Zhentong Lu is a Senior Economist in the Payment System Oversight Division of the Financial Stability Department (FSD). Before joining the Bank, he was an Assistant Professor in the Shanghai University of Finance and Economics. His main research areas are empirical industrial organization, applied econometrics and payment economics.
Staff working papers
Developments are underway to replace Canada’s two core payment systems with three new systems. We use a discrete choice model to predict migration patterns of end-users and financial institutions for future systems and discuss their policy implications.
Consumers, businesses and banks make millions of payments each day using a variety of instruments, such as debit cards, cheques and wires. Canada is currently developing three new systems to process these transactions: Lynx, Settlement Optimization Engine (SOE) and Real-Time Rail (RTR).