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

Online Cannabis Marketplace Dutchie Now Taking Visa, Mastercard Payments In Canada

April 17 2020

• in
• Canada
• Cannabis payments

“In an exclusive conversation online cannabis marketplace operator Dutchie revealed it has been quietly processing Visa and Mastercard payments in Canada since Thursday, April 9, enabled by a partnership with secure payment solutions provider Merrco. While cannabis is federally legal in Canada – unlike the U.S., implementing digital and/or contactless payment solutions continues to pose a […]

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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” […]

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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

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 […]

On The Wires

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Global

Scotiabank 1st to Offer Real-Time Payments in Canada through Interac e-Transfer® for Business

December 10 2020

• in
• Canada
• Real-Time Payments

“Scotiabank is the 1st financial institution in Canada to offer real-time payments for all business banking customers using flexible routing options like an account number or email address, using Interac e-Transfer® for Business. This, along with data-rich remittance information will make it easier for businesses of all sizes to pay one another and reconcile transactions in real-time.”

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Domains

Interac Collaborates with Walmart to Expand Debit Payment Options across Digital Shopping Experience

November 10 2020

• in
• Canada
• POS

“Interac Corp. today announced that it is working with Walmart Canada to offer its customers enhanced methods of paying with debit online and in-store. With a target timing of Spring 2021, Walmart shoppers will soon be able to checkout using Interac® Debit for In-App and In-Browser Payments on proprietary wallets. Walmart has also begun rolling out Interac Flash® at […]

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Global

Bank of Canada designates Interac e‑Transfer as a prominent payment system

August 11 2020

• in
• Canada
• Faster payments

“Bank of Canada Governor Tiff Macklem has designated Interac e‑Transfer ® as a prominent payment system under the Payment Clearing and Settlement Act, effective August 10, 2020. This brings Bank oversight to this payment system and ensures it remains a safe, viable and effective method of payment for Canadians. The Bank regularly monitors the evolution of new and existing payment […]

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Global

Payments Canada Publishes ISO 20022 Messages for Lynx, Canada’s New High-value Payments System

June 15 2020

• in
• Canada
• ISO 20022

“Payments Canada today announced the availability of ISO 20022 messages for Lynx, Canada’s new high-value payments system.  With the publication of ISO 20022 messages for Lynx, system participants can start preparing their existing applications to leverage the value of ISO 20022. Likewise, vendors who support Canada’s payments ecosystem can use the published messages to update […]

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Companies

eBay Continues to Expand Its Management of Payments to Australia and Canada

April 20 2020

• in
• Australia
• Canada
• eBay

“As eBay continues to modernize its marketplace and create a more streamlined experience for buyers and sellers, the company is expanding its management of payments to Australia and Canada later this year. Australia and Canada are the fourth and fifth countries to offer eBay’s new payments experience, after the U.S., Germany and the U.K. “By managing payments on our platform, we are enhancing the eBay experience […]