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CPA to Facilitate Internet Payments in Canada

The Ottawa, Ontario-based Canadian Payments Association (CPA) Thursday announced its intention of becoming a root Certification Authority (CA) for payments over the Internet in Canada.

The CPA says that, as part of its mandate to plan the evolution of the national payments system, it is taking a leadership role to ensure that Canadians can have confidence in the payments they make over the Internet.

The association will be seeking suitable companies to establish and oversee a public key infrastructure ventures intended to give consumers and businesses the ability to make secure payments over the Internet.

In assuming this role, the CPA would certify qualifying institutions which would then certify their customers (both corporate and individual) to perform transactions on the Internet.

The CPA says it is well positioned to act as such a "trusted third party" because of its history in ensuring that Canada's payments system is safe, secure, and efficient. As a root CA, the CPA would be positioned to act as a cross-certification authority for international transactions, thereby promoting Canadian competitiveness and interests globally.

Founded in 1980 by an Act of Parliament, CPA is a nonprofit association whose current membership comprises virtually all of Canada's bank and non-bank deposit-taking financial institutions.