Industry News

WASHINGTON, DC—There is both bad and good news in the latest Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25). It showed that the overall new business volume for the American equipment finance sector in September 2020 was $8.7 billion, down 13 percent year-over-year from new business …

BROOKFIELD, WI–According to the 2020 Fraud and Security Survey, released by Fiserv, 79 percent of U.S. consumers say that cybersecurity is equally or more concerning that it was for them a year ago. Cybersecurity concerns remain as consumers increasingly adopt digital payment methods that facilitate touchless interactions, yet which often …

AMSTERDAM, NL and LONDON, UK–Silverflow, a global payment technology company, has announced a €2.6 million ($4 million CAD) seed funding round. It was led by UK-based seed-stage investor Crane Venture Partners with participation from INKEF Capital and angel investors and industry leaders from Pay.On, First Data, Booking.com, and Adyen. With …

TORONTO, ON–Versapay Corporation has completed a merger with payment services provider Solupay, which will further strengthen its AR automation and integrated B2B payments offerings. The combined company will operate under the Versapay name and under the leadership of Craig O’Neill, current CEO of Versapay. Financial terms of the private transaction …

WASHINGTON, DC–The Equipment Leasing & Finance Foundation has released the Q4 2020 Equipment Leasing & Finance Industry Snapshot, an indispensable resource for industry participants in the midst of the COVID-19 pandemic. Designed for use in executive briefings and presentations, the presentation slide deck summarizes the current conditions and projections for …

WASHINGTON, DC–The Equipment Leasing & Finance Foundation (the Foundation) has released the October 2020 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $900 billion equipment …

TORONTO, ON–Cambridge Global Payments has partnered with Ripple to deliver cross-border payment solutions to business-to-business (B2B) customers, using RippleNet, Ripple’s global payments network. This partnership will be of particular importance to small-midsized enterprises (SMEs). Traditional global payments systems currently involve many intermediaries, which can slow down payments and increase the …

OTTAWA, ON–Payments Canada has released survey results from Canadian small business owners, identifying payment pain points, needs, and trends. These findings include: Almost 50 percent of small merchants believe Canadian stores will become cashless in the next ten years, of which the majority are unconcerned; Close to 1 in 4 …

TORONTO, ON–Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired JM Rose Insurance Agency Limited, d/b/a usefulideas® (usefulideas®). Terms of the transaction were not disclosed. Headquartered in Toronto, Ontario, Canada, usefulideas® is a full-service business consultancy, employee benefits and group retirement firm. Joanne Rose, …

“Issuing premium credits is the fastest way to give group customers immediate relief”: Macoun WINNIPEG, MB–The Canada Life Assurance Company is cutting group health insurance premiums for its employer-sponsored group benefits plans to support Canadians and small- and medium-sized businesses facing hardship as a result of the global COVID-19 outbreak. …