What's New in Payments

One in three Canadians make mobile contactless payments ‘on a regular basis’

Canadians rapidly adopting new payments channels — Payments Canada — “Contactless payments grew 30% year over year from 2017-2018 with a total of 4.1bn contactless payments (card and mobile) worth CA$129.9bn (US$98.58bn) at the point of sale (POS)… Mobile devices were used by nearly 35% of Canadians for contactless payments on a regular basis in 2018.”


What's New in Payments

Public-private sector digital currency experiment releases results of phase II

Public-private sector digital currency experiment releases results of phase II — Payments Canada — “The Bank of Canada, along with Payments Canada, R3 and seven commercial banks, today disclosed the results of phase II of Project Jasper, an experimental wholesale interbank payment system, using digital ledger technology (DLT)… The results show that, despite progress made, underpinning an entire wholesale payments system with DLT still faces many hurdles.”