The Payment Source Blog

After a few years of hiatus, Now Prepay is thrilled to finally be able to exhibit at this year's Convenience U CARWACS Show on September 13th and 14th at the Toronto's Congress Centre. With over 300 exhibitors showcasing their products and services, there is no better way to gain insight into the industry than to attend this trade show. It is an excellent resource for any C-Store owner who wants to discover new products and services in the market. As well, you will get critical information on the changing retail landscape and how they can keep their feet in this competitive market.

With the trend towards most consumers shopping online today, retail networks which offer their customers the option for prepaid alternative payments will realize increased foot traffic, customer loyalty and the added benefits of a commission on each transaction. Alternative Payment Methods also allow retailers without an e-commerce platform to participate in the online shopping world. 

Fraud attacks on gift card retail businesses are becoming more and more prominent every year, and the pandemic certainly had an impact. In Canada, retail fraud has increased a whole 15% since pre-pandemic and is now costing Canadian retailers hundreds of millions of dollars every year (see source). With this trend, it is crucial you are aware of fraud, so here are some popular forms of fraud and how to protect yourself from them.

Ecommerce sales — online shopping, esports, online gaming and other internet activities — continue to experience accelerated growth in Canada. Stores can reap the benefits of this trend by offering their customers products and services to help them easily make these types of purchases.

In today's e-commerce based economy, gift cards continue to be both a popular form of currency and a preferred choice for gifting/receiving amongst Canadians. Gift cards offer the flexibility of both in store and online use which is appealing to consumers (see source). When it comes to where to purchase a gift card, 74% of consumers say they regularly buy gift cards from small businesses (see source). They are also considered popular impulse buys (see source) which is why we recommend you position your gift card fixture close to your checkout lane. This time of year shoppers, while  stopping in to their local convenience store for groceries or a gas fill up, suddenly remember that Mothers Day, Fathers Day or someone’s Graduation is just around the corner and they need a gift for that special someone.