Changing the way we pay: getting the transition right for SMEs

How Canadians make and accept payments for goods and services will change dramatically in the near future. Many countries are shifting away from more traditional payment types, such as cheques and cash, towards more electronic payments.

Canada is preparing to follow suit. Transitioning towards a greater use of electronic payments will deeply affect how business is conducted, especially within the SME sector. In order to get the transition right for SMEs, it will be critical to ensure that any new payments system is low cost, secure, accessible and user-friendly.