July 20, 2017 -- RiverPay Inc. has introduced payment solutions that connect China's leading mobile payment providers Alipay and WeChat Pay to North American merchants. This development is a significant win for merchants, who will now easily be able to accept payment from a large and quickly growing tourism market that embraces Alipay and WeChat Pay in their buying transactions.
July 18, 2017 -- Rise People, a new digital HR and group health insurance platform, announced today that its clients can now pay their employees in Bitcoin and other digital currencies, an inevitable trend among savvy workforces.
July 18, 2017 -- PayPal Holdings, Inc. and TIO Networks Corp. today announced that PayPal has completed its previously announced acquisition of TIO Networks. In accordance with the terms of the Arrangement announced on February 14, 2017, PayPal acquired all of the outstanding shares of TIO for $3.35 CDN ($2.64 USD) per share in cash or an approximate $302 million CDN ($238 million USD) equity value.
July 18, 2017 -- Mobey Forum, the global industry association empowering banks and other financial institutions to lead the future of digital financial services, today announces the themes and confirmed speakers for the second annual Mobey Day Toronto event, taking place on August 30 to 31, 2017.
July 17, 2017 -- IBM today unveiled IBM Z, the next generation of the world's most powerful transaction system, capable of running more than 12 billion encrypted transactions per day. The new system also introduces a breakthrough encryption engine that, for the first time, makes it possible to pervasively encrypt data associated with any application, cloud service or database all the time.
July 15, 2017 -- Promoted by UnionPay, EMVCo officially released the EMVCo QR Code Specification for Payment Systems: Consumer-Presented Mode Version 1.0 on its website on July 15, 2017, providing one of the first globally interoperable technical solution for QR code payment. The issuing of this specification also marks a new breakthrough in UnionPay's promotion of the international application of China's payment standard.
July 14, 2017 -- Swissquote, the Swiss leader in online banking that specializes in providing online financial and trading services and Bitstamp, the EU’s first and only licensed digital currency exchange, today announced that they will be partnering up. Swissquote will commence with BTC trading with EUR and USD on its platform, with Bitstamp providing a full-stack solution for all of Swissquote’s requirements.
July 13, 2017 -- The Canadian Prepaid Providers Organization (CPPO), the voice of the rapidly-growing prepaid payments industry in Canada, has announced the addition of three new members and an annual CPPO Prepaid Symposium to support its mission to promote a positive environment in which prepaid payments can responsibly grow and flourish in Canada. American Express, Mastercard and Visa prepaid card loads totalled $3.1B in 2015, and prepaid cards are the fastest-growing payment card category in Canada today.
July 13, 2017 -- A new mobile application which allows the purchase and use of public transit fares by smartphone will be tested all summer long by Société de transport de Laval (STL) employees. A secure one-stop solution with everything inside the phone, this novel payment mode experiment, which will run across the entire bus network territory, comes on the heels of the onboard credit card payment system in seven Laval bus routes.
July 13, 2017 -- Artificial intelligence (AI) is anticipated to make a significant impact on the retail banking sector, such as using non-traditional data types to assign credit ratings to potential borrowers, according to research and consulting firm GlobalData.
July 13, 2017 -- Cardtek today announced that it has supported Axis Bank to launch a national open-loop payment system for public transportation in India. The new payment solution will fully integrate the banking systems and it is certified by RuPay, the national smart card based payment standard in India, providing a secure payment platform that offers residents the ability to easily pay for goods and services – including public transportation – using either account-based or card-based open loop transit transactions. Cardtek becomes among the first vendors in India providing RuPay Level 2 Kernel certification.
July 12, 2017 -- Rise People, a new digital HR and group health insurance platform, announced a new free payroll offering to help small businesses thrive, making it the first free, full-service payroll solution for small businesses in Canada.
July 11, 2017 -- Innfinity Software Systems, a San Diego-based technology company providing managed travel and property management solutions, has unveiled plans to begin re-development of the back-end of the Innfinite® online booking tool, built on the blockchain.
July 11, 2017 -- Leaders from Toronto's startup and corporate innovation community gathered at the top of the CN Tower to announce a new technology festival called Elevate Toronto that will take place September 12-14, 2017. This new festival will showcase Toronto's thriving tech ecosystem while promoting Toronto internationally as a world class destination for innovation, startups, talent and investment.
July 11, 2017 -- Xpress Money has partnered with TerraPay to enable real-time international money transfers to mobile wallets in Africa. Powered by TerraPay's global clearing and settlement service for mobile wallets, the partnership will make it faster and convenient for Xpress Money consumers to send money to mobile accounts, in real time.
July 6, 2017 -- EPCOR has announced that the results of EPCOR’s first-ever Payments Benchmarking Study are now available. The purpose of the Study is to provide insights into the practices, approaches, and plans of similarly situated financial institutions in the central United States. Consumer and business payment products and services examined by the Study included: go-to-market and technology models; strategic issues, opportunities and challenges; and payments management and strategy.
July 6, 2017 -- Mastercard today announced that Masterpass is available on Air Canada.com and vacations.aircanada.com, helping travelers get from booking to vacation-mode even faster. Air Canada joins a rapidly expanding roster of travel sites offering fast, easy and secure digital payment with Masterpass.
July 6, 2017 -- VersaPay Corporation, a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, today announced a strategic relationship with Royal Bank of Canada RBC. As part of the agreement RBC will offer its business customers VersaPay ARC, an integrated accounts receivable solution, under the RBC brand.
July 5, 2017 -- Yellow Pages announced today an exclusive licensing agreement to resell in Canada the MyTime all-in-one commerce platform that includes online booking, automated marketing, point of sale, and analytics for local businesses.
June 29, 2017 -- As the ATM celebrates its 50th anniversary, a fashion makeover is high on the wish list of consumers worldwide. According to a global online poll of 8,000 consumers conducted by YouGov on behalf of leading global provider of real-time payments ACI Worldwide, easier, intuitive and more secure ways of accessing their bank accounts are a priority for ATM users worldwide: 43 per cent of consumers in Italy, 38 per cent in Spain and 28 per cent in the U.S. want ATMs to offer better and more secure ways of authentication.
June 28, 2017 – Flexiti Financial today announced that it has won a competitive bid to be the preferred POS financing partner in Canada for the dealers of outdoor maintenance and equipment manufacturers including Husqvarna, Briggs & Stratton, Ariens, Big Dog Mowers, Hustler, ECHO Power Equipment and ECHO Bear Cat. Flexiti Financial now has access to over 800 dealers that sell lawn and garden tools and outdoor power equipment.
June 28, 2017 -- American Express announced the availability of Android Pay, Google's mobile wallet, for Cardmembers in Canada. Android Pay is available for eligible Canadian Consumer, Small Business and Corporate Cards issued by Amex Bank of Canada1 and is supported on Android devices running on Kitkat 4.4 or higher. "At American Express, we're committed to offering fast and easy ways for our Cardmembers to make purchases," says Megan McKee, Vice President of Consumer Cards, American Express Canada. "Whether they're shopping in-stores or in-apps, our Cardmembers now have the option to use Android Pay while continuing to receive all the benefits and rewards from Amex."
June 28, 2017 -- Guestlogix, the Canadian technology company long recognized as a global leader in onboard merchandising, payments and retailing solutions for the airline industry, will be unveiling its new brand vision for helping the airline industry at the Future Travel Experience conference in Dublin today.
June 27, 2017 -- First Global Data and Selectcore, both companies are pleased to announce the formation of FintechUnion. FINTECHUnion is the convergence of various forms of FINTECH such as a prepaid card and mobile wallet that enables a full spectrum of payments as well as domestic and cross border remittances.
June 26, 2017 -- The rise of global commerce is creating an increasingly borderless economy, and businesses need to provide the payment method their customers prefer, regardless of regional and cultural preferences. To meet this growing need, today First Data announced the availability of the First Data Local Payments solution, which will provide digital businesses and their customers with access to 195 local payment options when fully implemented.
June 23, 2017 -- Today Ontario Centres of Excellence (OCE) and Boston-based FinTech Sandbox, signed an historic memorandum of understanding (MOU) to collaborate and expand the FinTech Sandbox model into Canada, starting in Ontario.
June 22, 2017 -- TMAC Toronto is pleased to announce that the Board of Directors has elected Cal Fryer as its new Chair. Cal succeeds Linda Hartley, who had been active with the TMAC Board since 2008. TMAC would like to thank Ms. Hartley for her outstanding leadership and valuable contributions over the past years.
June 21, 2017 -- OSPT Alliance, a vendor neutral, global association chartered to help the transit, mobile and loyalty markets move towards an open infrastructure that enables secure, cost-effective and flexible fare collection solutions, today announced that it has added Cardtek to its membership base.
June 21, 2017 -- Payfirma Corp. has rolled out its white label payment processing platform, PayHQ. The cloud-based technology enables financial institutions to fully rebrand Payfirma's platform and launch their own merchant services platform with their branding and marketing. As payment technology rapidly evolves and consumers seek multiple ways to pay for goods and services, financial institutions have struggled to offer solutions to their business customers. Instead of referring customers to legacy payment processors, they are now partnering or collaborating with nimble financial technology startups like Payfirma.
June 20, 2017 -- A new survey commissioned and release by FICO suggests that Canadian companies and security executives may be overestimating their ability to idendify, repel and fix their cyber threats. The survey reveals the thoughts and plans of security executives at 350 companies in Canada and other countries.
June 20, 2017 -- First Global Data is claiming the world's first and only bona fide social messaging remittance solution has been launched. The first phase of the service enables North American WeChat users to send money directly to a recipient in China. Funds are disbursed directly to the recipient's bank card/bank account at any bank in China.
June 19, 2017 -- Billaway, a U.S. based marketing technology company that enables mobile phone consumers the ability to earn rewards, today launches BBM Rewards with Creative Media Works, which operates as BBM Messenger, for consumers across Android and iOS platforms in Canada.
June 19, 2017 -- SmartCard Marketing Systems, Inc. is pleased to announce their partnership with Axepay Inc. a FinTech service provider for China Cross-Border RMB payments with integrated FX clearing & settlement. In addition, the partnership includes the ability to provide KYC & AML services for merchants dealing with China businesses and individuals. The partnership between SmartCard and Axepay creates a powerful suite of payment processing solutions that provide a conduit to perform payment transactions between merchants and individuals, and on a B2B basis, to pay-in and pay-out of China.
June 16, 2017 -- The Canadian Prepaid Providers Organization (CPPO), the leading voice of the prepaid industry in Canada, hosted a one-day symposium in May to discuss the changing nature of the Canadian prepaid market.
June 15, 2017 -- Element AI, an artificial intelligence company that delivers groundbreaking AI solutions, announced today it has raised U.S.$102M, representing the largest Series A funding round for an artificial intelligence company in history. With this funding, Element AI will accelerate its capabilities and invest in large-scale AI projects internationally, solidifying its position as the largest global AI company in Canada and creating 250 jobs in the Canadian high tech sector by January 2018.
June 14, 2017 -- Today's senior finance executives are battling record levels of fraud, in turn narrowing corporate focus and limiting resources that could otherwise be devoted to innovation, planning, budgeting and compliance. That's according to "Managing the Risk of Fraud: The View from Corporate Finance," a new report published today by Vesta Corporation, a global leader in integrated risk and payment solutions, and CFO Research. The organizations surveyed 155 U.S. senior finance executives to assess their experience with and expectations for fighting fraud, which have only intensified in recent years.
June 14, 2017 -- Today Misys and D+H have joined forces to create a diversified global financial software provider, unmatched in terms of depth and breadth of solutions. Operating under the new company name Finastra, the combination will create the third largest financial services technology company in the world. The company has approximately 10,000 employees and over 9,000 customers across 130 countries, including 48 of the top 50 banks globally. This follows the acquisition of D+H by Vista Equity Partners, which already owns Misys, creating a merger of two highly complementary financial technology providers.
June 14, 2017 -- The Canadian Federation of Independent Business (CFIB) is praising announcements from Visa and Mastercard that they will soon allow merchants the power to levy limited surcharges when accepting credit card payments from consumers.
June 13, 2017 -- The growing importance of e-commerce in global trade calls for payment methods which can handle customers using different currencies or preferred payment methods. This is why selecting the right payment gateway is one of the most important things businesses should consider when setting up a store.
June 8, 2017 -- Household indebtedness and housing market imbalances—the most important vulnerabilities for the Canadian financial system––have moved higher over the past six months, the Bank of Canada said today in its Financial System Review (FSR). However, "the financial system remains resilient, and macroeconomic conditions continue to improve," said Governor Stephen S. Poloz.
June 8, 2017 -- CIBC and PrivateBancorp, Inc. today announced that they have received all regulatory approvals required to complete CIBC's acquisition of Chicago-based PrivateBancorp, Inc. pursuant to their amended merger agreement announced on May 4, 2017. CIBC and PrivateBancorp anticipate that the acquisition will close on June 23, 2017.
June 7, 2017 -- International trade evolves at a rapid pace, and the customers seek the most convenient payment methods. One of them, the digital wallet, has been gaining popularity. What are the reasons behind this, and why may eWallets be the payment method of the near future?
June 6, 2017 -- PayU today announced a partnership with payment technology provider Zooz. Through the agreement, PayU will provide Zooz’s unique technology to its customers, helping to solve the cross-border commerce challenges currently faced by merchants looking to grow and scale in high growth markets. The companies will make a second announcement when they appear together in the Atrium Lounge at Money20/20 Europe, taking place in Copenhagen, Denmark from June 26-28.
June 6, 2017 -- CGI has announced the release of CGI Insight, a technology solution designed to transform how companies utilize data in their credit management operations and further support their digital transformation efforts. Available as part of the CGI Collections360 credit management solutions portfolio, CGI Insight solves the problems associated with inflexible data reporting solutions, allowing credit managers to significantly improve debt collection processes and performance by having access to new levels of actionable information.
June 5, 2017 -- Today Rambus Inc. announced that it is working with Google and Interac Association / Acxsys Corporation, the organizations behind Canada's leading payment brand, to enable Interac Debit on Android Pay in Canada. Through the Interac Token Service Provider (TSP), which was developed in collaboration with Rambus, Interac debit cardholders can make secure mobile debit payments, now using Android Pay, through tokenized transactions.
May 31, 2017 -- Google's Android Pay, a mobile wallet that allows people to pay with their smartphone, is now available for Canadians to download. Users can pay with the app in stores that accept contactless payment and on apps such as Uber and Lululemon that have an Android Pay button.
May 31, 2017 -- Today, members of Prompt Payment Ontario (PPO) congratulate the Ontario Government on the introduction of prompt payment legislation in Ontario. The introduction of prompt payment legislation is a ground breaking step in the right direction and will help to protect over 400,000 workers across the province. Ontario is the first province in Canada to introduce prompt payment legislation--leading the way for other provinces across the country and the federal government to do the same.
May 31, 2017 -- Canadian firms are ahead of the curve when it comes to cybersecurity risk insurance, but over one-third (36 per cent) have not taken out cybersecurity insurance at all. Those are key findings in a new survey conducted by research and consultancy firm Ovum for Silicon Valley analytics firm FICO, which reveals that even among those that have insurance, only 18 percent say they have cybersecurity insurance that covers all likely risks.
May 30, 2017 -- Canadian retailers are recognizing how important the adoption of digital and mobile technologies are in the face of rising consumer demand and new competitors entering the Canadian retail industry, according to the fifth annual Canadian Retail Insights Report released today by American Express.
May 30, 2017 -- Accenture has taken a minority position in and formed a strategic alliance with Nomis Solutions, a leading provider of analytics-driven pricing and profitability-management solutions to retail banks.
May 26, 2017 -- BMO Financial Group and the DMZ at Ryerson University announced today that they would be extending their partnership with the launch of the DMZ-BMO Fintech Accelerator program, benefitting Canada's top financial technology startups.
May 25, 2017 -- Decentral today announced that its flagship product, Jaxx, a user-controlled, multi-asset, multi-platform digital currency wallet and exchange, has secured over 70 new partners and integrations on the way to bolster its mission to become the ultimate command centre for all things blockchain. Just as the browser unleashed the power of the Internet, Jaxx will be the tool that brings digital currencies and digital assets to the masses, the company boasts.
May 25, 2017 -- Payment Source, a leader in the Canadian payments industry, announced today a new payment option for Canadian taxpayers. Taxpayers can now visit any post office, anywhere in the country, to pay their taxes using Payment Source's proprietary Loadhub service.
May 25, 2017 -- Cayan, a payment technology company, today announced a new strategic partnership with Squirrel Systems, a leading POS provider for the hospitality industry. Squirrel customers can now leverage Cayan's Genius payment platform to securely -- and quickly -- process all payment types including EMV®/chip cards, traditional magstripe credit and debit cards, gift and loyalty cards, as well as mobile payments like Apple Pay, Android Pay and Samsung Pay.
May 25, 2017 -- Collabria has partnered with Millennium1 Solutions in Toronto to move Collabria's call centre operations from the US into Canada. M1S will handle all cardholder calls relating to Collabria credit cards from its Canadian facilities. Collabria will transition to M1S effective September 5, 2017.
May 23, 2017 -- Although recognizing an expected increase in the number of attempted data breaches in the next year, just over a third of Canadian executives believe their organizations' cybersecurity will improve over the next 12 months, according to a new survey conducted by research and consultancy firm Ovum for Silicon Valley analytics firm FICO.
May 23, 2017 -- NetCents Technology Inc. is pleased to announce that it has released an e-ommerce plugin for WooCommerce. Netcents' revolutionary plugin allows e-commerce sites built with the WordPress platform to accept fiat currencies, credit cards, and cryptocurrencies such as Bitcoin and Ethereum.
May 22, 2017 -- Diebold Nixdorf today announced a strategic partnership with Kony, Inc. to offer white label mobile application solutions for financial institutions and retailers. The next generation mobile application suite—DN Mobile—will enable a unified and highly personalized experience by leveraging cross-platform data and integrating multiple channels to drive connected commerce.
May 19, 2017 -- Posera Ltd. announced its partnership with Ingenico Group, the global leader in seamless payment, for the launch of Posera's SecureTablePay Pay-at-the-Table solution in the U.S. market.
May 18, 2017 -- Deloitte today announced the launch of its enhanced Digital Bank offering to further accelerate a bank's digital transformation. Based on the Salesforce Intelligent Customer Success Platform and utilizing the Salesforce Financial Services Cloud, Digital Bank helps banks create exceptional experiences by providing tailored banking capabilities with accelerated implementation and realization of value.
May 18, 2017 -- Posera Ltd., a leading provider of software solutions for the hospitality industry, announced today the completion of certification with Vantiv, the largest payment processor in the U.S., for Posera's pay-at-the-table (PATT) solution, SecureTablePay.
May 17, 2017 -- Global card purchase volume for goods and services, which excludes cash advances on credit cards and cash withdrawals on debit cards, grew by 5.8 per cent to $20.606 trillion in 2016, according to The Nilson Report, the leading card and mobile payment trade publication. UnionPay debit cards were the most popular payment product based on purchase volume, followed by Visa credit cards, Visa debit cards, UnionPay credit cards, Mastercard credit cards, Mastercard debit cards, American Express cards, JCB cards, and Diners Club/Discover cards.
May 17, 2017 -- Credit, debit, and prepaid general purpose and private label cards issued in the United States generated $5.936 trillion in payments for goods and services in 2016. Processing fees, which include interchange, paid by U.S. merchants to handle all card payments, were $88.39 billion, according to The Nilson Report, the leading card and mobile payment trade publication.
May 16, 2017 -- As residents and visitors of the world’s major cities look for the best way to get around, Mastercard is making commuting easier, faster and more consistent. In over 80 cities around the globe, Mastercard and its partners are enabling users to pay for their train or bus simply by tapping their card or swiping their phone.
May 16, 2017 -- Conformance Technologies today announced its InConRadar offering has received the Electronic Transactions Association’s (ETA) PayPal Tech Innovation Award for best risk solution. Award judging and ceremonies took place last week during TRANSACT 17 at the Mandalay Bay Hotel & Casino in Las Vegas, Nevada.
May 16, 2017 -- Strengthening the FinTech ecosystem in the Toronto region must be an imperative for the country's financial services sector and governments in order to maintain and grow the region's international market position, according to a new report from the Toronto Financial Services Alliance (TFSA), researched and written by Accenture and McMillan LLP.
May 15, 2017 -- Nordstrom, Inc. has announced it is expanding its loyalty program in Canada, providing customers with a new opportunity to earn points for their purchases and access to exclusive perks. Beginning today, Canadian customers can apply for the Nordstrom Rewards Visa credit card and earn points on their purchases wherever they shop. The Nordstrom Rewards Visa will be offered through MBNA, a division of The Toronto-Dominion Bank and the leading provider of co-branded and affinity credit card programs in Canada.
May 11, 2017 -- KPMG International has announced the acquisition of Matchi, a leading global fintech innovation and matchmaking platform that connects financial institutions, including banks and insurance companies, with leading-edge financial services technology solutions and companies worldwide.
May 11, 2017 -- Beanstream, a provider of multi-channel payment solutions, today completes its evolution into Bambora. The Sweden-based global payments company, Bambora, offers flexible and secure payment services to businesses of all sizes. Bambora acquired Beanstream in 2015 and will now operate as the North American hub to serve customers in the region. Since the acquisition, there has been a 41 per cent growth in the number of staff, but Beanstream maintains Bambora’s start-up culture as it evolves from a traditional Canadian FinTech company to a global-minded business.
May 10, 2017 -- Northern Credit Union (Northern) took home the Canadian Credit Union Association’s (CCUA) prestigious Innovation Award for its online small business account opening software and unique Small Business Rocks program. The software, which comes courtesy of ASAPP Online Solutions (ASAPP), Northern’s FinTech partner, allows members to acquire Northern business products, including the Small Business Rocks Line of Credit from their office, handheld device or virtually anywhere. The Small Business Rocks program, meanwhile, celebrated Northern Ontario small businesses with three live networking events featuring live music, food, drink and business savvy presenters and was the launching platform for the ASAPP-engineered online account and loan origination software.
May 9, 2017 -- Dropping the $1,000 note and penny from our currency pales in comparison to the paperless, digital payment revolution that is underway. According to the Payments Pulse survey conducted by Payments Canada and Leger Marketing, the country seems willing to change with a majority ready to drop cheques altogether and half willing to do the same with cash.
May 5, 2017 -- EyeVerify Inc. today released The Retail Banking Biometrics Confidence Report to give financial institutions valuable insight into consumer preferences and behavior regarding various biometrics offerings.
May 4, 2017 -- ASAPP Online Solutions, the provider of Canada’s most complete personal and small business online account origination technology, has signed an agreement with Fiserv to interface ASAPP’s account origination technology with the DNA core account processing platform from Fiserv. ASAPP will leverage the open architecture of DNA APIs to create a responsive account origination experience that fully integrates with DNA, the leading core banking platform for Canadian credit unions.
May 3, 2017 -- Interac Association and Acxsys Corporation are gearing up to work with three Canadian startups to help them enable easier and faster payment experiences for their customers. The startups—OpenSports, Dibbzz and Navi—were selected following a Collision Day challenge at Communitech last week in which they made pitches for integrating with the new Interac e-Transfer 3rd party API (application programming interface) to streamline requesting and receiving money.
May 1, 2017 -- The Canadian Prepaid Providers Organization (CPPO), the voice of the rapidly growing prepaid payments industry in Canada, today announced the final speakers for the inaugural CPPO Prepaid Symposium on May 23, 2017 at the Westin Harbour Castle in Toronto. Prepaid cards are a vital component of Canada's digital economy, with $3.1 billion dollars loaded onto American Express, Mastercard and Visa prepaid cards in 2015.
May 1, 2017 -- ATMIA today published a new study on the role cash plays in financial inclusion. Entitled, “Access to Cash: the First Step toward Financial Inclusion” the study presents an international picture of the importance of cash and ATMs in reaching 2 billion financially excluded persons who have no bank account, including case studies in Kenya, the UK, Brazil and the Philippines.
April 27, 2017 -- BMO Financial Group today announced the launch of a new suite of Commercial Mastercard products that offer a range of reward benefits, including CashBack. These integrated card products combine convenience, flexibility and functionality into a comprehensive payment solution.
April 27, 2017 -- Global fintech investment got off to a soft start in Q1'17, with the total invested globally at US$3.2 billion, down from US$4.15 billion in Q4'16 according to the Q1'17 edition of The Pulse of Fintech, KPMG International's quarterly report on FinTech investment. Fintech M&A dropped in Q1'17, with US$920 million in deal volume—down from US$1.8 billion in the previous quarter, and less than half of the US$4 billion in funding in Q1'16. Venture capital funding to FinTechs held relatively steady at US$2.3 billion in Q1'17—a solid result although well below peak highs.
April 26, 2017 -- Mastercard has unveiled the next generation biometric card, combining chip technology with fingerprints to conveniently and safely verify the cardholder’s identity for in-store purchases.
April 25, 2017 -- TNS Smart Network Inc. has announced a new comprehensive vending payment solution for the Canadian vending, kiosk and unattended markets. The new solution integrates Crane Payment Innovation’s (CPI) MEI Cashflow EasiChoice card reader and Apriva’s newly certified payment gateway interface for Interac Flash to TNS Smart Network Inc. This new solution set provides one easy-to-use, seamless payment acceptance platform for Canadian operators to enable an enhanced customer experience with increased convenience and security.
April 24, 2017 -- Winning Brands Corporation and Securter, Inc. have entered into an Exploratory Discussion Agreement ("EDA") regarding the launch of Securter's new patent-pending technology to reduce credit card fraud—a major and growing problem in digital commerce. The agreement arises from Winning Brands' Innovators Community initiative, through which innovators can partner with Winning Brands for mutual advantage.
April 20, 2017 -- Spending in Canada grew by 3.46 per cent in the first quarter of 2017 on a year-over-year basis, according to the MonerisMetrics Quarterly Report released by Moneris Solutions Corporation. While overall spending is up, the quarter's results continue a trend of gradually slowing growth, suggesting that 2017 may be a year of moderate spending when compared to 2015 and 2016.
April 19, 2017 -- Today at the Facebook Developer Conference, Mastercard announced Masterpass-enabled bots to drive more seamless shopping on Facebook Messenger with FreshDirect, Subway and The Cheesecake Factory.
April 19, 2017 -- A new UN study reveals that Alipay and WeChat Pay enabled US$2.9 trillion in Chinese digital payments in 2016, representing a 20-fold increase in the past four years. The data shows that digital payments, using existing platforms and networks, provide access to a wider range of digital financial services, expanding financial inclusion and economic opportunity throughout China and neighboring countries.
April 19, 2017 -- The Société de transport de Laval (STL) and Desjardins Group has announced the implementation of a new pilot project to accept credit card payments by Visa or MasterCard onboard Laval buses. These two leading Quebec companies have joined forces to bring this innovative project to life as of Friday, April 21 on six of the STL's bus routes: 20, 39, 48, 60, 63 and 73. The STL is the first public transit company in Canada to test onboard fare payment by credit card (single fares).
April 18, 2017 -- Vantiv, Inc., a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, announced today that it has partnered with Womply, a merchant-focused technology company, to offer Vantiv BizShield and Insights to small and medium-sized businesses. The products will allow merchants to manage, protect and simplify their businesses with real-time data, advanced analytics, online reputation management and proactive threat management.
April 12, 2017 – A recent decision by the UK’s Competition & Markets Authority clears the way for the completion of the MasterCard’s planned acquisition of VocaLink Holdings Limited. The CMA gave final approval for the proposed set of remedies that address the competition concerns the CMA identified earlier this year. The deal is now expected to close in the coming weeks.
April 11, 2017 -- Canadian consumers and businesses are using the Interac e-Transfer service at record levels with more than 158 million transfers made over the platform in 2016. This volume is up almost 50 per cent from the previous year's 105 million transfers, according to data released today by Interac Association/Acxsys Corporation (Interac). The total value of Interac e-Transfer transactions also reached a new high, with more than $63 billion transferred in 2016, representing an average transaction of $408.
April 7, 2017 -- Glance Technologies is leveraging its technology, consumer base, and restaurant relationships to move into the online food delivery market by partnering with Daily Delivery for delivery logistics.
Online food delivery is a rapidly growing market within the restaurant industry. Currently disrupting traditional forms of delivery due to the rise of popular mobile ordering, the US food delivery market alone accounted for over $210 billion of restaurant revenue in the last year, of which $11 billion was exclusively through online ordering. This combined with the Canadian online food delivery market estimated at $7 billion dollar (CAD), provides Glance with the potential to establish new verticals of revenue and increase customer retention with a singular payment platform.
April 6, 2017 -- A national delegation of members and associates from the Canadian Institute of Steel Construction (CISC), the voice of the Canadian steel construction sector, met with parliamentarians from all political parties during CISC's "Steel Construction Day on the Hill" in Ottawa on April 4, to urge for immediate adoption of prompt payment legislation to address the severe problems impacting the construction trades and the entire construction supply chain.
April 6, 2017 -- TMX Group has a new Distributed Ledger Technology (DLT) prototype as part of its strategy to maximize efficiencies and solve day-to-day client challenges across its various business areas. The company developed the electronic shareholder voting system prototype based on DLT, more commonly known as blockchain technology, in collaboration with Accenture, a leading global professional services company.
April 4, 2017 -- Deluxe Corporation completed its acquisition of all the issued and outstanding common shares of RDM for $131 million (CDN) in cash. RDM Corporation is a provider of remote deposit capture (RDC) software, hardware and digital imaging solutions for financial institutions and corporate clients. Founded in 1987 in Waterloo, Ontario, RDM was publicly traded on the Toronto Stock Exchange and conducts business primarily in the United States. RDM customers include four of the top 10 banks in the US market and 31 percent of the top 100 Fortune 500 companies.
April 3, 2017 -- CIBC announced the availability of in-app voice commands that allow clients to access a variety of banking tasks and explore products or services with a simple voice prompt. The feature joins CIBC's recently introduced Digital Cart, a mobile service where users can open a new deposit account, apply for overdraft protection, and secure a credit card all in one digital experience within CIBC's mobile app — a first to Canadian banking.
April 3, 2017 -- The Air Miles Reward Program announced that in-store Air Miles Cash redemptions will resume on Wednesday, April 5th at 5:00 a.m. EST. Collector Account security is a top priority for Air Miles, which is why the company is also announcing a series of additional fraud management policies that will help to enhance account security for all collectors.
March 30, 2017 -- Canadian small businesses are adopting modern, tablet-based point-of-sale (POS) solutions in surprisingly low numbers, according to research commissioned by Moneris Solutions Corporation. Research revealed that less than one per cent of small businesses are using an advanced, tablet-based POS solution to process sales, while 42 per cent are sticking to the basics of a standard cash register. In retail environments where smart phones, mobility and self-serve technologies are shaping the customer experience, the cash register, with its limited functionality, will struggle to maintain its usefulness over time.
March 27, 2017 -- DH Corporation today announced that it is offering a cloud-based instant payments testing environment for the European market. The testing environment will provide simulated connectivity to EBA CLEARING's pan-European instant payment infrastructure solution, which is aimed at supporting European payment service providers in fully complying with the European Payments Council's SEPA Instant Credit Transfer (SCT Inst) Scheme. This environment will enable banks adhering to the SCT Inst Scheme to utilize D+H's web and mobile instant payments initiation channels and payment hub solution to experiment with and test instant payments quickly, easily and with low risk.
March 27, 2017 -- Canadian brokerage and real estate marketplace, Casalova, has teamed up with Dream Maker Developments to be the first in Canada to offer a digital purchase option for pre-construction condos. Unit sales for the pre-built development open online April 3, 2017.
March 23, 2017--The 2017 federal budget is perhaps most remarkable for what it does not say. For example, the budget does not advance any proposals in relation to postal banking, an idea floated early in the Liberal government mandate and which CCUA put considerable effort into challenging. Similarly, as discussed below, the budget does not propose any major new changes to tax policy despite considerable speculation to that effect in the lead up to the budget.
March 23, 2017--Esso has rolled out Speedpass+, a new app which lets customers pay for fuel from their smartphones from Imperial Oil, the first major fuels retailer in Canada to offer a mobile payment option at the pump that combines customer convenience and loyalty rewards.
March 21, 2017--Payments Canada has selected global consulting firm Accenture to help it lead Modernization, the multi-year initiative to transform the systems and rules essential to Canada's payments ecosystem. Due to the scope of the program and the number of participants involved, Payments Canada sought to team with a company that could provide in-depth payments expertise, along with change-management and program-management services to help manage the initiative.
March 20, 2017 -- IBM InterConnect: IBM and SecureKey Technologies today announced they are working together to enable a new digital identity and attribute sharing network based on IBM Blockchain. The network will be designed to make it easier for consumers to verify they are who they say they are, in a privacy-enhanced, security-rich and efficient way. When launched later this year, consumers can use the network to instantly verify their identity for services such as new bank accounts, driver's licenses or utilities.
March 17, 2017 -- Paytm, India's largest mobile payments and commerce company, has launched bill payments service for Canadians. This move marks the entry of the first Indian consumer service startup in the Canadian market. Paytm Founder & CEO, Vijay Shekhar Sharma and Toronto Mayor John Tory made the announcement at Paytm headquarters in Noida, India.
March 16, 2017 -- The Canadian Prepaid Providers Organization (CPPO), the voice of the rapidly growing prepaid payments industry in Canada, announced today it will host the inaugural CPPO Prepaid Symposium on May 23, 2017. Prepaid cards are a vital component of Canada's digital economy with $3.1 billion dollars loaded onto American Express, Mastercard and Visa prepaid cards in 2015.
March 14, 2017 -- VersaPay Corporation, a Gold level member of Oracle PartnerNetwork (OPN), today announced it has achieved Oracle Validated Integration of VersaPay ARCTM with Oracle's JD Edwards EnterpriseOne 9.2. Enterprise clients can make their customers happy and enable faster payments by deploying VersaPay ARC to automate their invoice to cash process.
March 14, 2017 -- New data shows that more than 41 million merchants and over two million ATMs across 160 countries and regions accept UnionPay cards. Over 10 million online merchants based outside mainland China support UnionPay Online Payment.
March 14, 2017 -- Montreal tech companies Connect&GO and Mobeewave made a big announcement at South by Southwest (SXSW), the annual arts and interactive media conference conglomerate held in Austin, Texas. Enabled by the innovative payment solutions of Global Payments Inc., a leading worldwide provider of payment technology services, the companies are going to revolutionize the way people accept cashless payments at events.
March 13, 2017 -- Ingenico Group today announced that Suzan Denoncourt, managing director of Canada, has been named to PaymentSource’s list of the Most Influential Women in Payments in 2017. The prestigious annual list honors the top 25 women who are driving significant change in payments and contributing to the advancement of women across the industry.
March 9, 2017 -- For the second year in a row, Cambridge Global Payments is recognized as one of Canada's Best Managed Companies in 2017. The 2017 Best Managed program honours the best-in-class of Canadian-owned and managed companies with revenues over $15 million demonstrating strategy, capability and commitment to achieve sustainable growth.
March 9, 2017 -- According to Canadian Banks 2017: #Bankovation… Innovation. Modernization. ReInvention report released today, innovation is a top priority for banks who are addressing two key pain points in Canadian banking: customer friction and back-office efficiency. Despite underlying economic challenges, Canada's Big Six banks achieved solid revenues and posted strong returns. Consolidated revenues were CA$133.6 billion in FY16, up 8.6 per cent from CA$123.1 billion in FY15. In the first quarter of 2017, banks continued to show strong results.
March 8, 2017 -- Dream Payments has announced the closing of a $10 million Series A financing round. The round was led by FairVentures Inc, the innovation investing arm of Fairfax Financial Holdings Limited. Connecticut Innovations (CI), Real Ventures and a prominent group of angel investors were also key participants in the financing. The capital infusion will fund the expansion of Dream's payments cloud into the U.S., the acceleration of Dream's third-party app ecosystem and the company's continued growth in Canada.
March 8, 2017 -- Telepin Software, a global leader in digital financial services platforms, has been acquired by Volaris Group. The company continues to be led by Vincent Kadar, Telepin's CEO, with oversight from Volaris.
March 6, 2017 -- Saxo Payments has today published a new white paper – Missing the Opportunity – which examines the challenges facing FX and payments businesses when it comes to adding value to their client proposition. Whilst cost comes top of the list of concerns for half of payments-related businesses when it comes to cross border transfers, the speed of setting up a currency account, FX and payment facilities is the greater risk when it comes to servicing clients.
March 6, 2017 -- LendingArch has announced the official launch of their new, real-time point of sale loan service for Canadian medical clinics and their patients.This loan product is designed to offer consumers an alternative to using credit cards to cover out-of-pocket medical expenses. LendingArch has over 1100 customer clinics who are on a waiting list to offer this type of flexible financing to their patients after it goes live on April 1st, 2017.
March 3, 2017 -- Central 1 Credit Union (Central 1) and Fiserv, Inc. have signed an agreement that makes it easy for credit unions running the DNA account processing platform from Fiserv to launch new online banking products.
March 1, 2017 --A provider of enterprise customer management solutions to the financial services and insurance industries, says they are successfully enabling firms to modernize their legacy Siebel CRM systems. NexJ's Siebel Replacement Program provides its customers with an alternative to traditional "Big Bang" or "rip and replace" system upgrades, which many firms hesitate to undertake due to the risk of service disruptions, budget overruns, and lack of user adoption, the firm claims.
February 28, 2017 -- Paysafe has today launched its GOLO app and web ordering platform, accessed through an instant and convenient consumer app that enables businesses to sell more effectively to their existing and new customers. With more than 100 local businesses already using GOLO, the 'Go Local' ordering app has now formally launched in Montreal ahead of a wider rollout across Canada, the U.S., UK and Europe over the coming months.
February 27, 2017 -- For the seventh year in a row, Interac Debit losses due to skimming have declined, reaching a record low of just $11.4 million. Latest fraud figures released today by Interac Association show that only $1.5 million of that fraud occurred in Canada, thanks in large part to the completion of the transition to chip technology that began in 2008.
February 28, 2017 -- DH Corporation has announced that Denali Federal Credit Union (Denali FCU), one of Alaska's largest credit unions with more than $650 million in assets, has selected D+H to provide its signature debit and consumer credit card processing.
February 27, 2017 -- At Mobile World Congress, Mastercard today announced that it will expand Qkr! with Masterpass, a mobile order-ahead and payment platform developed by Mastercard Labs, to six new markets including Canada and add new functionality to eliminate the traditional “open tab” at a bar, club or restaurant. Qkr! with Masterpass enables consumers to seamlessly order and pay for goods and services via their smartphone without having to wait in line or for a restaurant server. The app uses Masterpass, a global digital payment service that speeds up the checkout process without requiring consumers to enter their financial and shipping information at every new merchant site.
February 27, 2017 -- Simility has announced it has achieved PCI DSS Service Provider Level 1 Compliance. The company’s versatile platform encompassing human analytics and machine learning helps companies fight abuse and fraud, while fostering trust and safety.
February 27, 2017 -- FIME is pleased to announce that its Global test tool has achieved AMEX Enabled accreditation for cloud-based payment mobile application testing. This news expands FIME’s extensive portfolio of laboratory services and test tools for AMEX issuers and payment solution providers.
February 22, 2017 -- ACCEO Solutions Inc. and BDO IT Solutions have partnered to offer North American retailers a payment solution fully compatible with Microsoft Dynamics NAV and the LS NAV point-of-sale (POS) system.
February 21, 2017 -- Mogo Finance Technology Inc. today announced the launch of the digital Mogo Spending Account with Platinum Prepaid Visa Card. This is the fourth product in Mogo's innovative line-up of financial solutions designed to help Canadians manage their financial health and represents the next step toward Mogo's vision to build the best digital banking experience in Canada.
February 21, 2017 -- Consumers across the globe are more concerned with protecting their financial and payments information stored on a computer than they are with protecting this data when stored on a mobile wallet, according to new benchmark data, “Global Consumer Survey: Consumer Trust and Security Perceptions,” from ACI Worldwide and Aite Group. The global fraud study of more than 6,000 consumers across 20 countries revealed that only 43 per cent of global consumers trust businesses, including restaurants and merchants, to protect their financial data—while surprisingly, more than 80 per cent (of global consumers) generally believe their mobile wallet data is secure.
February 16, 2017 -- IBM and Visa Inc. today announced the industry's first collaboration that brings the point of sale everywhere Visa is accepted, by allowing businesses to quickly introduce secure payment experiences for any device connected to the Internet of Things (IoT).
February 16, 2017 -- The Canadian Federation of Independent Business (CFIB) and Mastercard today announced an agreement that recognizes the contribution and importance of small businesses to the Canadian economy and local communities. The partnership demonstrates the benefits of electronic payments in Canada while helping to reduce the cost of acceptance for small- and medium-sized enterprises (SMEs) who are members of the CFIB - Canada's largest organization representing SMEs.
February 16, 2017 -- SWIFT announces today that global transaction banks are actively using SWIFT’s new global payments innovation (gpi) service, which opened for live payments in January 2017. ABN AMRO, Bank of China, BBVA, Citi, Danske Bank, DBS Bank, Industrial and Commercial Bank of China, ING Bank, Intesa Sanpaolo, Nordea Bank, Standard Chartered Bank and UniCredit are live with SWIFT gpi, exchanging gpi payments across 60 country corridors. Numerous additional banks will follow in the coming months.
February 16, 2017 -- Credit card receivables, also referred to as outstanding debt, generated by cards issued in the U.S. topped one trillion dollars at year-end 2016 according to The Nilson Report. Those outstandings were tied to Visa, Mastercard, American Express and Discover cards as well as to private-label cards issued for use only at select retail, gasoline, medical, airline and car-rental locations.
February 15, 2017 -- VersaPay Corporation today announced that Intuit Inc. has implemented VersaPay ARCTM for select small business and accountant customers. The service allows the company's customers that primarily pay Intuit on a net term basis to use a self serve portal and pay online 24/7. This improves Intuit's collection tools and gives them the flexibility to better manage their invoice to cash cycle.
February 14, 2017 -- The Point of Sale terminal market has grown considerably over the past few years because they offer high returns on investments and are much easier to use. The demand for POS terminals especially from small and medium sized businesses has increased since they are more durable than traditional cash registers and help in lowering total cost of ownership. Security issues like data breaching which were supposed to restrain the growth of POS terminals have been settled by PINs (Personal Identification Numbers) and Chip-embedded payment cards.
February 14, 2017 -- Intel Security's second annual cloud security report, “Building Trust in a Cloudy Sky” outlines the current state of cloud adoption, the primary concerns with private and public cloud services, security implications, and the evolving impact of Shadow IT of the more than 2,000 IT professionals surveyed.
February 14, 2017 -- SecureKey Technologies Inc. and the Digital ID and Authentication Council of Canada (DIACC) have announced their receipt of a new Applied Research Grant to enable the development of a Cloud Identity Ecosystem.
February 13, 2017 -- Mobile TeleSystems PJSC has launched MTS Money Wallet, enabling users easy "one-click" access to MTS's financial services and to be rewarded with bonuses and loyalty points. The new service combines all payments tools on one platform, including electronic wallet, bank cards, and customers' mobile account balances. Not just a payment system, MTS Money Wallet is a hub for all of MTS's financial services.
February 13, 2017 -- Air Bank is partnering with Diebold Nixdorf based on the latter's ability to innovate and deliver enhanced consumer experiences with the CS 2020 cash dispenser, software and services. The cash dispensers feature a range of advanced software-enabled digital functions, including the ability to authenticate and transact without the use of a traditional card reader or PIN pad.
February 6, 2017 -- A recent study has found that while 99 per cent of Canadians have a bank account there is a growing interest, especially amongst younger Canadians, to adopt alternative payment tools that they view as more convenient. Prepaid cards continue to grow in both usage and popularity. At the same time, 13 per cent of consumers are using bank accounts less.
February 2, 2017 -- Scotiabank is providing a Digital Banking update today in Toronto to review the Bank's Digital Transformation and discuss how Digital will help the Bank continue to deliver a superior customer experience and realize benefits from increased efficiency.
February 1, 2017 -- In a move to push digital payments, the Indian government on Wednesday removed all duties on devices used in the process of cashless transactions like point of sales machines, finger print readers etc.
February 1, 2017 -- As a nation, Canada prides itself on stability and predictability, and those traits were reinforced in the latest ranking of the country’s most valuable brands. Every year, leading valuation and strategy consultancy Brand Finance values the brands of thousands of the world’s biggest companies. Canada’s 100 most valuable brands are listed in the Brand Finance Canada 100 league table.
January 31, 2017 -- Flexiti Financial, a leading provider of Point-Of-Sale (POS) financing and payment technology for retailers, today announced that it has secured access to over 1,000 new retail locations through a series of customer and partner wins, including Spence Diamonds, the Canadian Jewellers Association, Starkey Hearing Technologies, Andre's Electronics and Wicker Emporium. Together, these wins demonstrate continued momentum for Flexiti Financial's customer acquisition strategy and adoption of its award-winning POS lending platform by retailers across Canada.
Janaury 25, 2017 -- Today NextAI announced major partnerships with several leading Canadian companies to help fund and support the program and its participants. NextAI is a global innovation program for artificial intelligence-related ventures, and talented teams from around the world are invited to Canada to leverage the nation's leadership in AI and are provided with capital, mentorship, education and networking opportunities. The concept for NextAI was born out of an innovation brainstorming session sponsored by RBC and Magna during the summer of 2016, and joining RBC and Magna as founding corporate partners are BDC Capital and Scotiabank. To date, the funding provided by all corporate partners totals $5.15 million.
January 25, 2017 -- First Global Data Limited ("First Global" or the "Company") is pleased to announce that it has entered into a Letter of Intent ("LOI") to create a Joint Venture ("JV") with Selectcore Limited ("Selectcore" TSX Venture Exchange: SCG).
January 24, 2017 -- While the shift to online payments continues to ascend, there are stark generational differences when it comes to paying bills, according to new benchmark data, “How Americans Pay Their Bills,” from ACI Worldwide and Aite Group. U.S. consumers spent a record-setting amount on bill payments in 2016 ($3.9 trillion). They are faced with a wide range of transactions involving myriad methods of payments and channels, leading households to reprioritize how and when they pay their bills.
January 24, 2017 -- First Global Data Limited ("First Global" or the "Company") is pleased to announce that more than 400 movie cinemas and food courts across India will be accepting the VPayQwik mobile app as a payment method.
January 23, 2017 -- System Innovators (SI), a division of N. Harris Computer Corporation, is pleased to announce that the Corporate Cashiering department at the City of Calgary, Alberta is now live with iNovah Enterprise Revenue Management (ERM), taking 27,500 payments in the first day. The citywide implementation of iNovah consolidates the City's legacy cashiering solutions and provides a state-of-the-art cashiering and enterprise revenue management solution that reduces manual efforts and delivers a consistent experience for staff and citizens.
January 23, 2017 -- DH Corporation, a leading provider of technology solutions to financial institutions globally, today announced that it is part of the frontrunner service providers ready to provide banks that join the EBA CLEARING instant payment service with support services. The "frontrunner service providers" label and public listing have been introduced by EBA CLEARING on its website to help European financial institutions identify service providers that can assist early adopters in particular in connecting to EBA CLEARING's pan-European real-time payment infrastructure.
January 20, 2017 -- Canada's Ombudsman for Banking Services and Investments (OBSI) has published its strategic plan, which outlines the key strategic directions that the organization will pursue over the next three to five years.
January 18, 2017-- Ceridian, a global human capital management technology company, announces the results of an outstanding year for awards and recognition. In 2016, Ceridian was recognized 36 times, winning awards for a variety of achievements, including innovation, leadership, culture, and being a top employer.
January 18, 2017 -- Basware, the global leader in networked purchase-to-pay (P2P) solutions, e-invoicing and innovative financing services, today announced that it has been recognized for providing the best web-based supply chain financing solution by Global Finance magazine in its tenth annual ranking of the World’s Best Supply Chain Finance Providers. The company was selected for its working capital services portfolio, which delivers multiple payment and financing options, enabling companies to realize greater financial agility, flexibility and liquidity. Basware’s financial services operate over the Basware Network, the largest open business network in the world, providing easy collaboration between buyers and suppliers of all sizes.
January 18, 2016 -- Credit cards continued to gain share against all other forms of payment in the U.S. in 2015. The Nilson Report, the leading card and mobile payment trade publication, measured 11 methods of consumer payments in the U.S.
January 17, 2017 -- Today Smooth Commerce announced the launch of Register with Visa Checkout in the SmoothPay app, showcasing a first-of-its-kind innovation to enhance the mCommerce experience by speeding up the registration process within mobile applications. The collaboration between Smooth Commerce and Visa marks the first integration of Visa's Developer program in Canada.
January 12, 2017 -- ACCEO Solutions Inc. has announced a new partnership with Mastercard to offer state-of-the-art in-store and e-commerce payment solutions to retailers with a global presence, using Mastercard Payment Gateway Services and ACCEO Tender Retail. A leading payment processing and device management solution, ACCEO Tender Retail is deployed by world‑class retailers throughout North America and is part of the wide range of products and services provided by ACCEO.
January 3, 2017 -- Ricoh Canada Inc. today announced the release of their e-Invoice Presentment & Payment Service – a powerful new solution designed to help customers rapidly gain new efficiencies through the delivery of digital bills and invoices to their customers and suppliers.