payment systems. Expanded access means more opportunities for regulated entities and more choices for Canadians. So now what?

Modern payments is an evolution, it will always continue to progress. Join The PayPod’s guests Tracey Black, President and CEO of Payments Canada and her former colleague and mentor, senior financial services executive John Ambrose as they discuss mentorship, how far we’ve come in the evolution of payments and what still needs to be done to reposition Canada as a leader in the global payments ecosystem.

In this episode, we take you back to the main stage of The 2023 Payments Canada SUMMIT. Industry experts from across the payment ecosystem share insights and perspectives on some of the most important challenges and opportunities facing the payment industry today. Topics discussed include: how broadening access to Canada’s payment systems will benefit businesses, consumers and the economy; why the Canadian Payments Act and the Retail Payments Activities Act are needed to support innovation, modern payment regulation and consumer protection; why there couldn’t “BE” a better time for open banking in Canada; the benefits that faster payment options will bring to Canadian consumers and businesses, and much more. GuestAbraham Tachjian, Open Banking Lead, Department of FinanceGrant Mackenzie, President and CEO of Peoples GroupHanna Zaidi, Chief Compliance Officer, Payments, at WealthSimpleNick Catino, Global Head, Policy & Social Impact, WiseRon Morrow, Executive Director, Supervision, Bank of CanadaTracey Black, President and CEO of Payments CanadaVisit payments.ca to learn more about Payments Canada. 

In December 2022, a diverse coalition of organizations from across the payment industry came together to sign an open letter to the Minister of Finance to make a collective request of the federal government to amend the Canadian Payments Act to broaden Payments Canada’s membership. Broader access to our membership will support the introduction of new participants in Canada's payment system, and provide greater choice for Canadians and Canadian businesses in addressing their payment needs. In this episode of The PayPod, supporters of the letter, Cyrielle Chiron, Senior Vice President, Product Strategy and Innovation at Peoples Group, and Nick Cicchino, Vice President, Shared Services at Meridian, discuss the importance of payments, of broader access to Canada's payment systems and the need for payment legislation that keep pace with innovation in today’s digital world. GUESTSCyrielle Chiron, Senior Vice President, Product Strategy and Innovation, People’s GroupNick Cicchino, Vice President, Shared Services, Meridian Lisa Sattler, Senior Advisor of Public Policy, Payments Canada (guest host)

According to recent research from Payments Canada, there’s an alarming gap in working Canadians' understanding of their paycheque details. In fact, nearly half of respondents say they pay more attention to the weather or their social media channels than their pay information. In this episode of The PayPod, guests discuss the importance of financial literacy in today’s increasingly digital world and the ways in which innovation in payments will offer ease of access to financial information. HOST: Liz Dempsey, Lead, Event Content and Communications, Payments CanadaGUESTS: Dr. Supriya Syal, Deputy Commissioner of Research, Policy and Education, Financial Consumer Agency of CanadaKristina Logue, Chief Financial Officer, Payments Canada

This episode of The PayPod takes us back to the virtual stage at The 2022 SUMMIT. Moderated by host Cyrielle Chiron, this interactive discussion explores the biggest takeaways from speakers at this year's event and their predictions about what payment trends and topics will be discussed next year at The 2023 SUMMIT, taking place in Toronto from May 3-5.GUESTS: Lisa Lansdowne-Higgins, SVP, Business Transformation & Deposits, Royal Bank of CanadaHanna Zaidi, Chief Compliance Officer, WealthsimpleAnna Rossetti, Banking Partner, KyndrylAkshay Rumalla, Head, Consulting & Analytics, Visa Canada

In this episode, host Cyrielle Chiron introduces a pre-recorded webinar from The SUMMIT Series that took place earlier this year. The discussion explores what’s in store for modern payments, including what payment modernization initiatives are coming online in Canada and how they will enable new services that drive value for businesses and consumers.GUESTS:Andrew McFarlane, Chief External Relations Officer, Payments CanadaEdgar Barbosa, Partner and Canadian Payments Leader, PwC CanadaMichelle Beyo, CEO & Founder, FINAVATORRyan Rabin, Vice President, Payments, ATB FinancialRyan Grundy, Lead, Industry Relations, Payments Canada (The SUMMIT Series host)Register for The SUMMIT, Payments Canada's annual conference, at www.thesummit.ca

The pandemic has changed payments forever; 2025 is happening now. As digital payments have become almost universally accepted, the next gold rush is for customer experience: own the experience, own the value. What can the payments industry learn from the birth of the credit card in the 1950s to create the standard for services in today’s space? What role will traditional institutions have in the incredible innovation fueling the payments industry? In this episode of The PayPod, host Cyrielle Chiron is joined by Michael Abbott from Accenture, to catch up on the ideas explored in his keynote at The 2021 SUMMIT – back to the future of payments.GUEST: Michael Abbott, Senior Managing Director, Global Banking Leader at AccentureRegister for The SUMMIT, Payments Canada's annual conference, at www.thesummit.ca

When we hear about real-time payments the first thing we think of is speed. But when it comes to the Real-Time-Rail (RTR), faster payments are only part of the story. In this episode, host Cyrielle Chiron is joined by Janet Lalonde, Senior Director, Real-Time-Rail at Payments Canada to discuss the value of real-time payments and how the RTR is more than a payment system, but a platform for innovation. GUEST: Janet Lalonde, Senior Director, Real-Time-Rail

Jurisdictions around the world are modernizing their high-value payment systems, with ISO 20022 as a key driver. Canada is keeping pace. Lynx, Canada’s new high-value payment system, launched in August 2021. To put this landmark development into a global context, this episode of The PayPod will revisit a discussion from The 2021 SUMMIT that features an overview of the high-value payment system work underway in three different jurisdictions: the U.K., Europe and the U.S.GUESTS: -Jean Clement - Advisor, Payments Systems - European Central Bank - Richard Dzina - SVP - The Clearing House- James Southgate - Senior Manager, RTGS Renewal Programme - Bank of England- Mike Hoganson - Director, Modernization - Payments CanadaRegister for The SUMMIT, Payments Canada's annual conference, at www.thesummit.ca

In this episode, host Cyrielle Chiron introduces a prerecorded webinar from The SUMMIT Series that took place earlier this year. The discussion explores Canada's payments modernization plan and what upcoming changes in payments will mean for individuals, businesses, and the future of payments in Canada - featuring Andrew McFarlane of Payments Canada, Andrew Obee from Ficanex, Derek Vernon from BMO, and Sue Whitney from Central 1.

Evolving technology and payments innovation continues to transform the way Canadian consumers and businesses make payments. In this episode, host Cyrielle Chiron, is joined by Kate Frankish, Director of Strategy at Pay.UK to discuss the trends and topics influencing the payments landscape on a global scale in 2021.

Retailer businesses from hardware stores, to clothing stores to restaurants, could not have anticipated lockdowns, nor the restrictions implemented in phase I and II of re-opening due to COVID-19. While there have been many struggles, some retailers managed to quickly pivot by leaning on e-commerce to help them sustain revenues and jobs. While the virus caused chaos in many industries, it is also driving new technological adoptions and creating new opportunities for growth. Will this mean more support for new methods of payments and changes to Canada’s payments systems? Cyrielle Chiron is joined by XTM Inc. CEO Marilyn Schaffer and Wendy MacKinnon, CEO & Founder of Digital Retail Apps, to discuss how retailers and paytech players are adapting to meet the shift in purchasing habits.

Several central banks around the world, including the Bank of Canada, are exploring central bank digital currency (CBDC). There are many benefits that a CBDC could bring to an economy, however, there are complexities and uncertainties as well. What considerations are being made by central banks AND governments prior to the creation of a digital currency? What are the complexities and risks with introducing a CBDC? The Paypod host Cyrielle Chiron is joined by Rod Garratt, Pellish Chair in Economics, University of California Santa Barbara, and Francisco Rivadeneyra, Director, CBDC & FinTech Policy, Funds Management and Banking, Bank of Canada, to discuss the current thinking around CBDCs.

The PayPod host Cyrielle Chiron is joined by Anne Butler, Chief Legal Officer and Vice President of Policy and Research at Payments Canada and Jason Young, Head of Legal and Company Secretary at PayPay Canada to discuss why Canada needs to expand membership to payments systems and how ongoing efforts to update existing payments legislation for new entrants and Paytechs is more important than ever to stay competitive. The group dives into the status of the Retail Payment Oversight Framework (RPOF) and other ongoing work to advance payments modernization efforts.

Assessing how an organization needs to respond to and prepare for an extraordinary situation takes strong business continuity planning. So how is the payments industry responding to COVID-19 and how does it continue to affect companies relied on by millions of Canadians? Peter Dodic, Chief Risk Officer at Payments Canada, and Sonia Baxendale, President and CEO of the Global Risk Institute in Financial Services, join Paypod host Cyrielle Chiron to discuss the how to prepare for the shifts in prioritization in the workplace as a response to a widespread global event.

As digital payments continue to grow among preferred ways to pay, the need for identification and authentication to ensure safe and secure payments is fundamental. Cyrielle is joined by Joni Brennan, President of the Digital ID & Authentication Council of Canada (DIACC) and Ian Glazer, VP, Identity Product Management, Salesforce and Founder and President of IDPro, to discuss the improvements to digital identification in recent years as well as what additional action needs to be taken to push Canada to the next level, while keeping information secure.

The expectation of speed in the payments industry has seen a significant demand in recent months. Consumers want their money in and out of their accounts the moment they press ‘send.’ Similarly, merchants need to be paid faster, complete payroll and business-related payments and purchases. To boot, every actor in the process wants to reduce the risk of fraud in their payment platforms. The PayPod host Cyrielle Chiron is joined by Brad Pragnell, Principal, 34 South 45 North and "Paymentologist" Lance Homer to analyze how the payments ecosystem in Canada has adapted to increased demand for real-time rail and the role infrastructure innovation will play in taking Canada to the next stage in payment evolution.

The COVID-19 digital environment is demonstrating the extreme importance of protecting payments and securing transactions. From individual to business, Canadians have had to shift their habits from in-person to digital, relying on online shopping, using new video platforms, like Zoom for meetings, and even receiving private advice, from health to finance, digitally. With this, we are seeing a rise in cybercrime as fraudsters are quick to take advantage of this shift -- everything from fake websites to phishing attacks to selling government cheques on the dark web. How do Canadian businesses and individuals stay protected as their whole life moves online? Host Cyrielle Chiron is joined by Alex Frappier, Director of Strategic Partnerships and Training at the CanCyber Foundation and Martin Kyle, Payments Canada’s CISO, to explore current cyberspace issues and the importance of protecting against fraudsters.

Canadians have consistently demanded more digital and modern payments options -- what changed in the last few months in the face of a global pandemic? A lot. Cyrielle Chiron of Payments Canada is joined by Tracey Black, newly appointed CEO of Payments Canada and David Chance of Fiserv and Chair of Payments Canada’s Stakeholder Advisory Council, to discuss the impact COVID-19 is having on payment trends -- where has cash gone? what are consumers doing and why do merchants need to follow the trends…and pronto.

In episodes 9 - 16, The PayPod looks to pick up right where we left off with new topics, new questions, and new voices to debate the answers and discuss the challenges of today. Guiding our journey are the needs of Canadians, including consumers, financial institutions, businesses, start-ups, and governments. Hear Cyrielle Chiron, Head, Research and Strategic Foresight at Payments Canada and host of The PayPod, interview leading experts and respected thought leaders about the changing payments landscape, the needs of Canadians, and how payments Modernization will deliver on them.

The way we pay is changing at an unprecedented rate. But what’s driving this transformation? Payments Canada's annual Consumer Pulse Survey finds younger Canadians aren’t settling for traditional payment methods. Millennials and Gen Z want easier, faster and more convenient options to meet their needs and expectations. Join our host, Justin Ferrabee, COO of Payments Canada, and guests Sue Britton, CEO of Fintech Growth Syndicate; Alvin Chan, Payments Innovation Lead, Digital & Innovation at Ravel by CF; and Rubina Ahmed-Haq, personal finance journalist, as they share their unique perspectives on today's changing consumer payment preferences, and predictions for the future.

The language of payments is standardizing through the gradual adoption of the ISO 20022 payments messaging standard. Jurisdictions around the world are slowly adopting the standard for the many benefits that its rich payments data can provide. But adoption of a global payments standard is a complex challenge: To maximize the benefits and reach the industry's full potential to deliver innovative products and services, full market adoption is required. How can Canada lead the way to a future of dataful payments? Mike Sigal, founder of 20022 Labs, and Andrew Higgins, leader of IBM Payments Centre-Canada, join The PayPod host Justin Ferrabee to discuss how we can drive ISO 20022 adoption in Canada and abroad.Guests:Mike Sigal, Founder, 20022 LabsAndrew Higgins, Leader, IBM Payments Centre-Canada

Canada is at a competitive disadvantage because we do not yet have the frameworks in place to support new payment experiences - some that are commonplace in other parts of the world. PayTechs of Canada is a new association focused on advocating on behalf of the burgeoning Canadian paytech industry. Host Justin Ferrabee is joined by founding members Ben Harrison, Head of Partnerships & Policy, Portag3; Laurence Cooke, Founder & CEO, NanoPay; Shirley Matthew, VP Payment and Card Product, Peoples Group; and Harinder Takhar, CEO, Paytm Labs to explore how paytechs will revolutionize the way consumers and businesses pay in Canada. Guests: Ben Harrison, Head of Partnerships & Policy, Portag3Laurence Cooke, Founder & CEO, NanoPayShirley Matthew, VP Payment and Card Product, Peoples GroupHarinder Takhar, CEO, Paytm Labs

Justin Ferrabee is joined by Malcolm Fowler, chief product and partnership officer of Moneris; Curt Binns, executive director of the Canada region of the ATM Industry Association; and Neville Arjani, director of research at Payments Canada, to discuss the future of cash in Canada. Research has shown continued declines in cash transactions over the past few years and many countries around the globe have even shifted to an entirely digital, cash-free society. Will Canada be next to embrace this change? Listen in on a discussion about whether cash will remain king, digital currencies and the future of polymer paper currency and metal coins in Canada. Guests:Malcolm Fowler, chief product and partnership officer of MonerisCurt Binns, executive director of the Canada region of the ATM Industry AssociationNeville Arjani, director of research at Payments Canada

Justin Ferrabee is joined by a panel of female leaders bringing change to the payments industry. Elena Litani, director of banking and capital markets solutions, nanopay; president and founder of The Fletcher Group, Jennifer Tramontana; and Shemina Jiwani, SVP business development, AscendantFX discuss their role in the modernization of the payments industry. Being modern is about more than technology and infrastructure - it means supporting and embracing a diverse workforce, where female leaders are the norm. Hear from these leaders and listen in on an important discussions about how the payments industry is being shaped by women, the challenges and obstacles women continue to face in the industry, and the possible solutions in achieving balance in the workforce. Guests: Elena Litani, director of banking and capital markets solutions, nanopayJennifer Tramontana, president and founder, The Fletcher GroupShemina Jiwani, SVP business development, AscendantFX

Justin is joined by Shannon Lee Simmons, author, financial planner and founder of The New School of Finance; freelance journalist and author Ceri Marsh; and, David Cravit, vice president, ZoomerLive and ZoomerU to discuss millennial, generation X and baby boomer’s payments needs. Ultimately, Canadians want more choice for payment options that are safe, secure, efficient and reliable. As each of the respective generations go through various life stages, respective needs and wants evolve – in some unexpected ways as well. Host:Justin Ferrabee, COO Payments Canada As Chief Operating Officer, Justin is responsible for the organization’s information technology and corporate functions, including operationalizing Payments Canada’s vision and strategic plan for payments in Canada. Read more about Justin at payments.ca.Guests:Shannon Lee Simmons, author, financial planner and founder The New School of Finance (millennial)Ceri Marsh, freelance journalist and author (generation X)David Cravit, vice president, ZoomerLive and ZoomerU (baby boomer)

Justin is joined by Dan Kelly, President & CEO of the Canadian Federation of Independent Business (CFIB), and Siena Dixon, Head of Marketing and Communications of Ollie Quinn, to discuss small and medium-sized businesses’ payments needs. The payments landscape continues to evolve, making it more important than ever for businesses to keep pace. However, a recent Leger survey conducted by Payments Canada noted that Canadian businesses still use credit cards, cash and cheques as top payment methods. The trio discusses how we must continue to modernize the ecosystem to help Canadian businesses grow, keep customers, clients and stakeholders happy as well as keep pace with other countries that have already made friction-free payment options a top priority.Host:Justin Ferrabee, COO Payments Canada As Chief Operating Officer, Justin is responsible for the organization’s information technology and corporate functions, including operationalizing Payments Canada’s vision and strategic plan for payments in Canada. Read more about Justin at payments.ca.Guests:Dan Kelly, President & CEO, Canadian Federation of Independent Business (CFIB)Siena Dixon, Head of Marketing and Communications, Ollie Quinn

Welcome to The PayPod podcast, a multi-episode series of everything to do with Canada’s ambitious payments modernization mission. In this inaugural episode, Justin Ferrabee and Jan Pilbauer of Payments Canada are joined by Lauren Fleming, a financial services advisor from Ernst & Young who recently completed a study for Payments Canada that, among other insights, quantified that the manual matching of payments to invoices cost businesses billions of dollars a year. Lauren explains how, according to the study, a good portion of between $3 and $6 billion dollars annually, currently invested in reconciling account receivables and payables, could be eliminated, ushering in a new wave of service and product innovation among fintech and paytech companies.