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Todd Zywicki to Speak on Canadian Payment Systems PDF Print E-mail

Tomorrow, Todd Zywicki, Academic Affiliate at the International Center for Law and Economics and a Foundation Professor of Law at George Mason University School of Law, will speak on payment systems with particular concern to the Canadian context at a conference sponsored by the C.D. Howe Institute in Toronto. The conference is titled “The Canadian Payments System: Ensuring Competition, Innovation and Stability” and will feature Patricia Meredith, the Chair of the Task Force for the Payments System Review in Canada, and Steve Rauschenberger, President of Rauschenberger Partners LLC, among others.

As the organizers notes, “Getting [payment systems] right will be integral to building a competitive, functioning and efficient payment system, with important consequences for industry and the Canadian economy as a whole.”

This conference comes on the heels of a recently released paper on the subject and is a continuation of the research he has been conducting for the International Center for Law and Economics’ Financial Regulatory Program White Paper Series, including his previous paper “The Economics of Payment Card Interchange Fees and the Limits of Regulation

 
The Way We Should Pay: Comments on “The Way We Pay: Transforming the Canadian Payments System” PDF Print E-mail

We are pleased to announce the release of the second paper in the ICLE Financial Regulatory White Paper Series.  “The Way We Should Pay: Comments on The Way We Pay:Transforming the Canadian Payments System” was authored by Todd J. Zywicki, Academic Affiliate at the International Center for Law and Economics and Foundation Professor of Law at George Mason University School of Law, and Philippe Bergevin, a Policy Analyst at the C.D. Howe Institute.

As outlined in the Task Force for the Payment System Review report, Canada’s payments system is falling behind. The thirty-year-old Interac system has facilitated widespread adoption of debit cards in Canada, but it is proving increasingly antiquated to the needs of a modern global economy. This paper explores the current state of the payment system in Canada within a global context and discusses the strong economic principles that should guide the work of the Task Force. Building on a robust framework of innovation and competition, it aims to positively orient the Task Force’s future decisions, while continually reaffirming the negative impact that can result from misaligned institutional incentives.

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