Canada

One area of certainty in the 2020 election is the momentum for legalizing cannabis, as a string of ballot box victories makes it harder for banks to avoid working with dispensaries and other legal marijuana businesses.

Emerging market payments and foreign exchange provider Crown Agents Bank Ltd. is partnering with MTFX Group, a similar company based in Canada, to expand digital payments access across Africa.

Financial Software and Systems is upgrading the card management technology for Everlink Payment Services in Canada, converting the legacy card issuing and transaction processing systems to a single digital platform.

With businesses requiring stronger liquidity, BMO will use its online platform and Interac's receivables service to support simultaneous near real-time payment requests to multiple recipients.

Record profits from trading and other capital markets activities helped to offset steep revenue declines in personal and business banking.

Canadian consumers are changing their banking habits to reduce physical contact with others because of COVID-19, according to a new study by McKinsey & Co.

The coronavirus pandemic has led to a massive surge in Canadians using digital identity authentication platforms to get immediate access to government emergency aid.

The coronavirus pandemic has led to a massive surge in Canadians using digital identity authentication platforms to get immediate access to government emergency aid.

More than half of Toronto's population is foreign-born — a higher proportion than New York, Paris, London or Sydney — and about 52% identify as a visible minority. But the city's diversity fades in the upper echelons of its financial firms.

Many of the payment innovations of the past decade got an early start in Canada, building a base of users and habits the nation hopes will make the pivot to post-coronavirus commerce easier than other markets.

The Toronto company also said it set aside 232 million this year for U.S. regulatory probes into the bank’s metals-trading practices and costs tied to the wind-down of that business.

The second-quarter jump in provisions may be three to four times higher than a year earlier and will be mostly for loans that have yet to go bad, analysts said.

Canada's biggest banks have spent more than $71 billion on technology since the last financial crisis in a bet that clients would eventually become more digitally savvy. The pandemic is hastening that shift faster than they could've expected.

Mastercard has increased the contactless payment limit to CA$250 across Canada to provide consumers with a safer way to pay during the coronavirus pandemic.

Payments gateway and financial crime compliance technology provider Pelican is partnering with Banking Labs to serve banks and corporations in Canada.

Canada’s small businesses have lagged behind the U.S. in adopting digital commerce for a variety of reasons, but coronavirus might send things in a new direction.

The country's top six banks were sideswiped by rising provisions for soured loans and slumping capital markets.

A June data breach at Desjardins Group, Canada's largest financial cooperative, is now believed to have impacted 1.5 million more members than first reported.

In an international expansion move, AI-powered grocery cart startup Caper has begun a pilot with one of Canada’s largest grocery chains, Sobeys, at a suburban Toronto location.

Technology companies like Square and Stripe have nimbly captured small-business share from banks that often overlooked the segment. Royal Bank of Canada is trying to respond through a mix of merchant services, tied to the national debit system and incentive marketing.