Payments Canada appoints new VP of payment products

Ellie Duncan
26 Mar 2024

Payments Canada has appointed Mark Kozicki from Citibank Canada as its new vice president, payment products.

In his new role, Kozicki will develop, lead and manage “critical” initiatives, both within Payments Canada and in the wider ecosystem.

He will be responsible for advancing the strategic planning and execution of the organisation’s new service offerings on existing systems and for emerging product and service opportunities, at the same time as managing critical stakeholder relationships.

Kozicki joins Payments Canada from Citibank Canada, where he served as vice president, North American payment products within the bank’s treasury and trade solutions organisation, developing strategies and leading teams to progress the product lifecycle for individual payable and receivable products.

During his career, Kozicki has held leadership positions related to payment products at Mastercard Canada, Scotiabank, Royal Bank Financial Group and IBM.

His experience spans product development, marketing, project management and technical innovation.

Payments Canada’s president and chief executive officer Tracey Black is due to step down on March 31, having decided not to renew her term.

While the board of directors undertakes a search for her successor, chief financial officer Kristina Logue and chief delivery officer Jude Pinto will take over as interim chief executive officers from April 1.

Membership to Payments Canada is due to be expanded later this year, following the Department of Finance’s Fall Economic Statement which was delivered in November 2023.

The Canadian Payments Act will be amended to expand membership eligibility in Payments Canada to payment service providers supervised by the Bank of Canada, as well as to credit union locals that are members of a credit union central, and operators of designated clearing houses.