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Inside Internal Controls

News and discussion on implementing risk management

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payment systems

“Not there yet”: Bank of Canada experiments with blockchain wholesale payment system

The Bank of Canada embarked on Project Jasper to learn more about the feasibility, benefits and challenges of using DLT as the basis for a wholesale interbank payment system. These systems are crucial mechanisms for the financial industry that allow large financial institutions to process payments to each other as well as to and from central banks.

 

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Harper Government announces code of conduct expansion to mobile payments

As mobile payments continue to take the economic world by storm, so too do the rules and regulations for such payments in Canada. In September, Ted Menzies, Minister of State, announced that the Code of Conduct for the Credit and Debit Card Industry in Canada will be expanded to include mobile payments. He also released a proposed Addendum to the Code for public consultation at this time.

 

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