Today In Payments Around The World: Payments Canada Taps Interac For Real-Time Services; EU Could Face Recession

In today’s top payments news around the world, Payments Canada will work with Interac Corp. to function as the exchange service provider for the country’s Real-Time Rail (RTR), while economists are convinced that a double-dip economic recession is ahead for the eurozone. Plus, a new plan from U.K. officials would let blank-check companies become a part of the U.K. stock market.

Payments Canada Selects Interac For Real-Time Rail Exchange Services

Payments Canada will team with Interac Corp. to serve as the exchange solution provider for the nation’s RTR. “Working with Payments Canada to support the build of the Real-Time Rail represents a significant opportunity to enable consumers and businesses to take full advantage of digital payment solutions and foster increased innovation and efficiency,” Interac Corp. President and CEO Mark O’Connell said in a release.

EU May Face Recession As Employment, Retail Numbers Stay Weak

The eurozone, encountering high unemployment rates in an attempt to keep the pandemic contained, has economists convinced a double-dip economic recession is in the future. Spain is encountering five-year unemployment highs. For the first time in years, the nation is seeing more than 4 million jobless people at the same time. In addition, Germany has been looking at retail sales dropping for months in a row.

UK Might Allow SPACs To Boost London After Brexit

A new plan from British officials would allow special purpose acquisition companies (SPACs) become a part of the U.K. stock market as part of a series of new reforms that are meant to strengthen London’s reputation following Brexit. Moreover, company founders will reportedly have the ability to exert more control when listing their companies in the city.

Amazon Unveils Website For eCommerce In Poland

Amazon has introduced its new Polish website as of Tuesday morning (March 2), but that won’t come without competition in the nation’s online shopping boom. The eCommerce retailer announced the site in January with the intent of better serving local shoppers, who were using its German site in the past. However, there wasn’t a set date for opening originally. The initial announcement of the site led Polish shopping company Allegro to see sharply declining shares.