Payments Business May-June 2019

By Wally Vogel You have probably heard all the blockchain hype and are wondering when or if it will actually play a role in your day-to-day business. Blockchain has often been described as a solution looking for a problem. As a result, you may have seen guides to help decide …

By Patrick Diab The hospitality industry is undergoing significant changes as consumer tastes evolve, and savvy competitors enter the market with creative and digital ways to serve customers. Statistics from 2018 estimate that accommodation and food services generate over $110 billion in revenue per year for the Canadian economy1. Recent …

By Monica Eaton-Cardone The J.P. Morgan Chase blockchain-based Interbank Information Network (IIN)’s launch of the JPM Coin digital currency has sparked renewed international interest in both cryptocurrency and blockchain. The company recently announced that 220 banks have signed on to IIN, a major development that will impact payments and other …

By Toby Holmes The irreversible decline of mass transit has been predicted so often, it’s surprising (and welcome) to hear some positive news about the sector. But non-private-vehicle transportation is having a renaissance. This is partly driven by the rise in popularity of rideshare apps across North America (and more …

By Andrew Monroe When you’re selling products online, your ideal customer may come from anywhere in the world, not just from North America. Maximizing those international sales and revenue opportunities means giving that customer a localized payment experience, regardless of regional currency differences and linguistic barriers. Companies that do this …

By Daniel Krisch With more than 8,100 hotels operating in Canada today, hotel managers face a critical task in balancing the dynamic between providing a highly personalized guest experience for customers and offering them an array of self-service tools for an easier and more comfortable individual hotel experience. Self-service applications …

By Alastair Johnson The federal government’s Budget 2019 included a proposal for an oversight framework to ensure that “retail payment services providers can continue to offer innovation in services, while remaining reliable and safe”. What’s interesting is that this declaration was not followed by any statement regarding the use of …

INTERVIEW By Brendan Read Canada and the United States have long been deeply connected financially with each other through trade, including investments, tourism and individual migration for work, education and also visits, like for shopping and for retirement. Canadians make and receive payments while in the U.S., and from and …

By Oscar Roque Many view blockchain as a disruptor. But here at Interac we see it as an enabler. To date, our journey has been an exciting one—exploring and experimenting with blockchain technology—while applying it to new use-cases and problem sets. With over three decades of building payments ubiquity in …

Millions of passengers need effective payment methods, often buying immediately on boarding By Brendan Read The British Columbia Ferry Service (BC Ferries) is one of arguably Canada’s best known and patronized transportation companies and one of the world’s largest ferry operators. Its highly varied fleet of 35 vessels operate safely …