This episode is about the Future of Payments in Canada and around the world.
How do you pay for things today, in your personal and business lives?
Cash, cheque, credit, debit, wire transfers, email money transfers?
Maybe you’re living in the future and pay for everything with your phone.
Have you ever wondered if cash and cheques, aka paper transactions will always be around? Did you know that 875 million cheques were written in Canada last year?
That might surprise you if you don’t even have a chequebook.
But many businesses still rely on cheques to make all of their payments. It provides a paper trail, or audit trail, if you always have the Canada Revenue Agency on your mind.
Will it always be this way? What does the future of payments hold?
To understand the future, it might help to understand more about how payments are processed today.
In May 2018, I was at the Payments Canada Summit and interviewed 4 people about the future of payments:
Sue Whitney of Payments Canada - 2:18
Sam Mulligan of Mobeewave - 11:32
Chris Chan of Dwello - 15:44
Laurence Cooke of Nanopay - 30:06
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Thanks so much for listening to this episode of The Personal Finance Show.
Next week’s guest will be Mark Podolsky, aka The Land Geek.