ETA Annual Policy Day — Toronto: Five Takeaways
11-12-2020
On Thursday, November 5th, ETA hosted ETA Annual Policy Day — Toronto. This event brought together ETA members with government regulators and executives from all aspects of the payments industry to discuss regulatory changes and the outlook for payments in Canada. Topics discussed include the role of FinTech in Canadian payments; Finance Canada’s retail payments oversight framework; privacy; and how retail payments have changed in light of COVID-19.
If you were unable to attend, here are five takeaways from the event:
1. Canadian policymakers are working on changes to privacy laws, especially in the provinces.
2. Policymakers are moving forward with their efforts around data aggregation, or consumer-directed banking.
3. Payments Canada is moving forward with its Real-Time Rail (RTR).
4. FinTech solutions are a major part to increasing the speed and convenience for payments, especially for the underserved.
5. COVID has accelerate trends in the payments space like contactless and P2P.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.