On The Web

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Global

Card Networks Up Canadian Contactless Transaction Limits To Limit Physical Contact

April 6 2020

• in
• Canada
• Networks

“Contactless payments already capture a big share of point-of-sale purchases in Canada, and that share is sure to grow with recent announcements by Visa Inc. and Mastercard Inc. that they are raising their contactless transaction limits to C$250 to limit the handling of cards that could spread the coronavirus, according to news reports. The limits […]

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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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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

Electronic Payments in Canada Accounted for 73 Percent of All Transactions in 2018: Report

December 9 2019

• in
• Canada

“Electronic payments accounted for 73 percent of all transactions made in 2018, according to a recent report from Payments Canada. The newly released 2019 report analyses the 21.1 billion payment transactions that Canadians made in 2018 that totalled $9.9 trillion in value. Cash payments only made up 21 percent of all transactions. The report also […]

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Global

Opinion: Canada’s Sub-standard Payments System Is Only Supporting the Incumbent Banks, Not Canadians

January 15 2020

• in
• Canada

“As a course correction, Finance Canada must seek legislative amendments to the Canadian Payments Act authorizing paytech companies as eligible members of Payments Canada and enshrining competition as a stated public policy objective for the payments system. Furthermore, the Minister of Finance should issue a directive to Payments Canada requiring the completion of the proposed […]

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Global

In Canada, Fast-Growing Debit Gets Further Impetus Via a New Rule That Opens More Acceptance Venues

February 3 2020

• in
• Canada

“A new rule took effect this week in Canada that is expected to enable more debit card transactions by opening up venues such as buses, trains, parking meters, and vending machines for acceptance.  The regulation, called Rule E5, comes from Payments Canada, the country’s clearing-and-settlement operator, and amends a prior requirement that merchants maintain “consistent” […]

On The Wires

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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

Global Payments Announces Strategic Partnership With Desjardins Group in Canada

October 31 2019

• 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 […]

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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 […]

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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 […]