Nov-Dec 2018 Issue

Small businesses’ payments modernization growing pains

By Dan Kelly The way Canadians make and accept payments is changing quickly. From Apple Pay to Square, PayPal or Interac e-Transfer, the choices are growing. Moving away from cheques Yet business to business (B2B) transactions for smaller firms are still dominated by paper invoices and cheques in the mail. …

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Nov-Dec 2018 Issue

How banks can maximize loyalty/rewards programmes

By Kathryn Argiriou In Canada and globally financial institutions have always operated in an environment of rapid change and uncertainty. New and evolving banking models are being driven by changing consumer needs, increased regulation, new types of competitors and innovations in technology. More specifically, players within this space are facing …

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Nov-Dec 2018 Issue

Growing the prepaid market

By Peter Read We all know prepaid solutions as innovative tools that encourage financial inclusion, help combat consumer debt, replace costly cheques and tackle hassles in business payment systems. But what may have begun as a niche set of products that fills a gap in the current payments system has …

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Nov-Dec 2018 Issue

Battling CNP fraudsters

By David Andre Card not present (CNP) fraud is on the rise. According to one study of CNP fraud in Canada, it increased 205 per cent between 2010 and 2015 and accounted for 76 per cent of all fraud in 20151. Unfortunately, it could become an even bigger challenge in …

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Nov-Dec 2018 Issue

How disruptors are wooing market share

By Mike Gardner Payments used to be one of the industry’s least vulnerable to disruption, but it is now facing transformative reshuffling, with new digital entrants and changes in consumer behaviour. Those in the merchant acquiring business that are counting on organic growth from existing markets are feeling the pinch. …

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Nov-Dec 2018 Issue

The evolution of infrastructure, technology and cryptocurrency

By Daniil Saiko The way money exchanges hands is a constantly evolving process. As a result, the payments landscape will continue to transform the way companies and retailers do business. But as traditional forms of payment are increasingly replaced by digital options, payment systems are becoming progressively more complex, involving …

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Nov-Dec 2018 Issue

The transformation of global transfers

By Felipe Buckup In my global money movement career, I have seen the landscape transform immensely. The market of today is a dynamic ecosystem, with new players, new integrated models and new ways of doing business. Most of this transformation can be attributed to the changing demands of digital-driven customers …

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Nov-Dec 2018 Issue

AI in banking: navigating the road ahead

By Elina Mattila Canada’s financial services industry has long been a leader in applying artificial intelligence (AI) technology. The Royal Bank of Canada, for example, is investing tens of millions of dollars over the coming years to investigate how AI can be successfully transferred to the banking industry1. Despite the …

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Nov-Dec 2018 Issue

Follow (and serve) the consumer

By Steve Doswell The key to understanding the landscape of payments is to observe the customer attractions and motivations. From convenience to speed to security, market needs will always drive innovation and advancement. Following closely to the over-arching trends of consumerism, payment developments have continued to skew towards online and …

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Nov-Dec 2018 Issue

Adapting to a changing landscape

By Cyrielle Chiron In fall 2018 I had the pleasure of speaking about global payments trends across Canada and the U.S., sharing insights from RFi Group’s very latest global studies. While every country is unique and has different trends impacting their payments ecosystem, being able to adapt to a changing …

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