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Canadian Tech in 100 Words

Mastercard

Touch Card Enhances Payment Accessibility for Sight Loss

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Mastercard is advancing inclusive finance in Canada with Touch Card, a tactile payment solution for individuals with sight loss. Featuring notched edges—rounded for debit, square for credit, triangular for prepaid—the cards offer enhanced independence and security. CIBC is the first Canadian bank to issue Touch Card, underscoring its commitment to accessible banking.

Alongside this launch, CIBC also introduced CIBC AI, a generative artificial intelligence platform aimed at boosting productivity and supporting its client-focused strategy. The bank recently joined the Creative Destruction Lab’s AI program and pledged 200 new AI-related roles to strengthen its innovation capacity.

Want to know more? Check out the source code on Fintech.ca.

Mastercard and Northeastern Tackle Canada’s Cyber Talent Shortage

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Mastercard has partnered with Northeastern University in Vancouver to address Canada’s cybersecurity talent gap, contributing over $700,000 to support research and expand opportunities for underrepresented groups in cybersecurity. This initiative includes establishing the Mastercard Professorship Fund and the Mastercard Vancouver Scholarship, aiming to engage 100 students through internships over three years.

Mansur Mirani, VP of Mastercard’s Cyber Centre of Excellence, emphasizes the importance of diverse talent in driving innovation. This partnership builds on Mastercard’s $500 million investment in Vancouver’s Global Intelligence and Cyber Centre of Excellence.

Want to know more? Check out the source code on Techtalent.ca.

TD Bank, Mastercard Partner to Restore B.C. Forests

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TD Bank has joined Mastercard’s global Priceless Planet Coalition to support tree restoration in British Columbia’s wildfire-impacted Thompson Watershed. From October 24, 2024, to January 15, 2025, TD will donate toward planting up to 30,000 trees for every eligible MBNA credit cardholder switching to e-statements.

“Sustainability is a core value for TD,” said Jennifer Bishop, VP at TD Bank. Mastercard’s Diane Miquelon emphasized the initiative’s community impact. Partnering with Tree Canada, the coalition aims to restore 100 million trees worldwide. This effort reflects Mastercard’s commitment to uniting businesses and individuals for climate action.

Want to know more? Check out the source code on Newswire.ca.

Fintechs Urged to Strengthen Cyber Defenses as Threats Grow, Mastercard Exec Advises

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Amisha Parikh, Mastercard’s VP of Security Solutions, shares insights on the cybersecurity challenges facing fintechs and small businesses in today’s digital economy. Parikh stresses cyber hygiene basics like software updates and strong passwords, while recommending multi-factor authentication (MFA) to safeguard financial data.

AI is also a focus; cybercriminals leverage AI for phishing, but Mastercard combats threats with AI-powered fraud detection. Mastercard’s Trust Centre provides fintechs with tools, including a Cybersecurity Assessment, to assess risks and enhance defenses. Parikh underscores emerging trends like biometric authentication, advising fintechs to remain vigilant as cyber threats become more sophisticated.

Want to know more? Check out the source code on Fintech.ca.

Small Businesses Struggle to Combat Rising Cybercrime in Canada

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Cybercrime in Canada has surged by over 600% since the pandemic’s onset, disproportionately affecting small businesses.

A Mastercard survey reveals their struggle to invest in cybersecurity due to limited resources and a lack of expertise in recovery post-cyber attacks. Only a small fraction feel confident about recovery steps.

Mastercard aims to educate and empower small businesses through the Cybersecurity Academy and partnerships with organizations like CFIB. Rebuilding trust post-breach is vital, with data protection and transparency being key factors.

Mastercard invests in diverse entrepreneurs and cybersecurity initiatives to foster a secure digital economy.

Want to know more? Check out the source code on Newswire.ca.