Will banks work together with fintech upstarts to find complementary collaboration, or will they lock horn in competition?

Are Canadians still laser focused on paying down debt? Or are Canadians leveraging alternative financial solutions like prepaid cards to help them better manage the money, so they can spend more. According to Moneris Solutions, consumer spending in Canada grew by 6.24 per cent in the first quarter of 2016 on a year-over-year basis.

Apple Pay launching in Canada is a step towards more digital payments, but businesses top priority should be ditching costly paper cheques. For businesses and governments, using paper cheques can be extremely costly. According to the Canadian government, cheques cost .82 cents to issue versus .13 cents for an electronic payment. In the world of increasingly mobile and virtual business options, B2B payments are still critically old fashioned, which costs time and money.

With the holiday season quickly approaching a recent survey entitled, What Canadians Really Want: 2015 Holiday Gift Trends, reveals that more Canadians are wishing for the gift of choice and flexibility. The survey shows a majority of Canadians, 79 per cent, say they would like to receive an open loop gift card, allowing them buy exactly what they want, when they want it and 78 per cent prefer an open loop gift cards versus closed loop gift cards that they can only be used at one retailer. Open loop gift cards carry the card brand of American Express, MasterCard or Visa and are accepted everywhere the card network is accepted, including in-stores and online.