This Week in Payment News – July 1 to 5

July 5, 2019

This week Canada celebrated it’s 152nd birthday, but that didn’t stop the payments industry from releasing a number of interesting headlines!

1. redtag.ca Partnering With Uplift For Great Travel Solutions

Planning and paying for a vacation was made easier this week with the announcement of the partnership of redtag.ca and Uplift! Travelers can now book travel plans and split the payment for the trip over a 12 month period by using Uplift’s payment plan technology. Whether you’re thinking about planning travel over winter or even next summer, you may want to check out this article!

2. Tap to Pay Scores Big for Visa and Fans at the FIFA Women's World Cup France 2019™

This week Visa announced an analysis of spending during the group stage of the FIFA Women’s World Cup France 2019, and it sounds like tap payments were a winner! The results showed that in the nine official stadiums, soccer fans used contactless payment technology for more than half of purchases; these contactless methods include contactless cards, smartphones, payment-enabled wristbands and wearable technology.

3. BMO LAUNCHES DIGITAL-ONLY LINE OF CREDIT SERVICE

Bank of Montreal is launching a new, digital-only line of credit to support the growing needs of meeting customers online. Customers can apply for the line of credit by filling out a short application, and can receive the decision on their loan in minutes. Because of this real-time decision, customers will also have faster access to credit and allow them to use the loan within 48 hours of approval!

4. Mexico to launch smartphone payments system

The Mexican central bank has announced that they’re launching a smartphone payment system, and has instructed banks to join by the time the system goes live in September. The new platform will be named CoDi, and is meant to refuse the use of cash and draw people into the financial system. With the governor of the Mexican monetary authority noting “the number of people [in Mexico] with smartphones is twice that of those who have a bank account”, CoDi definitely has the potential to be a success!

If you’re curious about what else has been making the headlines this June in the payment industry, make sure to check out our recaps from June 24 to 28 and June 17 to 21.


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 – June 24 to 28
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