Payments Canada is a public purpose organization that owns and operates Canada’s payment systems. It also has a duty to promote the efficiency, safety, and soundness of Canada’s payment systems while taking into account the interests of end users. In 2022, Payments Canada’s systems cleared and settled over $119 trillion — more than $476 billion every business day. Transactions that pass through these systems include debit card payments, pre-authorized debits, direct deposits, bill payments, wire payments and cheques initiated and received by Canadians and Canadian businesses. Payments Canada is working closely with the payment ecosystem to modernize Canada’s payment systems to ensure Canada and Canadian businesses remain globally competitive.