On The Web
nbsp;
“E-commerce giant Amazon has filed a trademark application for its Amazon Pay online payments processing service in Canada. The application was submitted on November 16, 2018 and formalized on November 21st, 2018. The filing suggests that Amazon plans to bring the platform to Canada in the near future.”
Bank of Canada studying issues around a central bank digital currency
“The Bank of Canada is looking at the key questions around the design of a digital currency and the issues surrounding such an idea, a senior Bank of Canada official said Monday. However, deputy governor Timothy Lane told a University of Calgary audience that unless the risks associated with a central bank digital currency can be […]
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 […]
7-Eleven expands mobile payment options – Canadian Business Franchise
“Retail franchisor 7-Eleven has announced it will now accept Chinese mobile payment systems Alipay and WeChat Pay. These mobile payment options are currently available at 35 select locations in Vancouver and Toronto, with plans for expansion in the next few months.”
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 […]
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 […]
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
nbsp;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.”
Mogo Expands its Technology Partners with Plaid Integration as it continues to enhance its Best-in-Class Digital Financial Experience for Canadians
“Mogo is leveraging Plaid’s API technology to enable more convenient access to its products and help more people more easily gain control of their financial health. Plaid’s suite of APIs is already being used by many of the most innovative and fastest-growing companies in financial services.”
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 […]