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On Dialogue: Our Discussion Documents

 

Going Digital: Transitioning to Digital Payments

In response to the critical momentum gained through the Scenarios Roundtable, the Task Force struck a series of working and advisory groups, drawing on the strengths of over 250 professionals to work together on options and solutions to some of the most difficult challenges facing the industry.

Going Digital emerged as a report on the findings of three of these working groups: 1) Electronic Invoicing and Payments (EIP), to help move businesses and governments away from paper-based payments; 2) Mobile payments, to help Canadian consumers engage through wireless devices, and; 3) Digital identification and authentication, and a new way of identifying and authenticating people online.

Going Digital is the first step toward the goal of a digital payments future, and offers our views on how best to advance the transition. It assesses the risks and benefits of going digital and proposes roles for governments, industry and Canadians alike.

While the ideas in Going Digital are critical, they are inextricably linked to the broad policy dimensions of the payments system – governance, legislation, competition, innovation, infrastructure and the needs of users. These issues take centre stage in our final report and policy papers, to be presented separately to the Minister of Finance. The final report is our response to the task handed to us. Going Digital, by contrast, is the challenge we ourselves are issuing.