October 20, 2015
We have witnessed some prominent partnerships established among players in the payments industry. There are many reasons behind one company joining hands with the other. The number of nodes (and complexity) in the payments ecosystem makes it necessary to strike partnerships to get things done. The payments industry welcomes a large number of new players every year. To survive the competition, these new players join hands with the established ones to get a competitive advantage. We can see the result of these partnerships in the form of product launches, geographic expansion and some outstanding innovation happening in payments systems.
LTP has covered some of the most important partnerships that have happened in the payments industry. Below is a list of highlights of some noteworthy partnerships:
The battle for the digital wallet is intensifying in Canada with the launch of a mobile payments app backed by Canada’s major wireless carriers and promises to include the big banks. Rogers recently announced the expansion of its mobile wallet client, the suretap wallet, to Bell and Telus devices, including those on Virgin Mobile and Koodo. In fact, CIBC bank signed up immediately after the announcement and will allow its customers ...