This Week in Payment News – October 15 to 19

October 18, 2018

October seems to be flying by, doesn’t it? With news coming in from right here at home, with one of our founding partners, and even from the Dutch central bank, it was a quick and busy week in the payments industry!

1. Pick Card Payments Over Cash and the Environment Will Thank You

If you’re looking to find new ways to reduce your environmental footprint, it’s time to pick your cards over cash! The Dutch central bank published a study this week discussing the energy consumed by cash transactions over card based transactions, the resources need to create these payment tools, and more. Make sure to check out this article to find out more of their findings.

2. Digital Convenience and a Push to Shop North of the Border Will Drive Canadian Purchases This Holiday Shopping Season, According to Accenture's 2018 Holiday Retail Survey

With a countdown to the holiday season well underway for retailers across the country, press releases are starting to roll out about where shoppers are likely to spend their money this year. A holiday shopping survey from Accenture found that Canadian consumers will turn to “convenient digital shopping options for their gift purchases and opt to spend their money at Canadian retailers this holiday season”. This could be due to a number of different reasons, such as the growth in social media, or currency exchange rates with the U.S. Find out more of these survey learnings in this article!

3. BC Ferries begins taking debit in two-month pilot project

After 58 years in business, BC Ferries is finally accepting Interac payments on-board some of their ferries. Using Moneris terminals! The pilot is being launched on the Tsawwassen to Swartz Bay routes, a one hour and 35 minute trip. Prior to this launch, only cash and credit were accepting for tickets and on-board.

4. Coinsquare Adds BMO as Banking Partner

We’re always excited to see our founding partners in the news, and this is an extra exciting headline! Coinsquare, a cryptocurrency trading platform, can now use BMO to streamline the process of depositing and withdrawing funds. This move helps make Coinsquare a more trusted name in the market, and gives Canadians better access within the cryptocurrency industry.

5. UK in-store contactless payments overtake chip and pin – Worldpay

Contactless payments have taken over in the UK, where they are now more poplar than chip & PIN cards transactions! The switch over happened in June, according to Worldpay, which reported that 51 per cent of in-store card based transactions were contactless and that number rose again in July!

Want to learn more about the recent headlines in the payments industry? Check out our recaps from October 8 to 12 and October 1 to 5!

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 – October 8 to 12
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