Canada

Stored-value cards are growing in popularity with underbanked gig workers who need an easier way to get paid as well as with younger consumers in Canada who have traditional bank accounts but prefer the cards for e-commerce transactions.

The national debit network Interac is working with Payments Canada, which oversees the country's payment system, on an instant payment rail while demand from local shoppers and a need for faster supply chain finance grow more pronounced.

John Adams, Executive Editor at PaymentsSource, talks to Debbie Gamble, chief officer of Innovation Labs and New Ventures at Interac, about Canada's growing digital needs.

The company, which operates private-label and cobranded credit card and loyalty programs, plans to spin off its loyalty operations this year to improve ADS' financial performance.

David Heun, associate editor at PaymentsSource, talks to Laura Socha, senior partner at Capco, about the trends driving the advancement of payment technologies in Canada.

Brim Financial contends there's an innovation gap for installment lending that favors larger lenders.

Until regulatory reforms are introduced, nonbanks won’t have direct access to Payments Canada's Real-Time Rail, a situation that risks stifling innovation.

Instant payouts for gig workers have been gaining traction globally for the last five years, but Canada lacked many options until COVID-19 struck.

Flush with excess capital, Bank of Montreal, TD Bank and others say they might be in the market to do a cross-border deal.

JPMorgan Chase is partnering with Air Canada, the bank's first new cobranded card partner to be announced in years.