Payments Canada welcomes inclusion of the Retail Payments Oversight Framework
OTTAWA, ON–Payments Canada applauds the inclusion of the Retail Payments Oversight Framework (RPOF), and its oversight by the Bank of Canada, as part of the 2021 federal budget, A Recovery Plan for Jobs, Growth and Resilience. “The implementation of the Retail Payments Oversight Framework is a welcome addition to Canada’s …
Consumer demand for improved digital purchase transparency is on the rise
TORONTO, ON–The way that consumers shop, pay and bank is changing dramatically. Accelerated by the COVID-19 pandemic, consumers are adopting new digital habits at a faster pace than ever before. In the first two months of the pandemic alone, global ecommerce spending surged by USD $53 Billion and consumers came …
Will payment methods be a way Canadians use to track their spending more accurately?
By Lorenzo Pellegrino As Paysafe discovered when we surveyed consumers in April, COVID-19 and the social distancing measures Canada and other countries have put into place to combat the virus have impacted when, where, and, arguably most importantly, how they are spending money. The shift to eCommerce is one clear …
Scotiabank 1st to Offer Real-Time Payments in Canada through Interac e-Transfer for Business
Business service allows the ability to send & receive real-time payments using a recipient’s account number or email address TORONTO, ON–Scotiabank is the 1st financial institution in Canada to offer real-time payments for all business banking customers using flexible routing options like an account number or email address, using Interac …
Nuvei to Acquire Base Commerce
MONTREAL, QC–Nuvei has entered into a purchase agreement to acquire substantially all of the assets of Base Commerce, a leading provider of integrated payment solutions. The transaction is expected to close on or about December 31, 2020, subject to customary closing conditions. Founded in 2008, Base is a technology-driven payment …
Forter, FreedomPay Partner to Fight Fraud, False Declines
NEW YORK, NY—Forter has partnered with FreedomPay to establish what may be the first joint network for online merchants and banks to instantaneously block fraud and enable legitimate consumers to operate freely. The partnership aims to address a major issue where multiple players (online merchants, credit card issuers, and banks) …
COVID-19 accelerating the move to digital payments across Canada
Interac shopping data shows spike in consumers and businesses choosing digital payments as economy begins to reopen TORONTO, ON–According to new data released by Interac Corp., payment transaction records show that today, more than ever, Canadian consumers and businesses are adopting digital methods to spend, send and receive money. A …
Desjardins increases contactless payment limit on Desjardins terminals for firm’s cardholders
COVID-19 response MONTREAL QC–In response to the government’s recommendations, Desjardins Group has adopted a number of preventive measures to help limit the spread of coronavirus. Starting Friday, March 20, Desjardins will increase its contactless payment limit on Desjardins POS terminals from $100 to $250. Desjardins credit cardholders can take advantage …
Desjardins Group’s forms Strategic partnership with Global Payments
MONTREAL–Desjardins has signed a long-term partnership with Global Payments, a leading worldwide provider of payment technology and software solutions. This partnership means that Global Payments will be acquiring Desjardins’ entire merchant portfolio, currently housed under the Monetico brand. Starting in March 2020, Desjardins’ equipment will be replaced with Global Payments’ …