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The open banking report and “tsar”: possible reasons for delay

Posted in: Articles

We’ve been waiting for the advisory committee’s open banking report, as well as the appointment of an open banking “tsar,” for a long time. Everyone has been saying “any day now” for the past few months. So why the hold up?

Paytechs of Canada welcomes as its newest member

Posted in: News

“ is trying to solve a big problem — late payments, which hurt cash flow and do disproportionate damage to smaller businesses in Canada,” says Laurence Cooke, chairman of the board of Paytechs of Canada. “Stepping up where our financial system is letting businesses down is what Paytechs of Canada is all about, so we’re proud to welcome as our newest member.”

Competition and innovation won’t support themselves

Posted in: Articles

If you frequent the payments ecosystem’s hallways, you’ve already heard the chatter: there is a concern that the Bank of Canada will regulate fintechs like they oversee Payments Canada’s clearing and settlement systems and Interac’s e-Transfer service — out of public sight, out of public mind, and inclined to be more attuned to what could go wrong than to what could go right.

Paytechs of Canada welcomes Mogo, Carta, and Moka as its newest members

Posted in: News

“Mogo and their growing corporate family are among the top digital challengers Canada has to offer,” said Laurence Cooke, the chairperson of Paytechs of Canada’s board. “Their innovative mission to help Canadians manage their money better raises the bar for all Canadian fintechs and banks. This embodies what our association is all about, and so we’re thankful for the opportunity to join forces and help Canadians reach their best together.”

Open banking could make big banks even bigger

Posted in: Articles

If open banking is a huge success, triggering a Cambrian explosion of financial-services apps, that very success may undermine itself. Apps need app stores. And app stores are fertile ground for anti-competitive outcomes.

Paytechs of Canada welcomes Interchange Financial as its newest member

Posted in: News

Interchange Financial joins the association at a good time, as Paytechs of Canada continues the push for modernized financial sector regulation, and the Financial Stability Board continues its push to enhance cross-border payments.