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Budget 2021: modernizes payments regulation, silent on payment system access

Posted in: News

Paytechs of Canada encouraged the federal government to table retail payments oversight legislation and make amendments to the Canadian Payments Act. By a strict reading of the federal budget, payment technology companies are getting more of the former and not the latter.

Open banking and payments modernization: running away from opportunity

Posted in: Articles

When it comes to open banking, Canada is putting off third-party payment initiation at its own peril. The federal government and its advisory committee have noted time and time again that the scope of their open banking review is limited to data mobility, making third-party payment initiation nothing more than a future possibility.

Want to promote responsible innovation? Start by promoting better questions

Posted in: Articles

Remember when Paul Krugman wrote about the effect the Internet would have on the economy? “By 2005, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s,” he said in Time magazine in the late 1990s.

Paytechs of Canada encourage Minister of Finance to proceed with retail payments oversight and broader access to payment systems

Posted in: News

The Paytechs of Canada submitted a letter to the Minister of Finance, urging the federal government to proceed with retail payments oversight legislation and amendments to the Canadian Payments Act that would broaden access to national payment systems.

What pirates and privateers can tell us about payments

Posted in: Articles

Transaction costs are to economics what friction is to physics. They’re a drag on people buying and selling, like friction is on things moving through space and time. High transaction costs are usually bad because they lock up economic value that would have otherwise been generated for buyers and sellers.

Public policy debate is a chorus that never ends

Posted in: Articles

The late Christopher Booker wrote The Seven Basic Plots, where he argued that there are really only seven different types of story, each reducible to a single word or phrase. One could write a similar book about public policy debate.