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Payments Modernization in Action: Payments Canada announces Lynx Release Two

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Central 1 is pleased to recognize Payments Canada’s recent announcement about the launch of the second release of Lynx, supporting the introduction of the ISO 20022 financial messaging standard to high-value payments in Canada. This second release helps to set the foundation for further payment innovation to occur in Canada over the coming years.  Central 1, in collaboration with other partners including...

Payments Modernization in Action: Supporting Emergency Payments in B.C.

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Central 1 is pleased to recognize the Province of BC’s (the Province) recent announcement about the availability of Interac e-Transfer as part of its upgrades to Emergency Support Services (ESS). The achievement demonstrates the benefits of leveraging modernized payments to support Canadians’ increasing demand for digitally enabled payment choices. As a financial institution headquartered in Vancouver, B.C., Central 1 knows...

Central 1 Gains Momentum with Forge 2.0 Adoption

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VANCOUVER, B.C., December 17, 2021 – Central 1 continues to build momentum with its Forge 2.0 digital banking solution, including recent launches with BC-based Coastal Community Credit Union and Ontario’s Kindred Credit Union. These implementations now bring Forge 2.0 to 117 committed clients as of today.  “The importance of delivering modern and seamless digital banking experiences to Canadians is greater than ever, and...

Central 1 and Fiserv to deliver state-of-the-art payments processing capabilities in Canada

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VANCOUVER, B.C., September 14, 2021 – Central 1 Credit Union (Central 1), one of the largest payments processors for Canadian financial institutions, today announced it has selected Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, as its strategic partner for delivering state-of-the-art payments processing capabilities for the Canadian market. Central 1 is an integral member of...

Central 1, Vancity and First West credit unions partner to launch enhanced Interac e-Transfer® instant digital payments

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VANCOUVER, B.C., September 8, 2021 – Central 1 Credit Union (Central 1), one of the largest payments processors for Canadian financial institutions and government organizations and payments partner of choice for emerging fintechs, in collaboration with Vancity and First West credit unions has successfully launched the first phase of Interac e-Transfer® for Business. The solution is an enhancement to the existing Interac e-Transfer service that enables the receipt of real-time, account number routed and data-rich transactions.   Vancity and First West Credit Union are...

Central 1 leading Canada’s credit union system through Payments Modernization

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Central 1 will have a strong presence at the forthcoming Payments Canada Summit; the industry’s once-a-year opportunity to come together to learn, network, and connect on the future state of payments in Canada. Canada is undergoing a massive transformation in its payments industry to support the rapidly changing needs and expectations of the Canadian marketplace, foster innovation and strengthen competition...

How this credit union is getting ready for real-time payments

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“Faster payments is something that our members have been requesting for some time and we’re excited that Canada’s new Real-Time Rail (RTR) will allow us to provide more convenient payments options to our members, especially our small business members,” reveals FirstOntario Credit Union’s VP Digital Channels and Experience, Ron Renton. Renton and the team at FirstOntario have had Canada’s Payments...

Ensuring the Safety and Soundness of Payments for the Credit Union System

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Meet Sue Whitney, the payments guru who is leading Central 1 on our Payments Modernization journey. As VP of Payments Strategy, Sue has brought to Central 1 and the credit union system her vast experience of driving transformational change within Canada’s payments system (in the public and private sector). She was recently appointed to an additional three-year term on Payments Canada’s Member Advisory Council (MAC), a body which is...