Interac, Mastercard and Visa Designated

Summary#

This Canada Gazette notice announces that three major payment networks — Interac Corp. (Inter Member Network / IMN), Mastercard International Inc. (Global Clearing Management System and Single Message System), and Visa Inc. (VisaNet) — were designated as systems subject to Part I of the Payment Clearing and Settlement Act, effective October 16, 2023. It also records that the Hamilton‑Oshawa Port Authority had its letters patent amended to add federal properties in Port Colborne and Thorold, effective October 3, 2023, and that the Privy Council Office is inviting applications for many federal board and agency appointments.

What it does#

• Designates three retail payment systems as subject to Part I of the Payment Clearing and Settlement Act:

  • Interac Corp. — Inter Member Network (IMN).
  • Mastercard International Inc. — Global Clearing Management System and Single Message System.
  • Visa Inc. — VisaNet.
  • Reason given: each system handles a high volume and value of daily transactions and is central to Canadian retail payments, so a serious disruption could pose a payments system risk. Designations take effect October 16, 2023.

• Amends the letters patent for the Hamilton‑Oshawa Port Authority under the Canada Marine Act by adding federal real property to Schedule B. The properties added are identified by PINs 64457-0128 (LT) and 64051-0135 (LT). The amendment took effect October 3, 2023.

• The Privy Council Office published a call for applications for many Governor‑in‑Council appointments across federal boards and agencies. The notice stresses diversity and workplace standards and notes each opportunity is open for at least two weeks from posting.

Who's affected#

• Customers, merchants, banks, and businesses that use or rely on card and debit networks — especially users of Interac, Mastercard, and Visa services. Payment processors and financial institutions that connect to these systems are directly involved.
• The operators of those systems (Interac Corp., Mastercard International Inc., Visa Inc.) — because the designation subjects their systems to the Act’s Part I framework.
• Local communities, businesses, and port users in Port Colborne and Thorold where the federal properties were added to the Hamilton‑Oshawa Port Authority’s remit.
• Canadians interested in serving on federal boards and agencies — the Privy Council Office listing is a public recruitment notice.

Why it matters#

• Designating the big payment networks signals more formal oversight of systems that handle millions of transactions. That aims to reduce the chance of large‑scale outages or loss of confidence that could disrupt everyday payments.
• Changes to the port authority’s letters patent shift management of certain federal lands to the Hamilton‑Oshawa Port Authority, which can affect who runs and maintains those lands and how local marine services are managed.
• The appointment call is a routine but important step for staffing federal boards and agencies. It’s a chance for Canadians to apply for public leadership roles and for the government to seek more diverse representation.