In fact, more than half of Canadian businesses believe they are spending too much time on payment processing activities. Over 60 percent would be willing to move away from cash and cheques if they had other options.
Despite high levels of satisfaction with their prepaid programs, companies still hold a reasonable expectation for continuous development in the payments industry. Will the proposed changes to the Canadian Payments Act, which may result in a seat at the table for a payment service provider, be the propeller of change and innovation? Time will tell.
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