Discussion Papers

Provision of original, high-quality and relevant research is critical to fulfilling our role as a thought leader in the area of payments. Explore our discussion papers for in-depth, technical research and analysis on topics of relevance to the Canadian and international payments ecosystems.

September 17, 2018
Payments Canada has released a new discussion paper that studies modeling and measurement of tail risk in a deferred net settlement system environment such as the ACSS. Underpinning this paper is a challenging real-world problem faced by Payments... Read more about Tail Risk in the Automated Clearing Settlement System (ACSS)
September 1, 2016
Payments Canada has released a new discussion paper that promotes conversation about credit risk in the Automated Clearing Settlement System (ACSS), which isn’t widely understood. A Primer on Credit Risk in Payments Canada's Automated Clearing... Read more about A Primer on Credit Risk in Payments Canada's Automated Clearing Settlement System (ACSS)
June 16, 2016
Research by Payments Canada and the Bank of Canada explores payment system modernization initiatives around the world and reveals a global trend towards infrastructure enhancements that support faster payments. Clearing and Settlement Systems from... Read more about Clearing and Settlement Systems from Around the World: A Qualitative Analysis
November 17, 2015
Given that implementation of the ISO 20022 standard will require investment from financial institutions and businesses, it is critical to understand clearly the prospective benefits that the standard will bring to Canadians and present these... Read more about The Economic Benefit of Adopting the ISO 20022 Payment Message Standard in Canada
September 17, 2015
The payments landscape in Canada is rapidly changing and will continue to evolve, fuelled by strong and persistent drivers. In Canada, the Canadian Payments Association (CPA) is on a path to modernize Canada’s core payment systems. This paper... Read more about Public Policy Objectives and the Next Generation of CPA Systems: An Analytical Framework
July 15, 2015
This paper investigates the impact that the emergence of Automated Funds Transfer (AFT) payments has had on cheque use in Canada. We find that AFT payments have played a role in the declining use of cheques during the past decade. Nevertheless the... Read more about The Role of Automated Funds Transfer Payments in Canada's Decline Use of Cheques