Payments News

On The Web

nbsp; nbsp;

Global

80 Percent of Merchants in Canada Accept Apple Pay

“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 […]
nbsp;

Global

Younger Generations: a Driving Force in Changing Payments

“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 […]
nbsp;

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 […]
nbsp;

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 […]
nbsp;

On The Wires

nbsp;

Global

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

“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 […]
nbsp;

Global

Global Payments Announces Strategic Partnership With Desjardins Group in Canada

“Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology and software solutions, today announced an agreement with Desjardins Group, the leading cooperative financial group in Canada, to acquire its existing merchant acquiring business and portfolio of approximately 40,000 merchants. As part of the transaction, Global Payments will enter into an exclusive 10-year […]
nbsp; nbsp;

Companies

Alipay and SnapPay Enable Chinese Mobile Payments at FoodyMart

“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 […]