Crypto protection firm Coincover says it will now work with two of Canada’s crypto trading platforms, VirgoCX and Netcoins. The goal is to provide best-in-class security for customer assets. Coincover says its solution will also help VirgoCX and Netcoins exceed regulatory requirements in Canada. Digby… Read More
Read more in: Canada, Blockchain & Digital Assets | Tagged coincover, netcoins, virgocx
Paystand, the global enabler of blockchain-enabled B2B payments, announced its zero-fee B2B network is expanding to Canada. While Paystand first introduced limited service in Canada in 2018, Canadian payers will now be able to “access all the benefits of the Paystand Platform and the Zero-Fee… Read More
Read more in: Global, Blockchain & Digital Assets, Canada, Fintech | Tagged b2b, payments, paystand
The Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) have issued a statement “reminding” crypto trading platforms must comply with Canadian securities laws by registering as investment dealers and having membership with CIRO. The CSA noted that it contemplated an interim approach,… Read More
Read more in: Canada, Blockchain & Digital Assets, Featured Headlines | Tagged canadian securities administrators, ciro, crypto exchanges, csa
More than one in 10 Canadians have experienced payment fraud in the past six months, indicating similar year-over-year patterns (13 per cent in 2024 compared to 14 per cent in 2023), according to a new study from Payments Canada. For many Canadians, concern around fraud… Read More
Read more in: Fintech, Canada | Tagged canada, fraud, payments, research
Global small business platform, Xero, released its quarterly Xero Small Business Insights (XSBI) report for Canada, based on data from January to March 2024. The update showed incremental “improvements for the sector across sales growth, late payments and time-to-paid metrics, a signal that Canada‘s small… Read More
Read more in: Canada, Fintech | Tagged canada, data, insights, research, small businesses
Payments Canada is pleased to announce the election of Matthew Parker-Jones and Kevan Cowan to its Board of Directors. Payments Canada confirmed that Matthew will serve as a Member Director and Kevan as an Independent Director on the board. Payments Canada further noted that Matthew… Read More
Read more in: Fintech, Canada, General News | Tagged canada, new appointments, payments, payments canada
Canada’s financial regulator announced on Friday that it will delay the implementation of new rules requiring banks to change how they calculate lending risks, a move intended to give the country’s banks more time to adapt, Bloomberg has reported. The Office of the Superintendent of… Read More
Read more in: Politics, Legal & Regulation, Canada | Tagged banks, basel III, canada, lending, Office of the Superintendent of Financial Institutions
Although interest rates and inflation have started to trend downward, many bank customers in Canada are still feeling the economic squeeze and the majority of them express interest in receiving financial advice from their bank, according to the J.D. Power 2024 Canada Retail Banking Advice… Read More
Read more in: Fintech, Canada | Tagged banking, canada, inflation, interest rates, research
The Payments Canada Board of Directors announced the appointment of Susan Hawkins to President and CEO of Payments Canada, effective August 12, 2024. Garry Foster, Chair of the Payments Canada Board of Directors said: “We are thrilled to appoint Susan Hawkins to lead Payments Canada… Read More
Read more in: Canada, Fintech, General News | Tagged new appointments, payments, payments canada, susan hawkins, women changing finance
As Canada continues to welcome significant numbers of immigrants this year, Royal Bank of Canada (RBC) is committed to being their bank of choice by creating tools and resources designed to improve newcomer arrival experiences. RBC is announcing the launch of Global Credit Connect with… Read More
Read more in: Canada, Fintech | Tagged canada, financial services, rbc, royal bank of canada
Lisa Sattler, Director of Policy and Government Relations at Payments Canada, is pleased to share that the proposed changes to the Canadian Payments Act (CP Act) in order “to expand Payments Canada’s membership have received Royal Assent, the final step required for a bill to… Read More
Read more in: Canada, Fintech, Politics, Legal & Regulation | Tagged canadian payments act, lisa sattler, payments, payments canada
The Bank for International Settlements (BIS) and the Bank of Canada launched the Toronto Innovation Centre, the first such centre to be established in the Americas and the seventh to be opened by the BIS in collaboration with partner central banks around the world. The… Read More
Read more in: Fintech, Canada, Global | Tagged bank for international settlements, bank of canada, bis
Visa Inc. (NYSE: V) announced the relaunch of Visa SavingsEdge, aimed at delivering greater value to small businesses (SMBs) across the United States and Canada. For more than a decade, Visa SavingsEdge has provided “eligible Small Business cardholders with the savings, tools and resources to… Read More
CIBC announced it is the first major financial institution to launch a bundled digital credit card and deposit account application for those new to Canada, making it faster and more convenient for these clients to make key banking decisions sooner. Michael Clabby, Executive Vice-President, Head… Read More
Read more in: Canada, Fintech | Tagged banking, canada, cibc, credit cards
Payments Canada is pleased to welcome Paula Dunlop as the new Vice President, Policy, Government Relations and Research. In this role, Paula will be expected to “oversee these three important functions at Payments Canada that influence and enhance their work with key stakeholders and across… Read More
Read more in: Canada, Fintech | Tagged canada, digital payments, paula dunlop, payments canada, women changing finance
Contactless payments acceptance technology makes it easier for Canadian businesses to get started and create new ways to sell. Square has recently launched Tap to Pay on iPhone in Canada, allowing Square sellers to be among the first businesses in the country to try the… Read More
Read more in: Fintech, Canada | Tagged iphone, square, tap to pay
FINTRAC announced that it has imposed an administrative monetary penalty on Binance Holdings Limited, also operating as Binance Holdings (IE) Ltd., Binance.com, Binance Global and Binance. This foreign money services business was “imposed an administrative monetary penalty of $6,002,000 on May 7, 2024 for non-compliance… Read More
Read more in: Blockchain & Digital Assets, Canada, Politics, Legal & Regulation | Tagged binance, canada, FINTRAC, penalty
Recent pilot conversion to completely digital cloud-based core banking platform is next step in digital transformation for Atlantic credit unions. A first for the Canadian financial industry, League Data, the CIO and technology partner for Atlantic credit unions, announced that they have successfully converted Brunswick… Read More
Read more in: Fintech, Canada, Global | Tagged cloud banking, digital financial services, fintech adoption, mambu
Xero, the global small business platform, released its latest Xero Small Business Insights (XSBI) quarterly update for Canada, based on data from October to December 2023. The data showed that Canada’s small business sales decline “may be levelling off, which is an encouraging signal for… Read More
Read more in: Global, Canada, General News | Tagged canada, research, small businesses, smbs
Payments Canada has announced a new system to speed up the payments and transfer process in Canada. Real-Time Rail (RTR) seeks to enable 24/7/365 value transfer in real-time. Payments Canada is a “public purpose organization” that operates the Canadian payments system. In 2023, Payments Canada… Read More
Read more in: Canada, Fintech | Tagged fintechs canada, payments, payments canada, real time rail, redcompass labs, rtr
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