PaymentsNews

On The Web

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Companies

ALIPAY PARTNERS WITH MOTION PAY TO ENABLE CHINESE PAYMENTS FOR CANADIAN RETAILERS

“Through the partnership, Alipay is now accepted in major cities in Canada including Toronto, Vancouver, Montreal, Ottawa, and Banff, and across several categories including retail, restaurants, hospitality, and luxury. Alipay’s over 520 million active users in China will be able to use their Alipay Mobile Wallet at POS with Motion Pay merchants, both in-store and […]
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Global

Canada’s real-time payment rail (RTR)

“Payments Canada began responding to the global and domestic trend towards faster payments in 2015 with an ambitious modernization initiative that I will provide an overview for here. Our plan includes the launch of a new Real-time Payment Rail (RTR) by the end of next year but it is part of a wider overlapping, on-going project. Rather than […]
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Global

Announcing A New Feature: Set It & Forget It

“With Set it & Forget it you have the ease of knowing that all your bills are being paid on time. You won’t have to worry about remembering the passwords for every service provider, or worse trying to remember where you placed that paper bill! We have the largest number of service providers on our […]
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Global

Bank of Canada calls for global alignment on cryptocurrency policy

“The Bank of Canada’s senior deputy governor is calling for authorities to work toward a coherent set of globally aligned policies governing cryptocurrencies. Carolyn Wilkins told a University of Toronto conference on Thursday that such a strategy will need to cover risks in both cash and derivatives products, as well as the related ecosystems. Wilkins referred to cryptocurrencies […]
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Domains

One Millions Taps—Tap To Pay Hits A Milestone

“It’s been two months since we launched Tap to Pay and we are happy to share our customers have embraced this new payment option in a big way. To date, there have been 160,000 unique users who have tapped their contactless credit cards and mobile wallets—a combined—more than one million times!  If you are a tourist in Metro Vancouver […]
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Global

Chinese e-wallets a ‘no-brainer’ for B.C.

“However, unlike the mobile wallet more familiar to Vancouverites, Apple Pay, the Chinese alternatives do not limit transactions to $100 as Apple Inc. (Nasdaq:AAPL) does in Canada. A customer could make a $5,000 purchase, in theory, if his or her credit card allows it.”
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Global

How Canada’s Banking Protections Stifle Innovation At Home, But Give Big Six Free Rein To Expand Abroad

“Canada has a reputation for having a relatively steady banking sector and the high degree of regulation is intended to keep the financial system safe. Yet the same rules keeping everything on an even keel could also have the unintended consequences of limiting competition and consumers’ choices. Current rules include restrictions around ownership and anti-money […]

On The Wires

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Global

Payments Canada releases detailed future view of Canadian payments

“Payments Canada today issued an in-depth view of the target end state for payment system modernization in Canada, including the infrastructure, rules and standards that will benefit Canadians and businesses from coast-to-coast. Following months of collaborative industry effort to define requirements and map future plans, Payments Canada has detailed the future state required to improve […]
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