The Fintech Five – Powered by PayPal
The Fintech Five powered by PayPal profiles five of the hottest and most promising financial technology companies across Canada each month. The list is curated by Techvibes editorial staff and reflects who is making waves in our nation’s fintech ecosystem right now.
ChangeJar is a mobile app that lets users receive or pay with change from everyday transactions using their smartphones. The value of coins that were previously lugged around, left to rattle in cars or languish in household containers instead is instantly credited to the ChangeJar Mobile app on the user’s phone.
Instead of rummaging through pockets or purses users can make purchases or tip for service using their ChangeJar Mobile balance. Users also can do instant person-to-person transfers to divvy up bills and handle other common personal cash exchanges. ChangeJar Mobile is free for users and merchants pay no transaction fees.
ChangeJar is available at select Ottawa-area merchants and will expand across Canada later this year.
Paying other people – whether you’re buying a bike from a stranger on Kijiji or paying back a friend who picked up dinner – is usually done the old-fashioned way, in cash. Montreal-based fintech startup Mobeewave is looking to change that.
Mobeewave recently launched a public beta of PayMeTap, an app that allows almost anyone with an Android phone to accept VISA or MasterCard payments with just a tap of the card. The app uses the near-field-communication technology embedded in around 90 per cent of Android phones and found on contactless smart cards.