Global Payments

WEX Expands In Canada With Moneris; Eligma Rolls Out Crypto Payment App

The Axis

Welcome to The Axis, your late look at payments news from around the world. Coverage includes WEX’s expansion in Canada with Moneris Solutions. In addition, a survey of respondents in the U.K. uncovered consumers’ preferences for cashless payments, and Slovenia’s Eligma has unveiled an app for cryptocurrency payments.

WEX is growing is Canadian presence through an integration with Moneris Solutions, which is a processor of credit and debit payments, the companies said in an announcement. Through the tie-up, petroleum-based businesses will be able to take fleet cards from WEX by using the PetroTrak point-of-sale (POS), as well as the fleet management system from Moneris. In addition, the app captures payments with the fleet cards through universal settlement files and transaction activity reports to streamline reconciliation.

And close to 11 million adults in the U.K. believe they are essentially cashless, as they use payment methods besides coins and notes for smaller purchases, LondonlovesBusiness reported. According to research commissioned through GoCompare, 35 percent of respondents take only a debit or credit card when they leave home, and 16 percent said they only have a single contactless payment method. Fifty-nine percent of respondents do believe they will become cashless within seven years. Even so, about half of respondents – 41 percent – believe they still will need notes and coins.

In other news, Slovenia-based Eligma has showcased a digital currency payment app, according to reports. The company describes the product, Elipay, as a method of payment from both brick-and-mortar and eCommerce stores, “but promises to become an all-in-one app integrating debit, credit and loyalty cards, as well as loyalty programs, in one place.” The company said that 130 places in Slovenia offered Elipay on its inaugural launch day. The company said in an announcement that “international expansion [is] to follow.”

——————————–

Featured PYMNTS Study: 

With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.

TRENDING RIGHT NOW