June 6, 2019 — To ensure financial institutions and fintechs have a voice in the future of payments, Celero has joined as a founding member in a new advocacy and education-focused payments association, PayTechs of Canada.
This new association was announced at the Payments Canada Summit on May 14. Its intention is to provide a collective voice for paytechs in Canada to ensure policymakers and regulators understand the current issues facing the paytech industry, and offer real, actionable solutions.
“We have a responsibility and a drive to empower our clients and partners with access to payments solutions that position them competitively in the market,” says Tom Papagiannopoulos, senior vice president of outsourcing and managed services at Celero. “Celero’s role as a founding member of Paytechs of Canada is to ensure that smaller FIs and fintechs’ perspectives and goals are part of future payments policies and regulations.”
Accelerating a payments ecosystem
The payments space has been experiencing rapid change in the last few years; paytech providers have felt that policies and initiatives have not kept pace, and competition hasn’t been valued.
As an industry group for payment technologies companies, PayTechs of Canada was created to become a positive, solution-oriented voice for paytech providers and help accelerate a payments ecosystem that will foster innovation and competition without impacting safety and security.
Paytechs of Canada has three areas of focus: accessing payments infrastructure, facilitating open banking and implementing payment initiation services.
“The success of the Paytechs of Canada and our ability to deliver on the vision of ensuring Canadians have access to the ‘the best possible payments experience’ means we will need companies like Celero in our ecosystem. Their commitment to innovation, digital transformation and fintech growth in Canada make them an ideal partner to help us change the payments landscape for the better,” says Laurence Cooke, founder and CEO of Nanopay, and Paytechs of Canada board chair.
In addition to Celero, eight other organizations are founding members of PayTechs of Canada, and membership is anticipated to grow.
PayTechs of Canada is a sponsor of Fintech Growth Syndicate’s Canadian Paytech Report, which was released on May 14. A copy of the report can be downloaded here.
For more information about Paytechs of Canada, visit www.paytechs.ca.