This appears to be a statement of intent to harmonize some yet non-existing system.

It's good and I'm happy about it, but doesn't really mean much.

It seems plausible Canada could join the existing unification effort of the European Payment Network[0] which plans to merge Bancomat, Wero, Vipps, Bizum etc but that system does not even cover the totality of the EU yet.

Maybe Canada just joins SEPA [1]?

0: https://www.reuters.com/business/finance/european-payments-g...

1: https://en.wikipedia.org/wiki/Single_Euro_Payments_Area