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Canadian Payments Association in Active Trader Links Directory

Canada’s clearing and settlement system is among the most efficient in the world, enabling consumers and businesses to make and receive payments throughout the country quickly and reliably. The vast majority of payments involve moving funds between accounts at different financial institutions. The Canadian Payments Association (CPA) operates national clearing and settlement systems that facilitate this flow of funds between institutions and mitigate risk to payment system participants. On average, some 21.4 million payment items, representing $185 billion in transactions, were cleared and settled through the CPA’s systems each business day during 2006. These include cheques, wire transfers, direct deposits, pre-authorized debits, bill payments and point-of-sale debits. Note that transactions charged to credit cards are not cleared through CPA systems, and thus CPA Rules do not apply to them.

Address: 180 Elgin Street, 12th Floor, Ottawa, Ontario K2P 2K3
Telephone: 613-238-4173
Fax: 613-233-3385
Website: http://www.cdnpay.ca/