On The Web

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Companies

7-Eleven expands mobile payment options – Canadian Business Franchise

February 6 2019

• in
• Alipay
• Canada
• WeChat Pay

“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.”

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Global

Meridian Set to Launch Its New Digital Bank Called Modusbank

February 5 2019

• in
• Canada
• Challenger Banks

“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

February 4 2019

• in
• B2B
• Canada

“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 […]

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Global

80 Percent of Merchants in Canada Accept Apple Pay

April 4 2019

• in
• Canada
• Mobile wallets

“During the company’s Show Time event keynote, Apple CEO Tim Cook revealed that 80 percent of retailers in Canada accept Apple Pay. In comparison to other countries, Canada stands in the middle of the pack. In the U.S., for instance, 70 percent of merchants accept the mobile payments platform, while in Australia an impressive 99 […]

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Global

Younger Generations: a Driving Force in Changing Payments

May 10 2019

• in
• Canada

“From the use of automatic and invisible payments to the popularity of apps for tracking spending, a new study released today by Payments Canada reveals that Millennials and Gen Z yearn for easier, more convenient options to meet their changing purchase and lifestyle patterns. These payment preferences should strike a chord with Canadian businesses. The […]

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Deals

Zafin Raises $17.2M in Series B Funding

January 23 2019

• in
• Canada

“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 […]

On The Wires

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Global

Mogo Expands its Technology Partners with Plaid Integration as it continues to enhance its Best-in-Class Digital Financial Experience for Canadians

January 23 2019

• in
• APIs
• Canada

“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.”

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Companies

Alipay and SnapPay Enable Chinese Mobile Payments at FoodyMart

March 6 2019

• in
• Canada

“SnapPay, Inc., a leading provider of secure, cross-border payment solutions, and Alipay, the world’s leading digital payment platform, operated by Ant Financial Services Group, today announced a collaboration that will see Canadian-Chinese Grocery Chain, FoodyMart, accept Alipay’s digital payment platform, enabling consumers to pay in Chinese currency, at all locations, including their newly re-designed, “Alipay […]

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Global

IBM Canada Joins Payments Modernization Journey As Lead Technology Partner for Canada’s New High-value System

May 2 2019

• in
• Canada

“Payments Canada announced today the selection of IBM Canada as the lead technology partner for Canada’s new high-value payments system, Lynx. IBM Canada will provide combined hosting and system integration services for end-to-end delivery and system operations. This involves delivering security expertise, supporting the new system launch, including the cutover from Canada’s current Large Value […]

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Global

REPAY and Visa Canada Announce Partnership to Expand Online Payment Acceptance in Canada

August 14 2019

• in
• Canada

“Together, the companies are making it easier for Canadian lenders and finance companies to accept debit cards as a form of repayment in a card-not-present environment. Visa has made debit card payments a viable alternative to cheques and ACH. Paying off debt with a Visa debit card has major advantages for both the consumer and […]