More consumer protection needed in emerging payments space, says head of bankers group

TORONTO -

More consumer protection is needed as new entrants in the fast-growing payments space get ahead of regulation, the head of the Canadian Bankers Association said.

Speaking at a Canadian Club Toronto event Thursday, association president Anthony Ostler said there are now more than 2,000 non-bank payment services providers with more expected amid initiatives like the push for open banking.

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