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Canadian Payments Association
Canadian Payments Association, carrying on business under the brand name Payments Canada, is an organization that operates a payment clearing and settlement system in Canada. The Canadian Payments Association was established by the ''Canadian Payments Act'' in 1980. Among other responsibilities, it regulates and maintains directories of bank routing numbers in Canada. In 2016, Payments Canada's systems cleared and settled 7.4 billion payments totaling over $50.8 trillion—or, $201.5 billion on average each business day. Services Payments Canada is a corporation that: * operates and maintains Canadian national systems for the clearing and settlement of payments and other arrangements for the making or exchange of payments; * facilitates the interaction of Payments Canada's systems with others involved in the exchange, clearing and settlement of payments; and * facilitates the development of new payment methods and technologies. Systems Clearing and settlement systems are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chrystia Freeland
Christina Alexandra Freeland (born August 2, 1968) is a Canadian politician serving as the tenth and current deputy prime minister of Canada since 2019 and the Minister of Finance (Canada), minister of finance since 2020. A member of the Liberal Party of Canada, Liberal Party, Freeland represents the Toronto riding of University—Rosedale in the House of Commons of Canada, House of Commons. She was first appointed to Cabinet of Canada, Cabinet following the 2015 Canadian federal election, 2015 federal election and is the first woman to hold the finance portfolio. Born in Peace River, Alberta, Freeland completed a bachelor's degree at Harvard University, studying Russian history and literature before earning a master's degree in Slavic studies, Slavonic studies from University of Oxford, Oxford University. She began her career in journalism working in editorial positions at the ''Financial Times'', ''The Globe and Mail'' and Reuters, becoming managing director of the latter. F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cheque
A cheque, or check (American English; see spelling differences) is a document that orders a bank (or credit union) to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing the cheque, known as the ''drawer'', has a transaction banking account (often called a current, cheque, chequing, checking, or share draft account) where the money is held. The drawer writes various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the ''drawee'', to pay the amount of money stated to the payee. Although forms of cheques have been in use since ancient times and at least since the 9th century, they became a highly popular non-cash method for making payments during the 20th century and usage of cheques peaked. By the second half of the 20th century, as cheque processing became automated, billions of cheques were issued annually; these volumes peaked ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Caisses Populaires
A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including deposit accounts, provision of credit, and other financial services. In several African countries, credit unions are commonly referred to as SACCOs (Savings and Credit Co-Operative Societies). Worldwide, credit union systems vary significantly in their total assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with hundreds of thousands of members and assets worth billions of US dollars. In 2018, the number of members in credit unions worldwide was 274 million, with nearly 40 million members having been added since 2016. Leading up to the financial crisis of 2007–2008, commercial banks engaged in approximately five times more subprime lending relative to credit unions and were two and a half ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Union Central Of Canada
The Canadian Credit Union Association (CCUA; french: Association canadienne des coopératives financières) is the national trade association for credit unions in Canada (outside the province of Quebec). Founded in 1953, it rebranded to its current name in January 2016 to reflect its "evolving role as an association that is focused on growing a stronger... credit union industry." CCUA was founded as the Canadian Co-operative Credit Society (CCCS) to support a growing credit union system in the 1950s. It was renamed to Credit Union Central of Canada in 1993 to better reflect its relationship to its provincial member credit union centrals. History The history of Credit Union Central of Canada traces the development of two different but related types of organizations: a national trade association to be a convening body and voice for the system, and a national finance facility to provide liquidity to support the credit union system. For most of the first half of the 1900s, the cred ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trust Company
A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trustee of various kinds of trusts. The "trust" name refers to the ability to act as a trustee – someone who administers financial assets on behalf of another. The assets are typically held in the form of a trust, a legal instrument that spells out who the beneficiaries are and what the money can be spent for. A trustee will manage investments, keep records, manage assets, prepare court accounting, pay bills (depending on the nature of the trust), medical expenses, charitable gifts, inheritances or other distributions of income and principal. Estate administration A trust company can be named as an executor or personal representative in a last will and testament. The responsibilities of an executor in settling the estate of a deceased perso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chartered Company
A chartered company is an association with investors or shareholders that is incorporated and granted rights (often exclusive rights) by royal charter (or similar instrument of government) for the purpose of trade, exploration, and/or colonization. Notable chartered companies (with years of formation) Austrian British The article ''Chartered Companies'' in the ''Encyclopædia Britannica'' Eleventh Edition, by William Bartleet Duffield, contains a detailed narrative description of the development of some of the companies in England and, later, Britain. Dutch English French German Polish-Lithuanian Portuguese Russian *1799–1867 Russian-American Company Scandinavian Scottish Spanish Italian From 3 August 1889 to 15 May 1893 Filonardi was the first Governor of Italian Somaliland and was in charge of an Italian company responsible for the administration of the Benadir territory, called Societa' Filonardi. *1889 – 1893 Filonardi Company Zionis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Toronto
Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the anchor of the Golden Horseshoe, an urban agglomeration of 9,765,188 people (as of 2021) surrounding the western end of Lake Ontario, while the Greater Toronto Area proper had a 2021 population of 6,712,341. Toronto is an international centre of business, finance, arts, sports and culture, and is recognized as one of the most multicultural and cosmopolitan cities in the world. Indigenous peoples have travelled through and inhabited the Toronto area, located on a broad sloping plateau interspersed with rivers, deep ravines, and urban forest, for more than 10,000 years. After the broadly disputed Toronto Purchase, when the Mississauga surrendered the area to the British Crown, the British established the town of York in 1793 and later designat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ottawa
Ottawa (, ; Canadian French: ) is the capital city of Canada. It is located at the confluence of the Ottawa River and the Rideau River in the southern portion of the province of Ontario. Ottawa borders Gatineau, Quebec, and forms the core of the Ottawa–Gatineau census metropolitan area (CMA) and the National Capital Region (NCR). Ottawa had a city population of 1,017,449 and a metropolitan population of 1,488,307, making it the fourth-largest city and fourth-largest metropolitan area in Canada. Ottawa is the political centre of Canada and headquarters to the federal government. The city houses numerous foreign embassies, key buildings, organizations, and institutions of Canada's government, including the Parliament of Canada, the Supreme Court, the residence of Canada's viceroy, and Office of the Prime Minister. Founded in 1826 as Bytown, and incorporated as Ottawa in 1855, its original boundaries were expanded through numerous annexations and were ultimately ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Dollars
The United States dollar (Currency symbol, symbol: Dollar sign, $; ISO 4217, code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from Dollar, other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and International use of the U.S. dollar, several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish dollar, Spanish silver dollar, divided it into 100 cent (currency), cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallism, bimetallic standard of (0.7735 troy ounces) fine silver or, from 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pre-Authorized Debit
A direct debit or direct withdrawal is a financial transaction in which one organisation withdraws funds from a payer's bank account., https://www.directdebit.co.uk/direct-debit-explained/what-is-direct-debit/ Formally, the organisation that calls for the funds ("the payee") instructs their bank to collect (i.e., debit) an amount directly from another's ("the payer's") bank account designated by the payer and pay those funds into a bank account designated by the payee. Before the payer's banker will allow the transaction to take place, the payer must have advised the bank that they have authorized the payee to directly draw the funds. It is also called pre-authorized debit (PAD) or pre-authorized payment (PAP). After the authorities are set up, the direct debit transactions are usually processed electronically. Direct debits are typically used for recurring payments, such as credit card and utility bills, where the payment amounts vary from one payment to another. However, when the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Online Payments
An e-commerce payment system (or an electronic payment system) facilitates the acceptance of electronic payment for offline transfer, also known as a subcomponent of electronic data interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking. Credit cards remain the most common forms of payment for e-commerce transactions. As of 2008, in North America, almost 90% of online retail transactions were made with this payment type.Turban, E. King, D. McKay, J. Marshall, P. Lee, J & Vielhand, D. (2008). Electronic Commerce 2008: A Managerial Perspective. London: Pearson Education Ltd. p.550 It is difficult for an online retailer to operate without supporting credit and debit cards due to their widespread use. Online merchants must comply with stringent rules stipulated by the credit and debit card issuers (e.g. Visa and Mastercard) in accordance with a bank and financial regulation in the countries ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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