Friday, July 18, 2025
Distribution: (800) 510 0384
Washington DC
New York
Toronto
Press ID  
  • Login
The Hudson Weekly
  • Financial
  • Blockchain
  • Technology
  • Entertainment
  • Lifestyle
  • Arts
  • Health
  • Sports
  • Cybersecurity
No Result
View All Result
  • Financial
  • Blockchain
  • Technology
  • Entertainment
  • Lifestyle
  • Arts
  • Health
  • Sports
  • Cybersecurity
No Result
View All Result
The Hudson Weekly
No Result
View All Result

Disrupting the Canadian Payment Technology Industry

Michelle Kellett by Michelle Kellett
November 18, 2022
in Financial
A A
Disrupting the Canadian Payment Technology Industry
Share on FacebookShare on Twitter

The Canadian payment technology industry is experiencing a period of rapid and radical change as merchants, consumers and regulators push for more possibilities and options for how, when and where Canadians pay.

The traditional payment ecosystem consists of a large, complex network of issuers, merchant acquirers, processors, networks, card schemes, independent sales organizations (ISOs), service providers and merchants.

HudsonNewsroom

Hungary’s Real Estate Funds and the Golden Visa Advantage: Maximizing Returns

The 4-Day Workweek vs. A Bigger IT Salary: What Do Tech Workers Really Want?

Banking Software Essentials for PayTech Startup Success

A number of large, internationally established players still control the payment landscape in Canada and they set the terms of access to their payment system, through contractual arrangements with card networks or payment schemes. However, we are also seeing many international disruptors — some new entrants and others existing players — looking to enter or expand in Canada.

Tapping Into Existing Payment Networks: EFTs

EFT payments, or electronic funds transfer, are a convenient way to make payments favored by many businesses and individuals. EFT payments are used to transfer money directly from one bank account to another using a variety of payment methods. EFT payments make up a huge chunk of the payments economy, with around $5 trillion in payment being processed in 2020 in Canada alone.

It is important to recognize that EFT does not just refer to a single payment type. EFT is the general term given to a payment that is made electronically, and using an EFT processor can be done in many different ways. Some of the most common EFTs include:

Credit or Debit Card Payments

Most people will be familiar with debit and credit card payments, as this is an extremely common way of paying for goods and services. You can also receive money through this medium, however this is comparatively less common.

Electronic Checks

Electronic checks or e-check as they are more commonly known have become more popular in recent years, due to their increased speed of payout when compared to regular paper checks. They are also much more secure and less open to fraud and exploitation, since they have digital accountability.

ACH (Automated Clearing House) Payments

ACH payments are the standardized electronic payment form in the USA. Many people will use the ACH network in some way, perhaps without even being aware of it, since it is commonly used for paying bills and receiving deposits from an employer. ACH payments in Canada are still common for businesses who want to transact in the USA.

Old Meets New With Intelligent EFT Payments

Bank to bank EFT payments have been around for a while, and they have largely remained unchanged. This means the limiting factors of EFTs have stayed the same, meaning slow processing times for bank to bank payments, and complete lack of visibility into the process as it happens.

This is set to change however, as some forward thinking payment technology companies have created intelligent EFT payments that extinguish these drawbacks. Instead of taking up to 3 days as they usually would, same day EFT payments can now provide huge benefits to businesses and consumers.

With this new technology, businesses can streamline their payment processing and save time and money where it matters most. This will then have a trickle down effect as companies can offer faster, more efficient payment methods and the consumer can enjoy lower fees, more transparency and faster turnaround times.

Michelle Kellett

Michelle Kellett

Deputy Editor, Investing and Corporate News

More from HW Newsdesk

Hungary's Real Estate Funds and the Golden Visa Advantage: Maximizing Returns
Financial

Hungary’s Real Estate Funds and the Golden Visa Advantage: Maximizing Returns

July 18, 2025
The 4-Day Workweek vs. A Bigger IT Salary: What Do Tech Workers Really Want?
Financial

The 4-Day Workweek vs. A Bigger IT Salary: What Do Tech Workers Really Want?

July 16, 2025
Banking Software Essentials for PayTech Startup Success
Financial

Banking Software Essentials for PayTech Startup Success

July 16, 2025

HW Newsroom

How a Chlorine Shower Head Filter Can Improve Skin Sensitivity and Dry Hair
Lifestyle

How a Chlorine Shower Head Filter Can Improve Skin Sensitivity and Dry Hair

by Dennis Keller
July 18, 2025

Two of the most noticeable features of a person are their skin and hair. This is why it’s not surprising...

6 Common Myths About Protecting Business Electronics That Could Lead to Damage

Intelligent PDF Merging Solutions for Modern IT Departments

July 18, 2025
How Crypto Casinos Use Blockchain to Offer Anonymous Gaming

How Crypto Casinos Use Blockchain to Offer Anonymous Gaming

July 18, 2025
7 Mental Benefits of Pattern Recognition Games Like Mahjong and Sudoku

7 Mental Benefits of Pattern Recognition Games Like Mahjong and Sudoku

July 18, 2025
The Truth About Countertop Material Costs (From a Builder’s Perspective)

The Truth About Countertop Material Costs (From a Builder’s Perspective)

July 18, 2025
The Joy and Educational Value of Farm Animal Toys for Children

Creating a Calming Home Environment for Children With Autism

July 18, 2025
Timeless or Trendy? Engagement Ring Styles That Speak to Every Personality

Timeless or Trendy? Engagement Ring Styles That Speak to Every Personality

July 18, 2025
How to Choose the Perfect Christmas Tree for Your Space

5 Must-Have Features to Look for When Booking a Christmas Party Venue

July 18, 2025
How Jewelry Making Classes Boost Confidence and Creativity for Kids

How Jewelry Making Classes Boost Confidence and Creativity for Kids

July 18, 2025
Why Caring for Your Mental Health Is Crucial

A Clean Energy Boost for Busy Parents and Professionals

July 18, 2025
Top Benefits of Building an Outdoor BBQ Kitchen

Top Benefits of Building an Outdoor BBQ Kitchen

July 18, 2025
Edificio Metropoli, Gran vía - Madrid, Spain. © Jorge Fernández Salas

Your Spanish Dream Awaits: Navigating Residency in Spain With MySpainVisa – A Professional and Responsible Approach

July 18, 2025
No Result
View All Result

Headlines

Best 2025 Toyota Corolla Cross Floor Mats – Waterproof, Durable & Easy Clean

Peace of Mind: 24/7 Support for Your Safari Trip From Your Agency

Hungary’s Real Estate Funds and the Golden Visa Advantage: Maximizing Returns

How a Chlorine Shower Head Filter Can Improve Skin Sensitivity and Dry Hair

Intelligent PDF Merging Solutions for Modern IT Departments

How Crypto Casinos Use Blockchain to Offer Anonymous Gaming

Trending

How to Swap TRX to USDT Instantly Using Symbiosis
Blockchain

How to Exchange ETH to USDT on TRC20: Your Friendly Walkthrough

by Nicole Choquette
July 18, 2025

This tutorial provides a step-by-step overview of how to exchange ETH to USDT on the TRC20 network, showing exactly...

What Makes Regulated Forex Brokers a Better Choice

Why Your Forex EA’s Location Matters More Than Its Strategy

July 18, 2025
Best 2025 Toyota Corolla Cross Floor Mats – Waterproof, Durable & Easy Clean

Best 2025 Toyota Corolla Cross Floor Mats – Waterproof, Durable & Easy Clean

July 18, 2025
Peace of Mind: 24/7 Support for Your Safari Trip from Your Agency

Peace of Mind: 24/7 Support for Your Safari Trip From Your Agency

July 18, 2025
Hungary's Real Estate Funds and the Golden Visa Advantage: Maximizing Returns

Hungary’s Real Estate Funds and the Golden Visa Advantage: Maximizing Returns

July 18, 2025
  • Kia America представляет цены и захватывающие обновления для Sorento 2025 (ICE)

https://madisongraph.com/kia-america-unveils-pricing-and-exciting-updates-for-2025-sorento-ice/

#nyc #losangeles #chicago #houston #phoenix #philadelphia #sandiego #dallas #sanfrancisco #seattle #denver #washingtondc #boston #detroit #vancouver #toronto #publicrelations #marketingagency #earnedmedia #editorial #marketing #guestpost #guestposting #sponsored #sponsoredpost
  • Kia Recognized as One of TIME Magazine’s “World’s Most Sustainable Companies of 2024”

https://madisongraph.com/kia-recognized-as-one-of-time-magazines-worlds-most-sustainable-companies-of-2024/

#nyc #losangeles #chicago #houston #phoenix #philadelphia #sandiego #dallas #sanfrancisco #seattle #denver #washingtondc #boston #detroit #vancouver #toronto #publicrelations #marketingagency #earnedmedia #editorial #marketing #guestpost #guestposting #sponsored #sponsoredpost
  • VinFast Auto Establishes Dealer Advisory Board to Enhance Customer Experience

https://madisongraph.com/vinfast-auto-establishes-dealer-advisory-board-to-enhance-customer-experience/

#nyc #losangeles #chicago #houston #phoenix #philadelphia #sandiego #dallas #sanfrancisco #seattle #denver #washingtondc #boston #detroit #vancouver #toronto #publicrelations #marketingagency #earnedmedia #editorial #marketing #guestpost #guestposting #sponsored #sponsoredpost
  • Medicare Announces Expansion of Coverage for Microprocessor-Controlled Knees for Lower Mobility Users

https://lincolncitizen.com/medicare-announces-expansion-of-coverage-for-microprocessor-controlled-knees-for-lower-mobility-users/

#nyc #losangeles #chicago #houston #phoenix #philadelphia #sandiego #dallas #sanfrancisco #seattle #denver #washingtondc #boston #detroit #vancouver #toronto #publicrelations #marketingagency #earnedmedia #editorial #marketing #guestpost #guestposting #sponsored #sponsoredpost
  • GA-ASI Successfully Tests PT6 Engine on MQ-9B SkyGuardian Aircraft

https://lincolncitizen.com/ga-asi-successfully-tests-pt6-engine-on-mq-9b-skyguardian-aircraft/

#nyc #losangeles #chicago #houston #phoenix #philadelphia #sandiego #dallas #sanfrancisco #seattle #denver #washingtondc #boston #detroit #vancouver #toronto #publicrelations #marketingagency #earnedmedia #editorial #marketing #guestpost #guestposting #sponsored #sponsoredpost
  • U.S. Leading Economic Index Declines by 0.2% in June 2024, Coincident Index Rises by 0.3%

https://fairmontpost.com/u-s-leading-economic-index-declines-by-0-2-in-june-2024-coincident-index-rises-by-0-3/

#nyc #losangeles #chicago #houston #phoenix #philadelphia #sandiego #dallas #sanfrancisco #seattle #denver #washingtondc #boston #detroit #vancouver #toronto #publicrelations #marketingagency #earnedmedia #editorial #marketing #guestpost #guestposting #sponsored #sponsoredpost
  • USTDA Director Travels to Bulgaria and Romania to Promote Clean, Secure Energy

https://belmontstar.com/ustda-director-travels-to-bulgaria-and-romania-to-promote-clean-secure-energy/

#nyc #losangeles #chicago #houston #phoenix #philadelphia #sandiego #dallas #sanfrancisco #seattle #denver #washingtondc #boston #detroit #vancouver #toronto #publicrelations #marketingagency #earnedmedia #editorial #marketing #guestpost #guestposting #sponsored #sponsoredpost
  • Police Recommend a Hidden Camera Detector Device to Protect Privacy

https://marketsherald.com/police-recommend-a-hidden-camera-detector-device-to-protect-privacy/

#nyc #losangeles #chicago #houston #phoenix #philadelphia #sandiego #dallas #sanfrancisco #seattle #denver #washingtondc #boston #detroit #vancouver #toronto #publicrelations #marketingagency #earnedmedia #editorial #marketing #guestpost #guestposting #sponsored #sponsoredpost

© 2025 The Hudson Weekly. Published by The Ritz Herald. Editions: Markets Herald • Lincoln Citizen • Madison Graph • Belmont Star • Fairmont Post

Address: 1177 6th Avenue, 5th Floor, New York, NY 10036. Removals: pr@hudsonweekly.com. Phone: (718) 313-5252. M-F: 9AM-5PM. Privacy Policy

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Financial
  • Blockchain
  • Technology
  • Entertainment
  • Lifestyle
  • Arts
  • Health
  • Sports
  • Cybersecurity

© 2025. The Hudson Weekly