Payments Canada

Payments Canada
Canadian Payments Association
Agency overview
Formed1980; 44 years ago (1980)
Minister responsible
Agency executives
  • Garry Foster, Board chair
  • Tracey Black, President & CEO[1]
Parent departmentsDepartment of Finance
Bank of Canada
Key documents
Websitehttps://payments.ca

Canadian Payments Association, carrying on business under the brand name Payments Canada,[2][3] is an organization that operates a payment clearing and settlement system in Canada. The Canadian Payments Association was established by the Canadian Payments Act in 1980. Among other responsibilities, it regulates and maintains directories of bank routing numbers in Canada.[4]

In 2016, Payments Canada's systems cleared and settled 7.4 billion payments totaling over $50.8 trillion—or, $201.5 billion on average each business day.[5]

  1. ^ "Leadership Team". 2 August 2016.
  2. ^ Finextra (15 June 2016). "Canadian Payments Association rebrands as Payments Canada".
  3. ^ "Canadian Payments Act". May 6, 2021. section 3(1).
  4. ^ "Financial Institutions File and routing numbers". FAQs. Canadian Payments Association. Archived from the original on March 30, 2015. Retrieved January 21, 2018.
  5. ^ "Annual Report 2016" (PDF). Payments Canada. Retrieved 2 June 2017.