ETA 2021 Canadian Policy Priorities

Since 2018, ETA has provided our members a voice in Canada to advocate for policies that advance payments innovation to enable safe and secure commerce. Our efforts in 2021 will focus on the following policies to foster a modern payments systems:

Privacy
Protecting consumer privacy is a crucial element of maintaining trust in the payments industry. ETA supports privacy laws that are principles-based and harmonized to ensure predictability and consistency for consumers.

• Support a uniform national privacy law and ensure the recognition of fraud-prevention efforts.

The Future of Payments
The payments industry is vibrant, innovative, and continuously evolving. ETA members are constantly developing and deploying new products and services to make it easier for consumers to make purchases and move money. Regulations must, too, evolve and encourage this innovation. ETA supports:

• Tabling the Retail Payments Oversight Framework Legislation to support a modern digital payment ecosystem;
• Resuming conversations on Consumer Directed Banking (Open Banking) effort;
• Removing uncertainty when making a debit card payment with a mobile device; and
• Encouraging the Federal Government’s utilization of prepaid cards to distribute, benefits and other payments to both citizens and businesses.

Diversity, Equity and Inclusion
ETA believes in a society that is equitable and inclusive. We know that to create the best payments industry – both as employers and participants – we must leverage the benefits of diverse skills and perspectives.

• Support policies that encourage and achieve diversity, equity, and inclusion.

Smart Security
Protecting the payments industry and the customers who use it from fraud is paramount. ETA members work tirelessly to identify and defeat fraud to ensure a robust payments system and garner continued confidence by customers and merchants.

• Oppose efforts to codify technology-specific standards.
• Encourage innovation for new technologies to be used in reducing fraud.
• Support usage of individual digital identities.

Other Issues
Efforts to help small businesses prepare to identify and repel cyberattacks. ETA supports:

• Support for the continued use of artificial intelligence and machine learning.

Artificial Intelligence/Machine Learning
FinTech has developed advanced tools to combat fraud, improve access to credit, and reduce operational costs, all of which help consumers and small businesses.

• Support for the continued use of Artificial Intelligence and Machine Learning.

Modern Trade Agreements
The global economy demands open and fair trade to allow payments, products, and information to cross borders.

• Support trade agreements that foster information/data flow and prohibit data localization requirements.
• Support the implementation of the CUSMA and its effects on cross-border data.