May 23, 2013 – PayPal paints a dim future for the wallet, especially in the Canadian market with the results of a survey released today. Almost nine in ten Canadians indicated they wished they did not have to carry a wallet followed by a vast majority of respondents across five countries (Australia, Canada, Germany, the U.S. and the U.K.) wishing they were wallet-free.
May 10, 2013 – In the wake of a number of recent arrests made in the United States of individuals who allegedly carried out cyberattacks on the international banking system to enable fraud and theft, the Canadian Bank Machine Association and ATMIA (ATM Industry Association) are clarifying the facts around the case as it relates to ATMs, especially here in Canada.
May 9, 2013 - RBC and Bell are launching an easy, fast and secure way for RBC mobile banking customers to purchase goods and services with debit or credit by simply using their compatible Bell Mobility smartphones.
May 7, 2013 - Mobile wallet platform Paytoo has entered an agreement with provider of mobile payment and mobile commerce solutions Mobilepaid and Canadian eCommerce and mCommerce services provider AnywhereCommerce to deliver PayTooSwipe, a mobile payment acceptance solution that can support payment presentation technologies.
May 7, 2013 - Canadian retailers who have delayed rolling out an eCommerce website are facing competition from US e-tailers who are becoming better positioned to steal web revenues from homegrown companies, recent statistics indicate.
April 25, 2013 – MasterCard has been recognized as a top corporate leader for diversity by DiversityInc and jumped ten spots to fifth place on this year’s list of top 50 companies. MasterCard was distinguished for the company’s ongoing commitment to a culture of inclusion, driving innovation, talent development and results.
April 22, 2013 – NACHA, The Electronic Payments Association’s Internet Council has launched a WEB eResources Center to offer resources and tools to support businesses and financial institutions in implementing and using the WEB Standard Entry Class (SEC) code as an ACH payment option.
April 15, 2013 – A Texas-based bank has launched a mobile bill payment solution that takes advantage of the smartphone cameras to simplify payments. Through Picture Pay, once a customer takes a picture of a bill with their smartphone, they simply enter the amount and payment date and the bill is paid. Picture Pay’s technology reads the data from the bill and its built-in analytics confirm the biller. Then, Picture Pay automatically executes through Allied Payment Network.
April 15, 2013 - Credit unions will be the first financial institutions in Canada to offer remote deposit capture - the ability for members to use the camera in their mobile device to snap an image of the cheque they want to deposit and use their mobile banking app to deposit the item electronically. No more taking a cheque to a branch or an ATM. Deposit Anywhere is Central 1's branded mobile deposit service.
April 11, 2013— Despite security concerns, a great number of American consumers are tapping into their mobile devices for money management, according to “Mobile and Money,” a new study conducted by Interactive Advertising Bureau (IAB) in partnership with InMobi and Viggle. The study looks at how mobile users are leveraging smartphones and tablets to manage their personal finances.
April 08, 2013 - Alvic Property Management, a property management company specializing in the management of condominiums, cooperatives and multifamily rentals in the New York metro area, has become the first property management company to accept rent and maintenance payments in Bitcoin.
April 5, 2013 - Desjardins Group and Crédit Mutuel-CIC Group, a first-tier mutualist financial institution in Europe, have announced the creation of Monetico International (MI). Based in Montreal, the organization will offer innovative payment solutions for the merchant clients of both financial institutions.
April 2, 2013 - CGI is consolidating its security expertise and offerings in response to the rapidly increasing risk security threats pose to Canadian business by establishing a Security Centre of Excellence, located in Ottawa. The Security Centre of Excellence comprises over 200 security professionals, a 24/7/365 Security Operations Centre and one of three accredited security evaluation test centres in Canada.
March 27, 2013 - Alterna Savings has renewed its contract with Threshold Financial Technologies Inc. for payment processing services. In addition to transaction processing, Threshold also manages Alterna's fleet of 79 ATMs, as well as debit card provisioning and management. Threshold is a full service integrated solution provider of payments processing and ATM managed services to financial institutions and corporate retail clients.
March 20, 2013 – With today’s digital consumers embracing mobile, social and cloud computing, ING DIRECT Canada is applying a smarter commerce approach to consumer banking with IBM's help in meeting the rising expectations of its 1.8 million digital customers. IBM is working with the online bank to deliver innovative financial services that improve ING DIRECT’s customer experience including simplified account access across mobile devices and social media channels, voice recognition and advanced security.
March 15, 2013 - A tough economic climate has changed the shape of retail and the way in which customers shop – as well as having a considerable effect on retail technology innovations, says leading technology company Synqera. Although there has been a string of high street casualties in recent years, the fact that retailers have had to become much more savvy in their approach to attract and retain customers has played an important role in retail innovations – an area which has really evolved.
Mar 14, 2013 – In 2012, the total losses resulting from account takeover and new account fraud each rose by approximately 50 per cent over the previous year. These two fraud types impact consumers most severely, and are historically more difficult for FIs to prevent and detect than any other major fraud type. Today, Javelin Strategy & Research releases the firm’s 2013 Banking Identity Safety Scorecard. For eight years, Javelin has evaluated the top 25 FIs by deposit size based on their consumer facing security features in the three fraud stages of Javelin’s Protection, Detection, and Resolution Model.
Mar 12, 2013--Control Group, a leading New York City-based technology and design firm, is working with the newly launched Kate Spade Saturday brand to blend physical stores with eCommerce. The unique concept celebrates the social side of shopping by bringing the online experience into the retail stores. The first experience will be through the flagship store in Tokyo, which opened on March 2nd. It will roll out to all other retail stores – both in the US and Japan – throughout 2013.
Mar 11, 2013 -- Western Union has created two mobile apps to assist billers in introducing mobile payment solutions to their customers. The two apps are for use with the Western Union Speedpay service.
Mar 5, 2013 - The city of Appleton, Wis., is reporting extraordinary results just four months into its LUKE II multi-space parking pay station trial. The city attributes a 300 per cent increase in parking revenues to the pay stations' ability to accept bills as payment and because consumers can no longer piggyback on time from previous parking.
March 4, 2013 - Research shows the number of active mobile money users grew impressively; more than 30 million people undertook 224.2 million transactions totalling $4.6 billion during the month of June 2012 alone according to the GSMA’s second annual Global Mobile Money Adoption Survey.
February 27, 2013 - Visa Canada has found a significant number of young Canadians who regularly post personal information on social network sites are putting themselves at unnecessary risk by mirroring similar oversharing behaviour offline with their payment card information.
February 20, 2013 — Square now offers brick-and-mortar stores all the hardware to run a business in one convenient and affordable package. Square Register serves as the full point-of-sale system for businesses to accept payments, track sales and share item and location information.
February 20, 2013 – SecureKey has completed an agreement with EnStream, a joint venture of Bell Mobility, Rogers Communications, and TELUS Corporation, to enable SecureKey authentication technology on mobile phones in Canada.
February 13, 2013--The Financial Consumer Agency of Canada (FCAC) issued Commissioner's Guidance to clarify three issues related to the Code of Conduct for the Credit and Debit Card Industry in Canada (the code). The Commissioner's Guidance, which stems from the code, applies to payment card network operators that operate in Canada and their participants, including independent sales organizations and other service providers.
February 7, 2013- The growth in the use of electronic payment products, such as credit and debit cards, added US$9.7 billion to the Gross Domestic Product (GDP) of Canada over the past four years, according to a study conducted for Visa by Moody's Analytics, a leading independent provider of economic forecasting.
February 6, 2013 - Canadians who want their tax refund quickly but don't want to pay cheque-cashing fees and take unnecessary risks with carrying cash, now have a better way to get their tax refund quickly and securely. MasterCard Canada has partnered with H&R Block, Canada's largest tax preparer and DC Bank, a leading provider of prepaid cards, to offer the H&R Block Advantage Prepaid MasterCard.
February 4, 2013– Most digital wallets are unknown and misunderstood among American consumers, according to a comScore study released today. Digital wallets, which store a virtual copy of the contents of a consumer’s physical wallet to facilitate online or offline retail transactions, only had awareness among 51 per cent of U.S. consumers for wallets other than PayPal.
February 4, 2013 – BMO Personal Banking customers will soon be able to conduct online Western Union Money Transfer transactions directly from their accounts via Acxsys Corporation’s Interac e-Transfer platform, to Western Union Agent locations in Canada and more than 200 countries and territories worldwide. The agreements are expected to be implemented in the first quarter of 2013.
February 1, 2013 – UK-based instant money transfer brand Xpress Money has introduced its online portal for Canadian remittance services with payments provider DebitWay. As a result, customers of Canadian banks BMO, RBC, Scotia Bank and TD Canada Trust can access this service to send money across the world.
January 31, 2013 – Tenzing has joined Sitecore's partner program in an effort to become a leading service provider for e-commerce businesses. The move is enabling Tenzing to provide advanced website content management and marketing tools to allow its e-commerce customers to create unique user experiences
January 29, 2013 – Everlink is the first payment processor in North America to provide a financial institution with the ability to instantly issue fully personalized Interac Flash enabled debit cards in its branches. This achievement was fully realized on January 28th when Sunova Credit Union began leveraging the recently enhanced Everlink Instant Card Issuance ( ICI ) solution, a web-based, turn-key solution for the on-demand issuance of fully personalized EMV chip debit cards for its members.
January 25, 2013 – New research confirms that mobile bill payments ars on the rise but that consumers pay their bills in multiple ways each month, according to Fiserv. The survey also showed there is a correlation between how consumers pay bills and their use of the internet. The fifth annual Billing Household Survey assessed the bill payment habits of active online households and was the first survey in the series to also evaluate the payment habits of consumers who use the internet infrequently or not at all.
January 18, 2013 – ATMIA today announced the publication of a new best practice manual for preventing cash trapping at ATMs. Due in part to the success in addressing many types of ATM fraud, cash trapping, a type of ATM crime that goes back many years, has been reinvented and is currently on the rise again in some parts of the world, including Europe.
January 17, 2013 -- In Canada, after a cheque is deposited, it must be presented to the financial institution on which the cheque is drawn (the drawee), or its agent, so that the drawee can decide whether to honour the item. Depending on the physical distance between the two financial institutions, presentment can take several days. The time that it takes for a cheque to be presented, potentially dishonoured and subsequently returned, means that a depositor may not be aware that a payment has been refused for several days following the initial cheque deposit.
January 16, 2013 --
Moneris recently announced a partnership with Prospera Credit Union, a British Columbia-based, member-owned co-operative enterprise that provides full service financial offerings to individuals and businesses from Vancouver to Kelowna.
January 14, 2013 --
CSI Enterprises, under the trademark brand name globalVCard is set to open its newest office in downtown Toronto. CSI Enterprises announced it is in the early stages of expansion of its globalVCard MasterCard product line into the Canadian market.
January 8, 2013 -- In collaboration with handset maker RIM, the manufacturer behind BlackBerry, and Canadian telco Rogers, the bank has placed a print magazine advertisement in Connected Rogers Magazine that contains an NFC tag developed by NFC specialist Crosscliq. Readers can tap the NFC tag contained in the advert to obtain a holiday gift offer.
January 4, 2013--Following recent decisions by Visa Canada, MasterCard Canada has communicated plans to increase its transaction fees for small merchants in the summer of 2013. MasterCard will increase its "assessment fee" from 6.4 to 7.7 basis points - a 20 per cent increase on July 1, 2013.
Canadian Equipment Finance The magazine for financing and leasing executives
The magazine for senior financial executives