Varya Taylor

Principal Analyst

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Varya Taylor

Principal Analyst
Financial Stability
Payment Systems Oversight

Bank of Canada
234 Wellington Street
Ottawa, ON, K1A 0G9

Latest

Examining Full Collateral Coverage in Canada’s Large Value Transfer System

Staff Working Paper 2015-29 Lana Embree, Varya Taylor
The Large Value Transfer System (LVTS) is Canada’s main electronic interbank funds transfer system that financial institutions use daily to transmit thousands of payments worth several billions of dollars.

Removal of the Unwinding Provisions in the Automated Clearing Settlement System: A Risk Assessment

Staff Discussion Paper 2014-4 Nicholas Labelle, Varya Taylor
A default in the Automated Clearing Settlement System (ACSS) occurs when a Direct Clearer is unable to settle its final obligation.

The Role of Convenience and Risk in Consumers' Means of Payment

Staff Discussion Paper 2009-8 Carlos Arango, Varya Taylor
Using data from a 2004 survey of the Canadian public, the authors study the role of convenience and risk in consumers' use of cash relative to debit and credit cards. The authors find that consumers who perceive debit cards and credit cards to be more convenient and less risky than cash use them more frequently.
Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Bank notes JEL Code(s): E, E4, E41, L, L2
November 11, 2008

Merchants' Costs of Accepting Means of Payment: Is Cash the Least Costly?

In a competitive sales environment, merchants are compelled to offer consumers the option of paying for goods and services using a variety of payment methods, including cash, debit card, or credit card. Each method entails different costs and benefits to merchants. To better understand the costs of accepting retail payments, the Bank of Canada surveyed over 500 Canadian merchants and found that most consider cash the least costly. This article investigated this perception by calculating the variable costs per transaction of accepting different means of payment. The findings are that costs for each payment method vary by merchant and transaction value, with debit cards the least costly payment for a broad cross-section of merchants.

Merchant Acceptance, Costs, and Perceptions of Retail Payments: A Canadian Survey

Staff Discussion Paper 2008-12 Carlos Arango, Varya Taylor
Using the results of a survey on accepted means of payment, the authors examine merchant preferences and perceptions of retail payment reliability, risk, and costs; the share of each type of payment method over total sales; and the costs involved in accepting payments.
Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Bank notes JEL Code(s): E, E4, E41, L, L2

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