Canada

Canada's banking regulator released final rules that will make it tougher for borrowers to take on uninsured mortgages, adding to a growing list of measures to rein in the nation's housing markets.

Canadian startup Payment Rails, which aims to use APIs, blockchain and artificial intelligence to find efficient routes for cross-border payments, has closed a seed round bringing funding for its concept to $1.1 million.

Bank of Montreal and Toronto-Dominion Bank are emerging as the banks of choice for Canada's burgeoning marijuana industry, even as some lenders shun the sector.

Canada's banking industry has issued a warning to government about giving Canadians more control of their own banking data: proceed with caution.

The airline wants to capture more benefits from a program that should be worth more than C$2 billion ($1.6 billion) over 15 years.

CU in Vancouver announces distribution via redemption, dividend on shares.

Royal Bank, the first Canadian lender to report fiscal third-quarter results, saw a jump in profit from its domestic banking operations amid signs that the nation's economy is accelerating.

With the right focus and a little bit of pre-work, many companies can leverage ISO 20022 as the new global standard, writes Kate Risch Choi, a senior product manager for treasury and payment solutions at BMO Harris Bank.

A federal regulator has agreed to review an advisory restricting Canadian credit unions' use of the words "bank" or "banking" in their marketing, but some say it will take more than that before credit unions can truly compete with banks there.

China's Alipay already has broad global reach—its mobile wallet is accepted at more than 100,000 retail locations in 70 international markets—but in North America it’s just getting started.

Royal Bank of Canada has updated its mobile app to enable personal banking users to ask Siri to pay their bills on iPhone and iPad.

Mobile wallets have failed to excite many consumers, but Canada has an extreme case of paralysis underscoring the stark need for ongoing incentives to get consumers to change their payment habits.

Toronto-based nanopay Corp. is making MintChip, a digital currency it acquired in 2015 from the Royal Canadian Mint, available to merchants looking for a lower-cost payments channel by leveraging digital cash.

CIBC plans to spend two years focusing on internal growth at PrivateBank except for some targeted wealth management acquisitions, but ultimately capital outlays or takeovers will be necessary to meet its growth ambitions.

The billionaire investor agreed to buy shares at a deep discount and provide a fresh credit line for the Canadian mortgage company, tapping a formula he used to prop up lenders from Goldman Sachs to Bank of America.

Royal Bank of Canada, the country’s second-largest lender by assets, is cutting about 450 positions, mostly at its headquarters.

Due in part to the U.S.'s lackluster adoption of contactless cards, mobile wallets had a slow and difficult time gaining hold among consumers and merchants that were unfamiliar with the tap-and-pay process or didn't have the right technology. The opposite problem plagues Canada, where contactless cards are so widely used that mobile adds little value.

Not only is the uninsured sector growing, but the Bank of Canada is seeing some riskier mortgages within that area as it studies recent disruptions in the market.

Android Pay achieved a broad and rather sudden rollout in Canada this week when the nation’s domestic debit network, Interac, announced its support for the mobile payment service days after Google officially launched Android Pay there.

A new tariff on Canadian lumber threatens to further disrupt homebuilding at a time when lenders are increasingly concerned about a purchase mortgage resurgence that has failed to materialize.