A Canadian Company With Huge Global Impact

In Financial Services, Insights, Security, Technology by Brian Semkiw

Canada is a world leader in mobile payments.

by Brian Semkiw, Chief Executive Officer

No other country has such broadly established EMV payment acceptance or contactless POS infrastructure. Canadians tap and pay at thousands of retailers from Sidney, BC to Sydney, Nova Scotia. More than any other nation, Canada is ready for mass NFC mobile payment adoption.That means Carta is in a remarkable position. We’re the only third-party processor in Canada. In fact, we’re the world’s only next-generation processor for issuing banks – capable of future-proofing legacy processing systems. We’re a small company, but we’re making a global impact in mobile payments. Having our headquarters and our primary data centre in Canada is a huge part of that – and the benefits serve more than just our Canadian customers.

Until now, almost 100 percent of Canadian payments have been processed in the United States. That means Canadian transaction data has had to leave our borders and to be stored in American servers, where data security is treated very differently. South of the border, the Freedom of Information Act means the Department of Homeland Security can access and inspect any data, regardless of your bank’s policies. Once data has been requested, there are few limits on where it can spread.

Storing that data in Canada keeps it truly confidential. Our data centre on Prince Edward Island is a highly sophisticated secure facility, but it’s also the only secure data host for financial services in Canada.

We’re in a position to provide something no other processor can offer. This is important for our Canadian bank clients, but our international clients reap the same benefits of Canada’s data security policies.

Pair that with Canada’s readymade contactless infrastructure, and you’ve got the perfect ecosystem for secure, future-proof mobile payments. Frankly, there’s nowhere else we’d rather be.