PaymentsNews

On The Web

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Global

Canada sets up Committee on Open Banking

“The Canadian Government has established an Advisory Committee on Open Banking to explore the potential and pitfalls of a regime which would give consumers the ability to share their financial data with third parties. Announced as part of the federal budget in 2018, the four-person Committee will be tasked with dissecting the results of a […]
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Deals

Zafin Raises $17.2M in Series B Funding

“Established in 2002 by Al Karim Somji, CEO, Zafin designs customer centric financial services software used by many of the world’s largest financial institutions to power pricing, product and customer strategies. Its solutions enable banks to increase revenue generation, drive customer transparency and aid in regulatory compliance, ultimately enhancing their agility and their ability to […]
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Global

Meridian Set to Launch Its New Digital Bank Called Modusbank

“Meridian has been given the green-light by the Office of the Superintendent of Financial Institutions to move ahead with its new digital bank, Motusbank. The digital bank, set to open this spring, and will allow Canadians to access their bank accounts, investments, and mortgages online, while offering digital customer service from real people. Through Meridian, members […]
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Domains

Modernize your payments: More efficient means lower operations costs

“A Payments Canada study, in partnership with Ernst & Young LLP (EY Canada), quantified the current cost of payments processing for Canadian business to be between $3 billion and $6.5 billion annually. The research looked at current payment processes and identified inefficiencies, such as the manual handling of accounts receivables and payables among all sizes […]

On The Wires

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Companies

Adyen Expands Its Unified Commerce Offering To Canada

“Adyen (AMS: ADYEN), the payments platform of choice for many of the world’s leading companies, today announced its platform expansion into Canada. The company also announced four new customers that have selected Adyen as their payments processor in Canada, including: Dollar Shave Club, Adidas, Busbud and Canada Goose.”
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Global

Canadian demands for speed and convenience influencing payments innovation

“The 2017 data show that Canadian consumers are opting for faster and more convenient methods of payment, such as tapping a card or phone at point-of-sale, sending funds electronically through INTERAC e-Transfers, making more purchases online and in-app and leaving traditional forms of payment, like cash and cheque, by the wayside. Businesses too are adopting digital […]