E-Payments Drive One Quarter of Canada’s Economic Growth - Issue 4 - August 15, 2004

Frontier Times, Issue 4, August 15, 2004

Note from the Editor:

Finally an all-Canadian payment industry event! The Electronic Transactions Association of Canada (ETAC), (Tel: 514-282-8463) is now in the process of planning its founding convention scheduled for October 21, 2004 at the Toronto TSX convention centre. The event will be the ‘ETA of Canada’. Organizers are planning a half day event with speakers, exhibiters and networking, all designed to bring together the Canadian industry.

I had the pleasure of speaking on the US payments system at the Korean CardTech show in Seoul on July 18, 2004. As many readers know, Korea is far ahead of Canada in payment technology. The best example is the contactless, read-write SIM card for cell phones that is used as a mass transit pass and for small payments. Similar SIM cards are being mounted in key chains, watches and other original payment devices that I hope we will see in Canada sometime soon.

At The Frontier Times, we were very proud of the official launch our web site www.frontiertimes.ca on July 19, 2004. The response has been a ten fold increase in traffic to the site with a few hundred visits per day. The chat section of the site, which will be an easy to sue bulletin board service, is expected to draw a lot of traffic. In print, the FT is now read by over 1000 readers participating in the payments business in Canada.

We are proud to say that everyone from Breanstream to the Bank of Canada is reading the FT. Reaping the opportunities abound on our pages up to you, our readers. Enjoy!

Adam N. Atlas

Editor in Chief

atlas@frontiertimes.ca

E-Payments Drive One Quarter of Canada’s Economic Growth

Electronic payments contributed CDN$107 billion to the Canadian economy since 1983, accounting for nearly 25% of Canada’s cumulative economic growth according to a newly released study entitled “The Benefits of Electronic Payments in the Canadian Economy.” Commissioned by Visa Canada and conducted by leading economic consulting firm Global Insight Inc., the study quantifies for the first time the impacts of electronic payments on the Canadian economy, finding a strong link between payment system efficiencies and economic growth. Merchants and financial institutions can process and settle transactions more efficiently, reliably, and securely in an electronic payment system, thanks to lower payment system and infrastructure costs and greater economies of scale. These efficiencies can be as much as 1% of the value of goods and services produced.

According to the study, CDN$60 billion of growth in personal spending by Canadians over the past twenty years is directly attributable to electronic payments. Credit cards accounted for more than 82% of this growth, while debit cards accounted for just over 17%. Electronic payments enable international travelers or online shoppers to purchase goods from Canadian businesses. The study shows that international Visa cardholders purchased CDN$5.2 billion of merchandise from Canadian businesses in 2003. As well, while card adoption and use varies dramatically across countries, Canada leads the world in card adoption and utilization. University of Toronto economist, Professor Jack Carr advised on the economic model developed and noted: “This study makes it clear that beyond convenience, electronic payments drive the economy by enhancing transactional efficiencies and expanding payment channels.”

Another recent Visa Canada study entitled “How Business Buys 2004,” based on an in-depth survey of 635 senior purchasing and 299 travel and entertainment professionals with findings considered accurate within plus or minus 3%, 19 times out of 20, predicts that electronic ordering will grow from 15% of total orders in 2003 to 40% by 2008. “By the end of this decade, electronic technologies will account for more than a third of commercial transactions, as companies look to achieve more efficiency and save money,” says Jacqui Hurd, Senior Product Manager, Commercial Solutions, Visa Canada. Electronic ordering methods include e-mail, supplier websites, organizations’ extranets, marketplace sites, and e-procurement. Telephone and fax will still dominate in the coming years, but just barely, declining from 75% of total orders in 2003 to 51% by 2008.

As well, the share of paper invoices received by companies will decline from 90% in 2003 to 65% by 2008, reflecting corporate Canada’s growing capability to deliver and receive invoices electronically. Delivery of electronic invoices over the Internet, known as “electronic bill presentment,” will grow from 2% of total invoices received in 2003 to 14 % by 2008. Transmission of billing information electronically, called “electronic data interchange,” will also grow from 2% of total invoices received in 2003 to 13% in 2008.

By 2008, the share of commercial purchases paid for electronically will increase from 14% to 34%, while cheque payments will decline from 84% to 65%. Electronic payment methods include store cards and purchasing cards, a charge card that employees of medium and large size businesses use to pay for business operating expenses, in addition to electronic fund transfers, electronic data interchange and wire transfers. “Despite these strides forward, businesses have still got a lot of room to lower costs and increase savings,” Hurd said. The Visa study found that in 2003, 84% of payments for commercial purchases were still made by the costly and time-consuming process of issuing cheques, and 90% of all invoices received by companies were paper, which are more costly and time-consuming than electronic invoices.

The Frontier Times Team

Editor in Chief

Adam N. Atlas: atlas@frontiertimes.ca

Managing Editor

Anny Vexler: vexler@frontiertimes.ca

Senior Associate Editor

Valerie L. Fox: fox@frontiertimes.ca

Associate Editors

Lena E. Atlas: lena@frontiertimes.ca

Lionel Perez: perez@frontiertimes.ca

Layout*Graphics*Illustration

centre TYPO: edaley@centretypo.com

Artistic Conceptualization

Michal Katz: pichkom@yahoo.com

Production

centre TYPO: edaley@centretypo.com

Contact us:

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Canada’s Electronic Transactions Journal

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The Frontier Times: Canada’s Electronic Transactions Journal is Canada’s only payment processing and merchant acquiring industry publication. Any copying or reproduction of any part or all of this publication is strictly prohibited without prior express written consent from The Frontier Times.

To subscribe, advertise or contribute to The Frontier Times, please visit www.frontiertimes.ca.

© 2004 The Frontier Times: Canada’s Electronic Transactions Journal

ISSN: 1710-4505 The Frontier Times: Canada’s Electronic Transactions Journal (Print)

ISSN: 1710-4513 The Frontier Times: Canada’s Electronic Transactions Journal (Online)

New s

VeriFone Open for Business in Canada

Toronto, June 29 - VeriFone Canada held a half day seminar in Toronto on June 29, 2004 to announce to the Canadian industry that VeriFone is open for business in Canada. Martin McCann, in charge of VeriFone in Canada, and Jesse Adams, Executive Vice President North America, were amongst the ten or so VeriFone executives present. Datawest, Paymentech and TD Bank were among the bigger names present in the audience of just under one hundred guests. VeriFone made it clear that Canada is important to its business plan, and that it is open to suggestions as to how to mould their new Canadian programs to best meet the needs of the Canadian market. Within six months to a year, a full range of VeriFone products will be available in Canada. There was an in-depth explanation of the Omni 3750, for which VeriFone will be submitting a pin pad for approval by Interac this fall. VeriFone displayed great sensitivity to the Canadian market by emphasizing the importance of value added products (VAP) in selling Canadian merchants on new equipment. EMV is the best example of VAP for Canadians. VeriFone made it clear that EMV is coming to Canada.

Adam Atlas, Editor in Chief, atlas@frontiertimes.ca

TNS Smart Network Inc. Offers Wireless ATM Security Monitoring

Toronto, June 8- TNS Smart Network Inc., the largest privately owned Canadian transaction processor, has partnered with DPL Group (DPL), a manufacturer and developer of wireless monitoring applications, to provided wireless transactions and ATM security monitoring. TNS is delivering secure processing for over 7,000 ATMs with the newly added benefit of wireless transactions and security monitoring provided by the DPL group. The partnership’s new Hercules 100 system provides 24/7 ATM monitoring including alarm activation upon door opening, machine tilting or power disconnection.

Canada Issues “Gateway” Loyalty System Patent

Las Vegas and Ottawa, June 15- Smart Chip Technologies (SCTN), a U.S. based software technology company, announced that the Canadian Intellectual Property Office has issued its patent 2182596, “Method and System for Allocating and Redeeming Incentive Credits between a Portable Device and a Base Device.” SCTN’s “gateway” patents, owned in Canada, the U.S., Mexico Australia and Japan, cover the business process of storing consumer incentives on a smart chip or device. The patent-protected turnkey loyalty system, co-developed with the Canadian based Airos Group and IBM, enables click-and-mortar, real time rewards programs using any existing customer identification device as well as smart, magnetic-stripe, bar code, or RFID cards, laptops, PDAs such as Palm ™ or Windows ™ devices, TV set top boxes, or mobile phones, establishing business continuity across physical, mobile, and virtual streams of commerce.

Joseph Diamond, SCTN SVP of Finance and administration, said, in a company press release: “We are delighted to have the broad, business process patent finally issued in the Canadian market which has higher adoption rates of smart cards and advanced chip technologies than the U.S. market, thereby strengthening our Canadian product offering and creating an additional revenue stream through patent licensing.”

The patents are key to SCTN’s end-to-end loyalty program management solution that is engineered for EMV (Europay, MasterCard, Visa), Global Platform, and MULTOS compliance for electronic payment integration. As the loyalty system is compatible with bar code, magnetic-stripe RFID, and smart cards, it provides a smooth migration path for banks and financial institutions that must maintain popular cardholder rewards scheme during the upgrade to secure, EMV-compliant smart cards.

TRM Expands ATM Network through Canadian Acquisition

Portland, Oregon, June 17- TRM Corporation announced that it has acquired Mighty Cash Financial, a Canadian ATM network operator. This acquisition marks TRM’s entry into the CanadianATM market. “Mighty Cash represents our first cross-border expansion since entry into the United Kingdom five years ago,” said Dan Tierney, Executive Vice President of TRM.

TRM will use its existing field service and sales infrastructure to support the ATM network, which now services over 3,000 in-store photocopy locations throughout the country. Through purchase of all outstanding shares of Mighty Cash, TRM’s Canadian network consists of 72 ATM locations comprised primarily of merchant-owned programs.

RBC Financial Group Serves Clients Affected by Processing Disruption

Toronto, June 18- RBC Financial announced it has established a formal process to review claims for costs or losses incurred as a result of its processing disruption of May 31 to June 4, 2004, in addition to steps it is currently taking to minimize the impact of those affected during the processing disruption, including the reversal of bank service charges and interest fees caused by the processing disruption, and the refunding of certain other charges and fees. RBC Financial and BMO Bank of Montreal Financial formed a 50/50 joint investment relationship in December 2000 called Moneris Solutions, now Canada’s largest payment processor. Kevin Tait, Moneris’ Senior Manager of Marketing Communications, explained that Moneris’ own merchant processing services were in no way affected by RBC’s processing disruption.

ATMIA Canada Conference Predicts Industry Growth

Brookings, South Dakota, June 21- The first ATM Industry Association’s full industry conference in Canada took place June 14-16 in Vancouver, B.C. with over 150 delegates present. Billed as “Evolution in Business and Security Strategies in North America,” the conference featured constructive critiques of the industry” from leading companies and industry bodies such as Visa Canada, MasterCard Canada, INTERAC, eFunds Canada, Canada Revenue Agency, BackCheck, TNS Smart Network, the Guthrie Group, Tidel Engineering LP, Level Four Software Ltd, Royal Canadian Mounted Police, Ubizen, and Ficanex Services Corporation. In the opening address, Mike Hudson, CEO of Tidel Engineering LP stated that “integrity drives market growth,” and that “by having a safe and secure product, platform and transaction, the ATM industry could readily find an additional 200,000 locations for its devices.” Conference topics focused on addressing ATM fraud, discussing trends in account data compromise, minimizing the risks and maximizing the benefits of Triple DES migration, managing security within the independent ATM market, preparing ATM networks for EMV compliance. Delegates received copies of The Frontier Times’ Issue 3.

DataWave Signs POS Activation Agreement with

Petro-Canada Chain

Vancouver, June 21- DataWave Systems Inc. announced that it is the exclusive supplier of POS Activation technology of prepaid phone time to Petro-Canada convenience stores across Canada. This technology will be used to sell prepaid long distance and cellular PINs as well as other prepaid products. As Kelly Smith, DataWave’s National Director of Sales, said, over 4,000 retail locations are now linked to the DataWave electronic distribution network, strengthening DataWave’s position as the leading provider of POSA technology in Canada.

Ezee ATM Inc. Acquisition

Toronto, June 30- Ezee ATM LP, Canada’s largest non-switching White-Label ATM portfolio management company, announced that it has acquired all of the ATM assets of Montreal based Meta-4 Business Networking Solutions from CGI Group Inc, comprising a network of 700 ATMs located across Canada dispensing services totaling more than $300 million per year. With the Meta-4 acquisition, Ezee ATM predicts an increase in its annual transaction base to 15 million and in its cash dispensing from approximately $500 million to $900 million. At the end of April 2004, Ezee ATM LP partnered with capital investment firm Newport Partners Inc.

Optimal Payments Acquires National Processing Services LLC

July 2, Montreal- Optimal Group Inc., a leading payments and services company with operations throughout North America and the United Kingdom, announced that Optimal Payments, wholly-owned by Optimal Group, has completed the previously announced acquisition of National Processing Services LLC, a registered VISA and MasterCard independent sales organization.

On June 1, 2004, Optimal Group announced that it had acquired Terra Payments Inc, an international leader in the payment processing industry, with Terra continuing its business under the name Optimal Payments Inc.

BMO Branch to Close in Iqaluit

Iqualuit, July 9- BMO is closing its only branch in Nunavut on November 5th. As Greg Younger-Lewis reports in the Nunatsiaq News, bank officials blame a lack of business for closure but refused to disclose how much business they have in Nunavut. BMO provided services that other banks initially failed to give, such as Inuktitut language services and flying of representative to communities outside Iqaluit. With the bank closure, only two charter banks will remain in the territory: the Royal Bank and CIBC.

TD Outsources to Hewlett-Packard Its New ATM Network

Toronto, June 13- Toronto-Dominion Bank announced that Hewlett-Packard Canada Ltd. will now be responsible for the bank’s ATM network in a cost-cutting measure through the hiring of specialized technology partners in view of the increasing competition of white-label ATM operators. With TD paying $420 million over seven years to Mississauga-based HP Canada, HP, in turn, will lead the project to replace 2,400 TD ATM machines and supply TD with POS terminals as well as manage network of machines.

Go Software’s PCCharge 5.7 Geared to Canadian Market

Las Vegas, June 19- GO Software Inc., a subsidiary of Return on Investment Corporation and a leading provider of POS payment processing software announced, at the 2004 Retail Solutions Providers Association’s (RSPA) EXPOtech, the release of an upgraded system called PCCharge 5.7 which provides support for Canadian debit card transactions, as well as enhanced security in conjunction with Visa’s Cardholder Information Security Program.

F e a t u r e s

Canada-Wide Cheque Truncation and Electronic Presentment: Meeting the 2006 Deadline

According to the Canadian Payments Association’s (CPA), every business day in Canada, more than five million cheques, passing countless hands, are transported between financial institutions, sometimes thousands of kilometres apart, to reach the branches holding the accounts on which they were written. This reliance on air and ground transportation around the country creates cost inefficiencies. Moreover, the events of September 11th have shown how a major incident can disrupt cheque clearing processes and risk affecting the financial stability of financial institutions.

For these reasons, the CPA is leading an industry Canada-wide initiative to eliminate the physical movement of cheques. Formally referred to as “Truncation and Electronic Cheque Presentment,” the ultimate goal of this initiative is to replace, Canada-wide, physical exchange of cheques with exchange of cheque images and MICR line data (the string of digits at the bottom on the face of a paper check that identifies the bank, account and check number, printed using a special magnetic ink and character font.) The deadline set for this initiative is the end of 2006, as Roger Dowdall, VP Communications of the CPA, confirmed. He went on to say that CPA’s Cheque Clearing protocol includes addressing: (i) the technical systems and networks for image exchange; (ii) the image standards for cheques including MICR data exchange, and image quality; (iii) the rules and procedures for the clearing process; (v) cheque processing legislation. In 2004, CPA is focusing on the development of functional and system specifications, as well as the definition of rules, standards and procedures. In 2005, a new telecommunication network required for exchanging electronic cheque information and image between Direct Clearers (a financial institution that settles cheques drawn on or payable to it through a settlement account at the Bank of Canada) will be the priority. Scheduled for 2005 may be work on a file exchange control system, and an image quality control system software application for clearing operations.

In addition, as discussed in the May 11 CPA Plenary meeting, work also must be done by way of federal and provincial legislation for cheque imaging. In the U.S., Check 21, or the Check Truncation Act for the 21st Century, takes effect October 28th, 2004 and essentially gives an Image Replacement Document (IRD) the same legal status as a cheque, which allows cheque truncation and clearing of the payment by the exchange of images. In Canada, while no substantive changes have been made to the Bills of Exchange Act, the legislation most relevant to the clearing process, for over 100 years, other legislation, including the federal Evidence Act and other similar legislation in most provinces already explicitly deals with electronic documents such as images. The CPA is proposing certain amendments to legislation dealing with cheque imaging to meet the 2006 deadline including less restrictive presentment requirements, and a broadened definition of cheques to include digital images created from paper items. As of now, according to Barbara Ciarniello, Associate Vice President of Payment Services at the Credit Union Central of British Columbia (CUCBC,) the CUCBC, the first financial institution to do cheque imaging in Canada, does not destroy the physical cheques in their collection because B.C. legislation does not yet clearly give cheque images the legal status of physical cheques. Hopefully, by the end of 2006, legislation will enable all financial institutions to destroy physical copies of cheques in view of their cheque imaging services.

So how does cheque imaging work exactly? In the Canadian clearing system today, cheques are exchanged between financial institutions daily at six settlement points, where they are exchanged, in turn, between up to twelve Direct Clearers. What happens when cheque truncation and electronic presentment are in place? When clients deposit a cheque at their financial institution branch, instead

of the cheques being bundled, totalled and sent by air or ground to the regional processing center for that financial institution, the amount and the MICR line, as well as the front and back digital image of the cheque is captured. Companies like NCR Corporation are offering cheque imaging capture services not only at bank branches but also at ATMs, self-service kiosks, and retail POS to further perfect cheque truncation. Notably, in the U.S., cheque truncation at the POS is already commonplace.

While in traditional Canadian cheque clearing, at the processing data centre, the amount of each cheque would be encoded on the cheque in magnetic ink to facilitate automated processing, after which the cheques would be passed through high-speed readers and sorted based on the financial institution holding the accounts on which they have been written, with the new cheque imaging capabilities in place, instead of shipping the actual cheque, the data captured from the cheque and the image file is transmitted to the “drawee institution” (which holds the account on which the cheque was written). In this case, the transit time for the cheque to reach the drawee institution is virtually nil. Not only does the drawee institution have access to cheque image and data much faster to make a decision on whether to honour the cheque, but customer service agents on both sides can retrieve information for customers within minutes, instead of having customers wait for microfilm retrievals.

Currently approximately 1.5 million Canadian financial institution members use cheque imaging, mostly from credit unions in Western Canada. As previously stated, the Credit Union Central of B.C. was the first Canadian financial institution to implement cheque imaging services, beginning around 2001. Ostensibly, the larger financial institutions have yet to provide cheque image services to their members. Michael Dickinson, Communications Manager of Capital City Savings Credit Union in Alberta, hinted at the fact that one of the six large Canadian banks is offering cheque imaging solutions for a fee, while the credit unions do not charge a fee, but when asked if he knew which bank, the CPA’s Roger Dowdall explained that cheque imaging implementation in Canada is fluid and at any moment, various financial institutions may be working on upgrading to cheque imaging to meet the 2006 deadline. Notwithstanding, as Denis Bergeron, Director of Product Management and Marketing at NCR Canada Ltd., said, the larger financial institutions have more restructuring work to do in terms of cheque imaging implementation so they are more hesitant than smaller ones, such as credit unions, to implement the new cheque imaging technologies. But what was the deciding factor for the B.C. credit unions to adopt cheque imaging? The CUCBC’s Barbara Ciarniello said that around 1997, the CUCBC’s equipment had reached the end of its life time. CUCBC decided to implement cheque imaging as a way to cut infrastructure costs in the long run.

Then, other Western credit unions followed suit. As of already September 2003, all Manitoba, Saskatchewan and Alberta participating credit union and caisses populaire members were receiving imaged cheques with their statement. As Alberta’s Capital City Savings’ Michael Dickinson explained, customers are very happy to be able to view their cheque clearance and receipt online within hours of cheque deposit at their branch. Dickinson says that the next step for Capital City will be to offer CD-ROMs of cheques to allow business to have quick easy access to their cheque images right on their own PCs. And while Capital City Savings may use the cheque imaging database for data mining and marketing, according to Michael Dickinson, CUCBC’s Barbara Ciarniello suggested that data mining cheque databases poses ethical privacy issues, even though it is legal practice.

Ultimately, what does cheque imaging mean if and when it is implemented Canada wide by the end of 2006? Essentially, over and above the cheque imaging benefits such as improved fraud detection, faster cheque tracing and statement re-creation, faster clearing cycles, reduced risk with decreased transit times, improved image quality, and cost reduction for financial institutions, Canada-wide implementation means that your cheque is honoured and cleared instantly.

Anny Vexler, Managing Editor, vexler@frontiertimes.ca

NCR Corporation’s Payment Solutions Designed and Developed Right Here in Canada

For over 30 years, NCR Corporation’s Payment Solutions Division in Waterloo, Ontario has been a pioneering giant in cheque/item processing technology, developing its ImageMark Solutions, the most comprehensive family of image-based processing technology on the market. The image below gives an overview of ImageMark™ Solutions. As Lorraine Willson, Communications Consultant at NCR Canada Ltd., explained, the NCR Canada based research and development operation is a main player within the e-transactions/payments sector. The ImageMark family of hardware, software and services allows banks to electronically capture, process, and retain financial items within an image archive. From there, these image-based transactions can then be electronically delivered to banks and consumers, anywhere, anytime.

Moreover, NCR’s new generation Personas M and EasyPoint ATMs, which are equipped with Intelligent Deposit features, enable consumers to make deposits and receive actual images of the receipt and on the screen, instantly, made possible through NCR’s patented Cheque Image on Receipt technology. Intelligent Deposit solution won the 2003 Banker Technology Awarded, Self-Service Category.

NCR Canada Ltd. is putting Canadian design and development on the U.S. map. On May 20, NCR announced that Wells Fargo, a diversified financial services company with $397 billion in assets, would be using NCR’s ImageMark™ Transaction Manager to drive one of the laest image-based cheque processing infrastructures in the U.S. And on May 18, NCR announced that it was teaming up with VECTORsgi, a leading provider of financial transaction processing to enhance flexibility for major U.S. banks making the transition to Check 21. Not surprisingly, according to Barbara Ciarniello of the Credit Union Central of B.C. (CUCBC,) NCR Canada Ltd’s products jumpstarted the CUCBC’s move to cheque imaging.

the e-transactions/payments sector.

Frontier Directory

Entities active in the electronic transactions business in Canada. A free service of The Frontier Times.

For your free listing, visit www.frontiertimes.ca

Business Name	Type of Business	Telephone Number	URL
Airos Group	Card, POS terminal, Cash register, gateway, host software development.	905 842 3276	www.airosgroup.com
B2 Processing Solutions Inc.	Software solutions for payment transaction industry.	416-730-9827	www.b2ps.com
Beanstream Internet Commerce Inc.	Payment and authentication services provider.	250-472-2326	www.beanstream.com
Caledon Card Services -	Internet and integrated credit/debit card processing with Enhanced data.	905-702-9909 Ext. 103	www.caledoncard.com
Collective Point of Sale Solutions Ltd.	Enabling ISOs to sell debit, credit, gift, loyalty and prepaid.	800-219-7119	www.collectivepos.com
Datacap Systems, Inc.	Integrated payment solutions for cash registers and POS devices.	757-496-6478	www.dcap.com
Ecom Secure Inc.	Credit card processing, pay at pump retail and Internet sales.	877-937-3206	www.ecom-ca.com
EdgeWare Technologies Corporation	Software development firm for card-based technology solutions.	905-513-0530	www.edgeware.ca
EFT Canada Inc.	A Canadian & US electronic transaction processor.	416-781-0666	www.eftcanada.com
ETAC	Electronic Transactions Association of Canada.	514-282-8463	www.electran.ca
E-xact Transactions	IP based payment processing, integrated and stand alone solutions.	604-691-1670	www.e-xact.com
Global Payment Systems of Canada, Ltd.	Bank card processor.	416-445-7151	www.gps.ca
Ingenico Canada Ltd.	Secure transaction terminal software, network and gateway services.	416-245-6700	www.ingenico-ca.com
InternetSecure Inc.	Merchant Account and Payment Service provider specializing in Internet Commerce.	1-800-297-9482	www.internetsecure.com
Merchant Card Acceptance	Canadian ISO selling card processing, gift, loyalty, ATM’s.	1-888-MCA-4POS	www. merchantsales.com
Mercury Payment Systems	Merchant service provider and front-end processor.	800-846-4472	www.mercurypay.com
Moneris Solutions Corporation	Canada’s largest processor of debit and credit card transactions.	1-866-MONERIS	www.moneris.com
NPS GLOBAL Payment Processing	PC and Web based Electronic Funds Transfer (EFT) services.	1.800.931.7837	www.npsglobal.com
PsiGate	Internet merchant account & payment services provider.	877-374-9444	www.psigate.com
Smart Chip Technologies	Loyalty program management solutions for POS systems, cards, electronic devices.	702-837-3594	www.sctn.com
Soltrus Inc.	Provides online payment processing solutions for Canadian merchants.	877-291-3111	www.soltrus.com
Telpay Incorporated	Internet bill payment service for major utilities, governments, businesses, banks.	800-665-0302	www.telpay.ca
Transaction Network Services Inc.	Managed data communication solutions for the transaction processing industry.	866-295-4658	www.tnsi.com
TRM Corporation	Global consumer services company providing convenience banking and photocopying solutions.	800 877 8762	www.trm.com
Adam Atlas Attorney at Law	Law firm specializing in electronic transactions law.	514-842-0886	www.adamatlas.com

To subscribe, advertise or contribute to The Frontier Times, please visit www.frontiertimes.ca. The Frontier Times: Canada’s Electronic Transactions Journal is Canada’s only payment processing and merchant acquiring industry publication. Any copying or reproduction of any part or all of this publication is strictly prohibited without prior express written consent from The Frontier Times.