Rojin Nair, Advisor
June 1st, 2021
At Incyub8 Inc, Rojin is focusing on nurturing and guiding various national and international start-[...]
Category Archives: Payments, Transfers, Rewards
Stablecorp and Balance Partner to Enable Individuals and Businesses to Access Secure Blockchain Treasury Management Solutions
Stablecorp | Release | Nov 22, 2022
Grapes Finance enables individuals and businesses to access blockchain-powered treasury management solutions, now including cost-effective custody in the user's legal title, provided by Balance
- Stablecorp and Balance, two leading blockchain financial service providers, today announced a partnership which allows users of Stablecorp's treasury management platform, Grapes Finance, to seamlessly access Balance's institutional grade custody solution, Balance Custody.
- Grapes offers its users a powerful platform for treasury management which provides access to foreign exchange and global payments systems in digital assets and fiat currencies and select access to yield and credit products via an integrated portal built on blockchain rails enabling enhanced transparency and control.
- Through this partnership, Grapes Finance users can now seamlessly onboard with Balance Custody and establish digital wallets in their own name while retaining control over these wallets through Grapes Finance's front end.
See: Crypto Payments Report 2022: How digital currencies are revolutionizing commerce, corporates and culture
- Pilot User: As an early adopter in the space, law firm Wildeboer Dellelce LLP has opened a Grapes Finance account and enabled integration with Balance Custody, empowering them to accept payments for legal services in select digital assets.
- These payments settle directly into the firm's wallet, secured by Balance's SOC 2 certified infrastructure, and can be held natively as digital assets or converted into fiat through Grapes' fiat offramp engines.
Alex McDougall, CEO of Stablecorp:
We believe this partnership ushers in a new standard for custody for both individual and small to medium-sized business users that is desperately needed in the market. Currently, opaque commingled arrangements, complicated self-custody, or high monthly minimums for dedicated custody infrastructure are the only options available. Having access to zero monthly minimums, retaining full legal title, and having one-click access to treasury management functionality as offered through this partnership will be a complete game changer for these users, and more broadly, for the entire industry. While 'not your keys, not your crypto' might not be realistic to achieve in onboarding the next generation of scaled digital asset users, 'not your legal title, not your crypto' most certainly is.
See: SWIFT Partners With Chainlink to Help Bridge TradFi Institutions with Digital Assets
George Bordianu, CEO of Balance:
Traditionally, end-user assets are held at the custodian in the name of an intermediary such as a broker-dealer. Users do not retain the legal title, nor can they directly access their assets independent of such intermediaries. There's no reason to keep doing that in this day and age. We're extremely excited to introduce this new model in partnership with Stablecorp, and to enable Wildeboer Dellelce and hopefully many others to take direct ownership and control over their digital assets.
Continue to view the original release --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Best Online Payment Processors For Small Business In 2022
November 22, 2022
Image: Pexels/Andrea Piacquadio
The global epidemic has had a significant impact on how people purchase. To overcome this challenge, most brick-and-mortar firms have closed or turned to internet business platforms. According to eCommerce data in the EU, approximately 80% of people are making their purchases online. As a result, newcomers to the market sometimes ask, "What is the best payment option for small businesses at this time?"
Surely, as you read this article, you are looking for a better payment system for yourself. A payment processor is a third-party platform that provides retailers to take credit card payments from consumers online or in-person in a safe manner. The finest payment gateway offers secure and dependable service, excellent customer service, and low transaction fees.
The greatest online payment processors for small businesses in 2022 are listed below. Also, if you're looking to start a business here, we recommend the best LLC service.
1. PayPal
One of the most extensively used online payment services is PayPal(opens in new tab). It was founded in 1998 as Cofinity and allowed you to send and receive payments from anywhere.
PayPal is a payment processing service that helps e-commerce companies, auction sites, and other business entities to accept credit cards from all over the world, including American Express and Visa. It also has a simple shopping cart, several customization possibilities, online invoicing, and the ability to accept credit card payments over the phone.
2. Worldpay
Worldpay is an excellent example if you're looking for the best payment processor for small businesses. To integrate this payment gateway with your website, you should utilize the Worldpay payment extension. To be more specific, adopting a Worldpay extension is a smart option because it saves a lot of money and has a lot of pre-programmed functionality for your company's future needs.
It provides an online payment processor as well as a merchant account for online transactions. For added convenience, the gateway is linked to a variety of websites. It is capable of dealing effectively with fraud and cybercrime. For international transactions, a variety of currencies and languages are available.
3. Helcim
For retailers with high-volume sales or stocks, Helcim is also our best payment platform. It has a payment gateway API that enables real-time card payment authorization, data capture, management of voids and refunds, and recurring payments, among other things. It's simple to set up, so you can integrate it with any current website, shopping cart, or accounting system and begin receiving payments immediately.
Its volume-based pricing approach provides lower rates and automatic savings as your business grows, making it a superb bargain for companies that process more than $25,000 per month. Furthermore, it is great for stores that require free tools like a POS, a customer portal, and eCommerce.
4. Stripe
Stripe is yet another sophisticated payment platform developed for online businesses, boasting of managing billions of dollars in transactions each year. The primary distinction between this service & many others is that it is not a ready-made solution. Instead, you'll be given a set of customizable tools to create your payment processes.
It's geared toward larger businesses and has a slew of APIs that help you build your subscription services, on-demand markets, and crowdfunding platforms. Ruby, Python, PHP, and Java are among the development languages supported.
5. Square
Square is a favorite of Fit Small Business experts. It provides its online payment facilities for free as a payment gateway. It has shareable links and "Buy Now" buttons that are simple to use, and its virtual terminal has all of the functionality you'd expect from a more complex solution like Stripe. With a Square dock, you can connect Square's mobile card reader to your PC and accept keyed-in, tap, and chip payments.
See: Elon’s Vision for a Twitter Payment System (and then Super App)
It's also a top-rated merchant service, so it's no surprise that it gets excellent marks for payment gateways. It is compatible with mobile, desktop, tablet, & point-of-sale systems.
Conclusion
After the Covid epidemic, eCommerce has grown in popularity like never before. People prefer internet shopping because they believe it is a safer approach to making purchases. As a result, the internet market has become more competitive, and there is a new demand for payment services, which has led to the development of payment gateways.
Many criteria go into finding the best payment processor for a small business, and understanding them will help small business owners make better decisions for their own companies. There are numerous payment gateway providers on the market; nevertheless, the list above will undoubtedly supply you with appropriate and highly recommended payment systems from previous online merchants.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Payment Technology Solutions for Online Casinos
Guest Post | Nov 18, 2022
Image: Unsplash/Dmitry Demidko
The popularity of casinos brings many questions to the table. Most of them are concerned with the overall security of all the platforms and their accessibility. One of the best features of online gambling websites is the opportunity to offer every single person the best possible experience. We all have specific preferences when it comes to payment solutions. Some still prefer using old-fashioned credit cards, while others transfer easily to the market of cryptocurrency. Depending on your choice of solution, you must find the best available platform. At this platform, you need to ensure that there is a wide variety of digital wallets and traditional banking options to satisfy your needs. We selected the best payment solutions for customers and developers alike.
Why Payment Solutions Are Crucial
The first answer we wanted to bring up concerns the importance of payment solutions. If you were wondering why they are crucial, we have several reasons. Nevertheless, before we get to the aforementioned reasons, you have to understand that choosing the best payout online casino will only maximize your experience. It might take some time to do proper research, but using the linked website will help you a lot in the search.
Besides, as you will learn, using a proper payment solution can also increase your payouts. Now without further ado, here are some reasons we all need to use appropriate payment solutions:
- Improve experience
- Maximize profit
- Increase security
- Develop fast payouts
- Decrease stress levels
Overall, there are many reasons why we should all be mindful of the platforms we are choosing. Whether you like poker, card games, electronic sports, or slot machines, your experience will only be better with a proper banking method.
Cryptocurrencies
Cryptocurrency is an umbrella term, but it still can function as a proper payment solution. Interestingly enough, there are many advantages and disadvantages to using cryptocurrency for your gambling activity. First and foremost, the cryptocurrency market is volatile. Therefore, you will have to consider that you may double or lose your profit. Cryptocurrency, in some ways, is just like gambling. However, if you are willing to take risks or get to know this market properly, you will have a chance to increase your payouts and get fast payouts. The majority of cryptocurrency wallets can get you your money within an hour. It is one of the fastest ways to receive your jackpot in this industry. It is also one of the safest options because you’re not directly putting your personal information on the casino platform. Even if you are using the safest casino in Canada or any other country, you must stay cautious.
PayPal
PayPal is one of the best choices for the majority of users. Remember that this particular platform may not be available in every country. Therefore, you still have to research whether you can use PayPal. Most importantly, check whether you can actually withdraw money from PayPal to your bank account or create a PayPal credit card. Besides, PayPal will take longer to process your payment than a normal cryptocurrency wallet. With that being said, it is still one of the safest solutions out there. Like our previous option, you’re not putting your information directly into the gambling database. Therefore, PayPal, one of the most reputable platforms out there, he’s responsible for your money. This is yours if you want to stay on the safe side of things.
Payment Center
Since we are talking more about technologies than actual payment options, we have to mention the payment center. This particular technology is rather new. It was created back in 2013 specifically for the market of online games. It was initially licensed in Europe and spread to the United States and Asia because of its popularity. The company owners guarantee that your money will be protected, and you will easily monitor all the transactions. Even though it is not the most popular technology out there, it is definitely one of our favorites.
Neosurf
Neosurf, at this point, is a classic. It was founded almost 20 years ago for users who preferred to utilize their credit cards but do so through a reputable platform. It is also one of the easiest platforms you can use from our list. Additionally, just Like our previous option, it was specifically developed for the entertainment industry. Therefore, it still remains one of the most reliable solutions you can choose on the market. Finally, customer satisfaction is through the roof, and she will also get access to much faster payouts.
Praxis
Praxis is the lost technology we wanted to discuss with you. It is a platform also partially dedicated to the entertainment industry. It is mostly a European company, and you can use it no matter where you are located or the purpose of the aforementioned usage. Many celebrities and sportsmen appreciate it because the company itself guarantees security and anonymity. We also consider this company to be somewhat of a local business that supports the environment and has headquarters in Ukraine, Spain, and many other European countries. Therefore, if you are not necessarily looking for online casinos in Canada, this can be your option.
Bottom Line
Here you can find several best solutions for online games and fast payouts. The majority of them combine security, the ease of use, and they have an immaculate reputation.
See: Crypto Payments Report 2022: How digital currencies are revolutionizing commerce, corporates and culture
You always have to keep in mind that not every single platform is available in your particular country. So make sure you research all the legal aspects before you start using these platforms. The good news is that Canada has access to almost every popular solution. You also have to consider whether you want to deal with cryptocurrency, traditional credit cards, or a secure digital wallet. Make a wise choice, and don’t forget to play responsibly.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Elon’s Vision for a Twitter Payment System (and then Super App)
TechCrunch | Sarah Perez | Nov 9, 2022
The new Twitter owner suggested that, in the future, users would be able to send money to others on the platform, extract their funds to authenticated bank accounts and, later, perhaps, be offered a high-yield money market account to encourage them to move their cash to Twitter.
- Elon Musk detailed his vision for Twitter’s plan to enter the payments market during a livestreamed meeting with Twitter advertisers, hosted on Twitter Spaces on Wednesday.
- The new remarks followed a report this morning by The New York Times which confirmed Twitter last week had filed registration paperwork that would allow it to process payments. The report cited Twitter’s filing with the Treasury Department’s Financial Crimes Enforcement Network (FinCEN), noting that a business would need to register before it could conduct money transfers, exchange currency or cash checks.
See: Will Elon’s Twitter Innovation Bolster Universal Crypto Adoption
- Musk explained how paid verification, which Twitter is rolling out now with its revamped Twitter Blue subscription, as well as support for a creator ecosystem, could pave the way for a payments system on its platform.
- Paywall Video: The company was recently reported to be working on a “Paywalled Video” feature that would allow creators to charge for access to their content. This suggests Twitter could be moving into a space where it may try to compete more directly with various social media video providers, like TikTok, Instagram Reels, YouTube Shorts and others.
- Creator opportunities: The Washington Post saw mockups of this concept where a tweet with a video could be unlocked for as little as $1.00. It said creators may be able to choose from preset prices, like $1, $2, $5 or $10 when paywalled videos were launched.
- Musk then explained how this payments system could scale, saying that, once users gained a cash balance, Twitter could prompt them to move that money on its platform. It could even make a small donation to users’ accounts to get them started. The move to enter the payments business ties to Musk’s larger plan to turn the social media platform into an “everything app” or “super app” called “X.”
See: Rise of the super app
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- And you can send it anywhere within Twitter.
- Later, the user could move their money out of Twitter by transferring it to an authenticated bank account.
- The next step would be this offer for an extremely compelling money market account where you get an extremely high yield on your balance.
- And then add debit cards, checks and whatnot and…just basically make the system as useful as possible. And the more useful and entertaining it is, the more people will use it
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Support NCFA by Following us on Twitter!Follow @NCFACanada |
5 Fascinating Ways Crypto & Blockchain Can Be Used in Tourism
Guest Post | Nov 10, 2022
From global aviation to cross-border payments, the innovation of blockchain is becoming unstoppable regarding the number of major industries it can be utilized to transform. One of the most promising industries in which blockchain has recently gained ground is tourism.
Annually, the global tourism industry is worth an incredible 1.31 trillion U.S. dollars. It’s predicted that this will surge even higher in 2022 to 1.67 trillion U.S. dollars. It may sound like a lot, but this is far below the value of the global tourism market before the global pandemic outbreak in 2020.
With global travel halted, the tourism industry took an enormous hit that it’s still recovering from. Before the outbreak, the phenomenon of crypto tourism was just starting to take off from 2017 onwards.
Generally, the travel industry is a forward-thinking sector and often more open to new, innovative ideas than other industries. In an attempt to revive the industry back to pre-pandemic levels, many are keen to incorporate cryptocurrency and its numerous benefits into the travel sector.
In this article, we’ll delve into five fascinating ways crypto can be used to overhaul the travel industry and how blockchain can revolutionize tourism.
What’s more, we’ll also be revealing the best way for you to get on board with crypto if you desire.
Now, let’s start exploring the world (of crypto)!
What Is Crypto Tourism?
First, let’s delve deeper into one of the most important topics of this guide. What is crypto tourism, and how does it work?
In the face of rising inflation and economic instability, the realm of blockchain technology and cryptocurrencies has seen enormous growth and expansion in recent years. As a result, crypto is becoming more widely accepted amongst vast swathes of society who have seen the numerous benefits of using it. Amongst these sections of society are tourists and tourist firms.
Business-savvy tourism companies saw the potential in the burgeoning community of crypto enthusiasts. They began to set up organized trips centered around cryptocurrency tourism that ranged from cruise vacations to package holidays. Often, these vacations feature crypto events, lectures, workshops, etc.
So, put simply, cryptocurrency tourism is a term used to define a form of travel service that is designed almost exclusively for people who are passionate and actively engaged in cryptocurrency. Naturally, it’s usually possible to pay for the entire package holiday or excursion entirely in cryptocurrency to make it additionally attractive to crypto enthusiasts.
Crypto tourism is a type of travel service that caters exclusively to cryptocurrency enthusiasts. It frequently entails organizing scheduled travel excursions that may be paid for in digital currency or include bitcoin lectures or lessons as part of the tour.
Amongst the wider crypto community, many travelers are attempting to target highly successful crypto traders or figures who are massively popular in the sphere, such as Vitalik Buterin, for example.
As well as paying for their vacation with cryptocurrency, crypto tourists will often take trips to countries where crypto plays a prominent role in society, such as El Salvador. When it comes to additional purchases such as food, souvenirs, drinks, and plane tickets, the tourism company will often try to ensure everything is able to be bought with digital currencies.
In contrast to conventional tourism, which often centers around fun and relaxation, crypto tourism is often defined by some serious aspects too, such as cryptocurrency conferences, workshops, exhibitions, networking events, and panel discussions.
How Can Blockchain Be Used in the Travel and Tourism Industry?
So, that’s the concept of crypto tourism covered. Now, let’s talk about blockchain. In this section, we’ll delve into four fascinating ways that blockchain can be successfully implemented in the travel and tourism sector to truly take it into the future.
Travel Loyalty Programs for International Travelers
Across the travel industry, it’s common for frequent travelers to be given access to loyalty programs to encourage them to stick with one particular airline or hotel etc. Managing all of these loyalty programs can be a nightmare, but not with blockchain.
Blockchain can make the entire process of creating and managing loyalty programs far more simple and more straightforward. As a result, frequent travelers can seamlessly access their loyalty accounts, stay up to speed with what they’ve earned, and much more.
Travel loyalty programs are also plagued by fraudulent activity. Blockchain can combat this enormously.
Payments That Are Secure and Traceable
And last but not least is one of the most important parts of the travel industry: payments. From hotels to airlines, this is the foundation of survival for vital factors of the travel sector. Despite this, many payment processes in global travel are outdated and tiresome.
Blockchain technology can not only streamline payment processes and facilitate cross-border transactions, but it can also open the gateway for travel companies to take crypto payments in the form of major, well-established cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
Exciting times, right? If you’ve never made crypto payments before, there are two things you need to know. First, do your research and understand what you’re getting into. Second, make sure you buy through a popular and prominent crypto platform. The Bitcoin Up website, for instance, offers free registration and beginner-friendly services.
Identification Services
From passports to verifying travel tickets, the travel and tourism sector places a huge reliance on services for identification. Truth be told, some current processes are really struggling to keep up with demand.
With blockchain, many innovative people are calling for it to be implemented with the potential to one day become the travel industry standard when it comes to identification services. For example, fingerprint scans and retina checkers verified through the blockchain can make things like passports completely obsolete and a thing of the past.
If implemented correctly, many predict that the implementation of blockchain technology could see an end to tedious waiting times at airports, especially in processes such as check-in.
Tracking and Tracing Tourist Luggage
If you’ve ever lost your luggage on vacation, you’ll know how much of a bad experience it can be. The sad reality is that luggage vanishes very regularly. It’s a fact that over 1 million pieces of luggage are lost annually. Why? Well, usually, it’s because of the number of times it needs to change hands on an average journey.
This is where blockchain technology can come in to help. When a tourist’s bag is checked in for international travel, it will often change hands between multiple disconnected firms, making the risk of loss surge. Through the blockchain, baggage tracking data can be seamlessly shared between these firms through a decentralized ledger.
Case Studies of Crypto Tourism in Practice
It all sounds great in theory, right? But it all means nothing until we see it in practice. Luckily, there’s an abundance of case studies of crypto tourism that we can look at to see how it looks in theory.
The first example of a famous crypto travel excursion is the 2017 Coinsbank blockchain cruise. The cruise was a fine blend of fun, relaxation, and crypto education. The travel event was inherently international and attracted crypto enthusiasts from more than 18 different countries.
And it was more than just enthusiasts on board this crypto cruise. It was also attended by experts from some of the biggest names in the crypto industry from the likes of Ledger and Bitcoin.com to Unocoin.
Secondly, were several travel businesses based in New Zealand. These companies provided a way for their crypto-loving clients to pay for travel packages, services, and more with their chosen digital currency.
Thirdly, we’ve also seen crypto travel planned for a range of intentions. For example, some crypto tours have been set up by various platforms to globally promote initial coin offerings (ICO). There’s also crypto-specific lectures, conventions, fairs, and conferences arranged by crypto promoters, blockchain industry figureheads, and similar.
What Kind of People Are Taking Advantage of Crypto Tourism?
Crypto tourism appeals to an enormous spectrum of potential clients. As a previously mentioned example, those who are successful or well-known in the crypto industry and seeking to book exclusive crypto travel packages and pay for them using decentralized currencies are the prime clientele.
However, it’s also increasingly appealing to people who can see the numerous benefits of implementing blockchain and crypto into global travel. And that’s not all.
As we put the 2020 pandemic behind us and more countries began to reopen their borders to global travel, crypto is making a resurgence in the travel industry. For example, it’s estimated that more than 21% of international travelers in the USA intend to pay for upcoming travel services using cryptocurrency.
To Sum Up, Crypto Tourism Is About to Depart to New and Exciting Destinations. But How Do You Get on Board?
And so, to sum up, whilst the number of people participating in crypto tourism may not be huge in the grand scheme of things, it’s growing incredibly fast. As the benefits of blockchain are realized across the travel sector, it will likely become even more widely accepted, and the price of blockchain-based cryptocurrencies like Bitcoin and Ethereum will likely surge as a result.
See: The Bitcoin Family: Still on the Road—After Three Years!
To recap, blockchain and crypto implemented across the travel sector can bring with it an array of benefits such as
- International travelers, tourists and travel-related businesses being granted a new and exciting way to make and receive payments for travel services.
- Through events like crypto cruises that bring international crypto enthusiasts, industry experts, and more together, it provides the chance for an unrivalled learning experience.
- It can streamline the world of global travel by enhancing airport experiences, tackling the staggering global losses of luggage, and making cumbersome aspects of travel a thing of the past.
But despite the incredible benefits of crypto and the blockchain, significant risks are also involved. Decentralized currencies are unregulated, and their value can rise and fall in a matter of seconds. This can lead to phenomenal gains or brutal losses. Always do your research before investing in cryptocurrency for the first time, and ideally, seek out the advice of a licensed financial professional to understand what you’re getting into. Invest responsibly and never invest more than you can afford to lose.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Payments Canada Report: Rebound & Grow – Payment Methods and Trends in 2021
Payments Canada | Oct 4, 2022
Canada experiences rebound in transaction volume and value in 2021
Report Highlights:
- Pandemic changes long-term payment preferences for 43% of Canadians
- 50% of Canadians use e-commerce platforms more often than pre-pandemic
- Contactless payment transaction value increased year-over-year in 2021 by 18%
- Credit card use rebounded, increasing by six per cent
- Mobile payments volume and value each grew by 13% year-over year
- Cash and cheques declined nine per cent and six per cent respectively in volume, but increased 14% and seven per cent in value
See:
Research: ECB publishes report on payment habits and attitudes as part of digital euro project
How the Big Five Banks Control Canada’s Payment Systems
Payments Canada Delays Launch of Real-Time Rails Again (without a timeline)
- Online transfer transactions value exceeded debit cards for the first time ever in 2021
- Almost one quarter (22%) of Canadians are comfortable making payments using QR (quick response) codes
- 37% of Canadians are comfortable using fingerprint, facial, or voice recognition to authenticate a payment transaction
- Buy now, pay later (BNPL) is beginning to take hold with almost 1 in 10 (eight per cent) of merchants accepting BNPL and 48% of merchants interested in offering it
The new report reveals that while many payment trends remain consistent in 2021, there is continued acceleration in digital, contactless and mobile payment adoption.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Support NCFA by Following us on Twitter!Follow @NCFACanada |
PayPal and Venmo are Adopting Apple Pay and More
9to5Mac | Chance Miller | Nov 3, 2022
PayPal made these announcements in an update to investors as part of its Q3 2022 earnings release. As one of its “strategic initiatives and business updates,” the company says it is “working with Apple to enhance our offerings for PayPal and Venmo merchants and consumers.”
There are different components to today’s announcement from PayPal, which also owns the popular peer-to-peer payment platform Venmo. Here they are:
- Leveraging Apple’s Tap to Pay on iPhone technology, US merchant will soon be able to accept contactless debit or credit cards and mobile wallets, including Apple Pay, using an iPhone and the PayPal or Venmo iOS app.
See:
PayPal Finally Allows Users to Transfer Crypto to Other Wallets and Exchanges
PayPal’s role in EU Antitrust complaint about Apple Wallet
- Adding Apple Pay as a payment option in PayPal’s unbranded checkout flows on merchant platforms, including the PayPal Commerce Platform.
- Next year, US customers will be able to add PayPal and Venmo network-branded credit and debit cards to Apple Wallet and use them anywhere Apple Pay is accepted.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Support NCFA by Following us on Twitter!Follow @NCFACanada |
