The sun is shining, the warmth of the summer is settling in, and the payments industry is getting hot too!
From new credit campaigns to street performers revolutionizing their payment abilities, this week was full of excitement and new developments in the payments industry in Canada and across the globe.
1. American Express Rolls out New Brand Campaign in Canada, Focused on Having Customers' Backs in Life and in Business
It can be difficult to separate your personal and business lives, and American Express is testing the waters on how they can help play a supportive role in cardholders lives. Their latest campaign shows how American Express can be a part of a “hybrid” life, and instead of being a card used just for consumer purchases, it can also be a powerful payments tool for business owners.
2. Buskers to start taking contactless card payments in London
Have you ever wanted to donate to a street performer only to realize you don’t have cash or pocket change on-hand? In order to support emerging talent, and ensure that this art form doesn’t become a memory of the past, street musicians in London, England are being given card readers to take payments. The technology is being rolled out in London boroughs, and is already having a real impact.
3. The reasons a retailer is behind the most successful mobile payments solution
If you think that Apple Pay, Google Pay or Samsung Pay are the top three mobile payment apps, it may be a shock to find out you’re wrong. The Starbucks app has more users than any of the top three, with almost 30 million American users opening the app at least once every six months. And, there are some good reasons this retailer has been so successful that other retailers can learn from.
4. WhatsApp has launched person-to-person payments into beta in India
Tired of having to leave a conversation and open another app to send money to a friend or family member? WhatsApp, the free cross-platform messaging app owned by Facebook, is now beta-testing an in-app feature that allows users to send money other users. Though this may not come as a surprise, as Facebook is also beta-testing a payment platform in their Messenger app, these person-to-person payment features are starting to look like they could really shake up the current market.
5. Department of Finance Canada Issues Consultation Paper on Review of Canadian Payments Act
The ability to make quick, safe, and secure payments is part of the foundation of the economic activity in Canada, but have you ever considered how we’re able to manage that? In 2015 Payments Canada, the association that owns and operates Canadians’ core payment clearing and settlement systems, implemented changes that effect how Canadians are able to pay, and it’s time to make sure they’re working correctly. For detailed information about what the review will entail, make sure to check out the above link.
Interested in learning more about payments from industry experts? Take a look at our articles A Q&A With Jeff Guthrie, Moneris' Chief Sales and Marketing Officer, and A Q&A With Brian Prentice, Moneris' Chief Risk Officer.