Industry News

OTTAWA, ON–Evolving technology and payments innovation continues to transform the way Canadian consumers and businesses make payments, according to new data from Payments Canada’s just-released annual Canadian Payments: Methods and Trends report. In pursuit of more convenient, faster and secure payment experiences, Canadians continue to adopt new and evolving digital …

VANCOUVER, BC–Mogo will be acquiring Carta Worldwide in an all-stock transaction that promises to accelerate Mogo’s transformation from a company that has been focused on consumer-empowering applications to a broader digital wallet and business-to-business (B2B) payments technology enterprise. The combination will create one of Canada’s largest vertically integrated FinTech companies …

HAMPSHIRE, UK–A new study from Juniper Research has found that transaction values for physical goods sales online will grow from USD3.3 trillion in 2020 to USD4.4 trillion by 2025, with this 33 percent growth hastened by the COVID-19 pandemic. The pandemic has fundamentally altered customer behaviours towards eCommerce, with these …

PURCHASE, NY–Mastercard continues to deliver on its multi-rail payments strategy with the addition of account-to-account (A2A) payments functionality to its business-to-business (B2B) Mastercard Track Business Payment Service. This launch represents the next phase in Mastercard’s journey to modernize business payments by solving persistent pain points that buyers and suppliers experience …

Toronto, ON–Staples Canada has launched a new financing solution in time for the holiday season, in collaboration with Flexiti Financial. With the new Staples Card, cardholders have access to flexible zero percent interest (OAC, terms and conditions apply) financing plans to help make their purchases for home, school and business …

MOUNTAIN VIEW, CA–Rapyd has launched Rapyd Protect, a fraud solution that has been designed to protect businesses and consumers against fraud across countries and payment methods. With the growing use of alternative payment methods (APMs) globally, Rapyd Protect provides a smart defence against global fraud while empowering merchants to confidently …

TORONTO, ON–Canada’s current web of payroll requirements is costly and complex, and without changes, the Canadian economy will struggle to recover from the worst economic downturn in nearly a century. Payroll in Focus: The cost of employer compliance and public policy implications, a new report from PwC Canada indicates that …

OTTAWA, ON–Payments Canada has selected Mastercard’s Vocalink as the clearing and settlement solution provider for the country’s new real-time payments system, the Real-Time Rail (RTR). This announcement follows an extensive procurement process that included the Bank of Canada and the Department of Finance. The partnership will draw on Mastercard’s expertise, …

TORONTO, ON–Interac Corp. is now 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 …

HAMPSHIRE, UK–A new study from Juniper Research has found that the total transaction value of smart home payments, i.e. payments that occur via smart home devices, is expected to exceed USD164 billion in 2025: a dramatic over sevenfold increase from USD 22billion in 2020. Increasing use of voice assistants via …