“Hold on, I think I’ve got another penny in one of these pockets…”

It was only a couple of decades ago where paying with paper (not even polymer!) and metal coinage was the go-to. A common alternative, hardly touched today outside of legacy business, was the classic cheque. Cash registers for point-of-sale transactions were hefty, clunky blocks. Only fancy business folk had credit cards and even then used them sparingly.

Now we use digitized cards and pay by tapping a POS terminal—which could be an iPhone these days—with our smartphone or even smartwatch. Cash is increasingly rare, even vilified since the Covid-19 Pandemic, while Bitcoin and other cryptocurrencies continue to gain mainstream adoption in Canada and elsewhere…(Read more here)

Written by Knowlton Thomas

Originally posted on https://www.fintech.ca/2022/08/15/fintechs-innovating-payments-canada/

Published on August 15, 2022