Central 1 Credit Union has joined credit unions in British Columbia and Ontario to launch what they are calling the first mobile person-to-person payments offering from Canadian financial institutions.
Prospera CU in Abbotsford, B.C., and Teachers CU in Hamilton, Ont., worked together to launch the Interac e-Transfer payment system that provides near real-time payments via smartphone or computer, the credit unions said.
"This is the logical evolution of mobile banking and as more retailers and financial institutions adopt mobile payments, the potential impact for consumers is virtually limitless," said Oscar van der Meer, chief technology officer for Central 1, the Vancouver-based provider of central banking, association and other services.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
