S02:E07: Modernizing Payments Infrastructure with Ron Morrow, Executive Director at the Bank of Canada
Ron Morrow | Executive Director at the Bank of Canada | Modernizing Payments Infrastructure
“You want a system that is stable and reliable, but not one that is so stable and reliable that it stifles innovation and competition. So it's a challenge to find [the] trade off.
I think a lot of what is going on in the world of payments right now is trying to ensure that we are striking that right balance.”
— Ron Morrow
In this episode, we speak with Ron Morrow, the Executive Director of Payments, Supervision, and Oversight at the Bank of Canada. The Bank of Canada’s mandate is “to promote the economic and financial welfare of Canada.” In his role, Ron is responsible for the supervision of retail payment service providers and the oversight of financial market infrastructures. He also guides the Bank’s work to explore the potential design of a digital form of the Canadian dollar.
We cover everything from the modernization of money movement to the productivity crisis in Canada, and get an understanding of the new payment provider supervision under the new Retail Payment Activities Act which will come into effect in November 2024.
Enjoy!
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