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PaymentsJournal sat down with Jennifer Tramontana, executive director of the CPPO, to chat about developments in the Canada’s prepaid space, as well as parallels between the Canadian and U.S. prepaid market. Tramontana was joined by Sue Brown, director of Prepaid Advisory Services at Mercator Advisory Group, and author of the recent annual prepaid report commissioned by the CPPO.
By Jennifer Tramontana, executive director of the CPPO board of directors
On May 13, we wrapped up the 2019 CPPO Prepaid Symposium in Toronto. The annual event immediately preceded Payments Canada’s Summit and brought together more than twenty-five local and international thought leaders to an intimate gathering with 100 delegates specialized in prepaid.
Don't miss the chance to register for the 2019 CPPO Prepaid Symposium, the only annual event dedicated to prepaid in Canada. This event brings forward-thinking discussions with innovators and thought leaders about the role of prepaid in Canada’s paytech growthto an intimate one-day gathering.
CPPO's Executive Director, Jennifer Tramontana, joined a panel discussion with Payments Canada to talk about women leading change in the payments industry. Jennifer Tramontana discussed how the payments industry is being shaped by women, diversity, innovation and modernization, alongside nanopay’s Elena Litani and AscendantFX’s Shemina Jiwani, and what opportunities will be available for girls.
Last minute holiday shoppers have at least one reason to rejoice this year because their task just became a lot easier. According to the Prepaid Card Research, prepaid cards topped Canadian wish lists this holiday season because the cards can be widely used to buy exactly what the recipient wants. This data is in line with trends seen in the United States, where prepaid cards remain the most requested gift for the past twelve years and continue to grow in popularity.
With a strong appetite for alternative financial solutions, Canadian companies are demanding new products and technologies that expand their point of sale and back-office payment options. Many companies are turning to prepaid card solutions, according to the latest CPPO corporate prepaid market study, with CAD$3.8 billion loaded onto open-loop cards in 2017 – a figure that has increased by more than 27 percent annually since 2015.
CPPO's Chairman, David Eason, caught up with millennial money expert, Jessica Moorhouse, to educate millennials about the ever-popular prepaid card.
The Canadian prepaid market is exploding with a variety of prepaid card types and applications, with more than 236 million prepaid transactions taking place in 2016 alone.
A few weeks ago, I attended the Canadian Prepaid Providers Organization’s (CPPO) first-ever Prepaid Symposium. The symposium brought together stakeholders from across the United States and Canada to discuss the current and future state of the prepaid card industry in North America. As a New York-based representative of the Center for Financial Services Innovation (CFSI), I joined a panel of other U.S. representatives to discuss promising prepaid innovations south of the border.
As someone who was involved in the formation of the Network Branded Prepaid Card Association (NBPCA) in the U.S., it was a real pleasure to be present at the inaugural symposium of the Canadian Prepaid Providers Organization on May 23. It is exciting to watch the prepaid card market develop in Canada. Both the differences and the similarities between the Canadian and U.S. markets will make it interesting to compare and contrast how prepaid cards evolve in the two places.
The Canadian Prepaid Providers Organization (CPPO), the leading voice of the prepaid industry in Canada, hosted a one-day symposium in May to discuss the changing nature of the Canadian prepaid market.
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.