This Week in Payment News – April 29 to May 3

May 3, 2019

This week in the world of payments, Canadians have a lot to celebrate, such as winning the international banknote of the year design award, and faster cross-border payments for businesses. Read about this and more, in this week’s payment news.

1. Apple Pay on Track To Hit 10 Billion Transactions in 2019

Boosted in part by transit systems, there seems to be an increase in adoption of contactless payments around the world. And for Apple Inc, that trend seems to be paying off. This week, Tim Cook announced that Apple Pay transaction volume has more than doubled year-over-year, and this calendar year they are heading for a new record.

2. BMO to implement cross-border payments with Mastercard Send

In the past, businesses have faced challenges when making cross-border payments, but Mastercard Send intends to change that. A new agreement between Mastercard and BMO Bank of Montreal could mean faster cross-border payments for Canadian-based business and commercial banking clients. This will certainly help deliver a better customer experience to their clients.                

3. $10 bill featuring Viola Desmond named world's best new banknote

It’s the first time in nearly 15 years that a Canadian banknote has been named the best in the world. The bill features human rights icon Viola Desmond on the front. She is the first woman outside of the Royal Family to be featured on Canadian currency. In addition to the design features, the IBNS noted that the bills make good use of innovative technologies and are difficult to counterfeit.

4. Gas Payment Solution PayByCar Launches In Massachusetts

Drivers in Westborough, Massachusetts, can look forward to an easier way to pay for their gas. The Route 9 Alltown Mobil stop has implemented a payment solution that allows drivers to purchase gas from their cars without taking out cash, a credit card, or a mobile app. PayByCar is available to customers who have E-ZPass transponders and payment methods on file.

If you want to learn more about what’s going on in the world of payments, take a look at our recaps from April 15 to 26 and April 8 to 12.

The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed. 

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This Week in Payment News – April 15 to 26
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