Payments Canada

PayPal launches its most advanced solution for small businesses in Canada

Retrieved on:

Tuesday, March 5, 2024

PayPal, BigCommerce, Financial services, Small business, Payments Canada, Growth, WooCommerce, Fraud, Commerce, Online shopping

From world-class seller, fraud, and chargeback protection, small businesses can take advantage of this new solution to grow their business.

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From world-class seller, fraud, and chargeback protection, small businesses can take advantage of this new solution to grow their business.
TORONTO, March 5, 2024 /CNW/ - PayPal Complete Payments launches today for small and-mid-sized enterprises in Canada, UK, and over 20 European markets.
The solution enables small businesses in Canada to accept a range of payments including PayPal , Apple Pay®1, Google Pay™️2, credit and debit cards, and more than 20 alternative payment methods from around the world.
Helping small businesses take advantage of global e-commerce is a key pillar," said Nitin Prabhu, Vice President, Small Business and Financial Services, PayPal.

Payments Canada Announces CEO Transition

Retrieved on:

Wednesday, February 7, 2024

Transfer, Partnership, Black, CFO, Human resources, Strategic management, RTR, Safety, ISO, Ecosystem, Payments Canada, Large Value Transfer System, LVTS, Black's, CDO, Business, Management

Tracey Black to Depart; Kristina Logue and Jude Pinto Appointed Interim Co-Chief Executive Officers, Effective April 1, 2024, Board Initiates Comprehensive Search for Successor

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Tracey Black to Depart; Kristina Logue and Jude Pinto Appointed Interim Co-Chief Executive Officers, Effective April 1, 2024, Board Initiates Comprehensive Search for Successor
OTTAWA, ON, Feb. 7, 2024 /CNW/ - The Payments Canada Board of Directors today announced that Tracey Black, who joined Payments Canada in 2018, made the decision not to renew her term as President and CEO of Payments Canada.
"On behalf of the Payments Canada Board of Directors, and all of our employees, members, and stakeholders, I want to thank Tracey for her many contributions to the organization through her leadership over the past five years," said Garry Foster, Chair of the Payments Canada Board of Directors.
"Tracey's leadership has been crucial to the progress Payments Canada has made in modernizing the payment ecosystem in Canada and positioning the organization for the next phase in its advancements.
I feel extremely confident that Payments Canada, our members, partners and employees are in excellent hands – and perfectly poised for the next phase of continued payment innovation in Canada."

Canadians report a love-hate relationship with cash, reveals new Payments Canada study

Retrieved on:

Wednesday, November 15, 2023

Bank, Sale, Research, Emergency, Thought, Payments Canada, Cryptocurrency

26 per cent of Canadians feel the need to wash their hands after handling cash.

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26 per cent of Canadians feel the need to wash their hands after handling cash.
Canadians are divided on embracing digital currency; 36 per cent find a digital dollar appealing, while 30 per cent do not.
15 per cent of Canadians use cash to make 'under the table' payments.
A further 32 per cent of Canadians report mainly holding on to cash in case of emergencies but have stopped using it for day-to-day payments.

Assent Expands C-Suite Expertise with New Leadership to Fuel Global Expansion of Supply Chain Sustainability Platform

Retrieved on:

Tuesday, November 7, 2023

Assent Inc. (Assent), a leading solution provider in supply chain sustainability management, is fueling its rapid growth plans with the addition of Andrew Holyome as chief information officer and Tanya Weston as general counsel.

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Assent Inc. (Assent), a leading solution provider in supply chain sustainability management, is fueling its rapid growth plans with the addition of Andrew Holyome as chief information officer and Tanya Weston as general counsel.
View the full release here: https://www.businesswire.com/news/home/20231107048986/en/
Assent Inc. (Assent), a leading solution provider in supply chain sustainability management, is fueling its rapid growth plans with the addition of Andrew Holyome as chief information officer and Tanya Weston as general counsel.
Before joining Assent in 2021, Andrew held pivotal technology and program leadership roles at Payments Canada, IBM, MD Financial Management, and Pythian.
“Assent works hand-in-hand with manufacturers on their journey to enhance supply chain sustainability programs, and we are proud to have the expertise in place to continue to strengthen our market leadership.”

Coalition of leading industry stakeholders voice continued support for vital Canadian Payments Act amendments

Retrieved on:

Wednesday, October 11, 2023

Expanded membership eligibility is essential to broaden safe access and participation on Payments Canada's infrastructure. By broadening access to include payment service providers, credit union locals, and operators of financial market infrastructures that meet regulatory and legislative requirements, the Government of Canada will foster competition and innovation and help ensure the future of digital payments happens within -- and not outside -- the regulatory system.

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OTTAWA, ON, Oct. 11, 2023 /CNW/ - Leaders across Canada's payments industry continue to demonstrate unified support for amendments to the Canadian Payments Act to expand Payments Canada's membership.
"Payments are changing at an unprecedented rate," said Tracey Black, President and Chief Executive Officer of Payments Canada.
Interac supports updating the Canadian Payments Act to enable broadened participation in national payments infrastructure and will continue to work with industry stakeholders to advance opportunities for increased access on our network and products."
The amendments to the Canadian Payments Act are long overdue and necessary to enable non-bank access to the payment system.

Canada reaches $11.7 trillion in payment transactions in 2022 - up 7% in value from 2021

Retrieved on:

Thursday, October 5, 2023

Online, Transfer, Lynx, Parent, Fad, EFT, Payment, RTR, ISO 20022, Interac e-Transfer, Interac, ISO, Growth, ABM, Payments Canada, BNPL, Sale, Bank, Cryptocurrency, Online shopping, Financial services, Credit

Almost 9 in 10 (89%) Canadians tapped a payment card at least once a month for a store purchase in 2022.

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Almost 9 in 10 (89%) Canadians tapped a payment card at least once a month for a store purchase in 2022.
Online transfer continued to be the fastest-growing payment type with year-over-year volume growth of 11% and value growth of 19% from 2021.
While total payment volume declined by 2% compared to five years ago, total payment value increased by 21% during this same period.
The ISO 20022 message standard supports data-rich payments - more information about the payment traveling with the payment.

Canada-Based Fintech Companies Can Compete For $300,000 Cash In The Second Annual Digital Commerce Calgary Fintech Award

Retrieved on:

Wednesday, May 24, 2023

Fintech, Open Network for Digital Commerce, Interac, AB, Payments Canada, Mastercard, Ideation, Bank, Ecosystem, API, Digital, Video game, Cryptocurrency, Online shopping, Consumer electronics

CALGARY, AB, May 24, 2023 /CNW/ - The second annual Digital Commerce Calgary Fintech Award presented by Digital Commerce Bank and Platform Calgary is expanding across Canada.

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CALGARY, AB, May 24, 2023 /CNW/ - The second annual Digital Commerce Calgary Fintech Award presented by Digital Commerce Bank and Platform Calgary is expanding across Canada.
The Digital Commerce Calgary Fintech Award provides participants with invaluable coaching, guidance from industry experts, and the chance to compete for three non-dilutive cash prizes, amounting to over $300,000.
By opening up the Digital Commerce Calgary Fintech Award to fintech startups across Canada, we're helping connect startups nationally and showcasing what Calgary has to offer to scaling fintech companies.
For more information about Platform Calgary, visit: PlatformCalgary.com
For further information on the Digital Commerce Calgary Fintech Award, please contact:

Canadian gig workers frustrated with how and when they get paid through online platforms and mobile apps despite 51% who depend on them for gig income, reveals new Payments Canada study

Retrieved on:

Wednesday, May 3, 2023

This points to an opportunity to evolve future payment systems for gig workers, including through digital gig platforms.

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This points to an opportunity to evolve future payment systems for gig workers, including through digital gig platforms.
Around half (51%) of gig workers have used online platforms or mobile apps to find work: Gig platforms or applications (apps) through which workers source work and coordinate payment include Clickworker, Crowdsource, Fiverr, Uber, TaskRabbit and Etsy.
Gig workers have frustrations when it comes to gig platforms and apps, despite high usage: More than half of Canadian gig workers use online platforms or mobile apps for gig work; however, the gig workforce are divided in their sentiment toward digital gig platforms and mobile apps.
Disconnect between how gig workers are getting paid and how they want to get paid: Interac e-Transfer is the leading method used for gig workers to get paid (43%).

Payments Summit 2023 and U.S. Payments Forum Meeting Unites Industry to Explore Digital Payment Surge, Fraud Shifts, BNPL, Crypto Concerns and More

Retrieved on:

Tuesday, April 4, 2023

While the U.S. Payments Forum Meeting is closed to non-members, The Payments Summit is open to the public.

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While the U.S. Payments Forum Meeting is closed to non-members, The Payments Summit is open to the public.
Bad actors are gaining access to valuable rewards accounts, crypto wallets and more to utilize loyalty perks and funds.
That’s according to data from the Amex Trendex: Digital Payment Edition shared during the U.S. Payment Forum’s meeting.
Over the course of the Payments Summit, the industry weighed the impacts and potential risks of digital currencies on a broad scale.

Scotiabank Lays Foundation for Data-Rich Payments across Global Footprint

Retrieved on:

Tuesday, March 21, 2023

Transfer, Canada, European Central Bank, Society, ISO, Central bank, April Parker Jones, Interac, Payments Canada, Investment, Interac e-Transfer, Commerce, SVP, Scotiabank, Bank, SWIFT

The SWIFT (Society for Worldwide Interbank Financial Telecommunication) system migration upgrade allows Scotiabank the ability to process ISO 20022 wire payments for clients throughout its global footprint across 26 markets in North America, Latin America, Caribbean, Europe, and Asia Pacific.

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The SWIFT (Society for Worldwide Interbank Financial Telecommunication) system migration upgrade allows Scotiabank the ability to process ISO 20022 wire payments for clients throughout its global footprint across 26 markets in North America, Latin America, Caribbean, Europe, and Asia Pacific.
SWIFT has led the global migration to ISO 20022 for wire payments, an upgrade that enables payments to become borderless and context-rich.
"This is another in a series of investments in our payments platform, designed to improve customer experiences," said Matthew Parker-Jones, SVP, Products and Operations, Global Business Payments at Scotiabank.
Bringing ISO 20022 to the global financial community is a giant leap forward in modernizing payments – made possible by strong industry collaboration with Payments Canada, SWIFT, European Central Bank, and other global payments partners.