Payments Canada has admitted five new payment service provider (PSP) members—Wise, Float, KOHO, Paramount Commerce, and Brim—marking another step in opening Canada’s core payments infrastructure to fintechs ahead of the launch of the Real-Time Rail (RTR). [Read more…] about Brim, Float, Koho, Paramount, and Wise Join Payments Canada
Payments Canada
Open Banking in Canada is Closer Than Ever as Retail Payments Act Advances
The Bank of Canada this month unveiled the initial selection of registered payment service providers.
These service providers—300 so far and counting—will gain access to key financial infrastructure such as real-time payment rails for simpler money transfers through Payments Canada via an open banking framework when it finally launches. [Read more…] about Open Banking in Canada is Closer Than Ever as Retail Payments Act Advances
Dye & Durham Modernizes Bill Payments with Automated Error Correction Tool
Dye & Durham has announced the launch of an automated error correction feature within its CANACT BillPay platform, a first-of-its-kind advancement that addresses persistent inefficiencies in Canada’s bill payment infrastructure. [Read more…] about Dye & Durham Modernizes Bill Payments with Automated Error Correction Tool
When It Comes to Moving Money Online, Fraud Remains a Concern for Canadians
Nearly 15% of Canadians have experienced payment fraud in just the past six months, new data suggests, prompting concern about the risk of cyber finance. [Read more…] about When It Comes to Moving Money Online, Fraud Remains a Concern for Canadians
Susan Hawkins Appointed New President and CEO of Payments Canada
Payments Canada has a new President and CEO and it is a familiar face. [Read more…] about Susan Hawkins Appointed New President and CEO of Payments Canada
Seven Fintechs Innovating the Payments Space in Canada
“Hold on, I think I’ve got another penny in one of these pockets…”
It was only a couple of decades ago where paying with paper (not even polymer!) and metal coinage was the go-to. A common alternative, hardly touched today outside of legacy business, was the classic cheque. Cash registers for point-of-sale transactions were hefty, clunky blocks. Only fancy business folk had credit cards and even then used them sparingly. [Read more…] about Seven Fintechs Innovating the Payments Space in Canada
Canada Looks to Eradicate Legacy Payment Systems by Building the Real-Time Rail
The global digital economy is fast-paced and competitive—in certain areas perhaps more so than ever.
The payments industry is one such example, where evolution is rapid and constant, from both technology and policy standpoints: across the board—and the globe—significant disruption is occurring. [Read more…] about Canada Looks to Eradicate Legacy Payment Systems by Building the Real-Time Rail