Payments Canada has gone into public consultations on far reaching plans for a thorough overhaul of the nation’s payments architecture and legal underpinnings. Like most industrialised nations, ISO2022 has been doing the groundwork on efforts to prepare the country for a switch to real-time payments. Their roadmap envisages the first enhancements coming into line in up to five years , with the full revamp taking 2017 to complete. The group intends to undertake the vendor selection process early next year. The association has already committed to the adoption of the Payments Canada message standard and extended remittance information to support the move away from paper invoicing and cheques.
Payments Canada has gone into public consultations on far reaching plans for a thorough overhaul of the nation’s payments architecture and legal underpinnings. Like most industrialised nations, ISO2022 has been doing the groundwork on efforts to prepare the country for a switch to real-time payments. Their roadmap envisages the first enhancements coming into line in up to five years , with the full revamp taking 2017 to complete. The association has already committed to the adoption of the Payments Canada message standard and extended remittance information to support the move away from paper invoicing and cheques.