RPOF Part 2: The other side of the coin
By: Kyle Drewnowsky, nanopay Corporation In part 1 of this series discussing Canada’s proposed Retail Payments Oversight Framework (RPOF), Fintechs Canada Executive Director, Doug Kreviazuk, outlined the need for this legislation and its potential to guide Canada into an era of payments modernization. In part 2, Fintechs Canada Board Chair, Laurence Cooke, looks to provide […]
RPOF Part I: The cornerstone of evolution for the payments system
By: Doug Kreviazuk, Executive Director, Fintechs Canada “In mid-2017, the Department of Finance released a new Retail Payments Oversight Framework (RPOF) in response to mounting pressure to modernize retail payments regulations and the rapid emergence of new, unregulated participants in the broader payments ecosystem. The RPOF was designed to better safeguard the payments system from new […]
Leadership in Canada’s payments system
By: Doug Kreviazuk, Executive Director, Fintechs Canada For more than two decades, national payments systems around the world have been transforming: transforming their infrastructure and scope of activities. Numerous countries have used payments modernizations to drive greater efficiencies and, in return, create opportunities for their economies to grow and allow businesses and consumers to reap […]
Ready for take-off: Mobile payments in a post-COVID Canada
By Everlink Payments Services & Fintechs Canada Member, October 2020 The year 2020 will go down as a year to remember, but not necessarily for the good things. The measures put in place to control the COVID-19 pandemic have wreaked havoc on the economy and have had a major impact on the confidence, income, and […]
Access delayed is access denied
By Doug Kreviazuk, Executive Director, Fintechs Canada Have you ever wondered how our payments system could be improved to service our individual lives better? Wonder no more, and simply look at the new emerging payment-related services available across Europe, Asia, Australia and Africa. Whether seeking financial advice, budget services or integrated inventory controls, the options […]
Sponsorship: Fast track access for Canadian PayTech
By Doug Kreviazuk, Executive Director, Fintechs Canada For PayTechs operating in Canada, the business challenges surrounding gaining direct access to the national payments system seem to be significantly greater than those in many other national jurisdictions, resulting in adverse consequences for Canadians. In response, Fintechs Canada has been actively pursuing changes in the current payments ecosystem […]
Insight into Payments Canada and new CEO, Tracey Black – (Part II)
By Doug Kreviazuk, Executive Director, Fintechs Canada. Introduction: Recently, I had the opportunity to pose a series of questions to the new CEO for Payments Canada, Tracey Black. In Part I of a two-part interview, Tracey discusses the strategic priorities for Payments Canada, the modernization efforts and the Retail Payments Oversight Framework. In Part II of the series, […]
Insight into Payments Canada and new CEO, Tracey Black – (Part I)
By Doug Kreviazuk, Executive Director, Fintechs Canada. Introduction: Recently, I had the opportunity to pose a series of important questions to the new CEO for Payments Canada, Tracey Black. In a two-part interview, Tracey discusses their strategic priorities, the risks and challenges currently being faced in the payments system and the potential impacts on proposed […]
Canada: a bystander to the payments evolution
By Doug Kreviazuk, Executive Director, Fintechs Canada. The discussion of modernizing Canada’s legal framework and introducing wholesale improvements to Canada’s payments infrastructure have been ongoing for over a decade. Now, the future of Canada’s payment infrastructure and supporting policy is at a critical crossroads. There are two options for consideration: either we move very quickly […]
The Wirecard scandal: unintended impact on PayTechs
By Alessandro Laval, Business Analyst, Apaylo Finance Inc. In the last few months, the payments industry, or more specifically the FinTech sector, has come under increased scrutiny as a result of the operations and recent activities of one PayTech firm: Wirecard. Wirecard, a now-defunct payments processing company out of Germany, was supporting many retail companies […]