Finalists announced for Canada's FinTech Cup

Five Canadian startups will compete for $25,000 in prizes on June 15 in Calgary

Ottawa, ON - (June 8, 2016) - Five FinTech startups will compete for Canada's inaugural FinTech Cup on June 15 in Calgary at the 2016 Payments Panorama Conference.

The Canadian Payments Association and the Digital Finance Institute today announced the five finalists (in no particular order):

A representative from each Canadian FinTech startup will have five minutes to make their pitch to win $20,000 and Canada's first FinTech Cup. The competition will get underway on June 15 2:15pm at the Metropolitan Conference Centre, Calgary with the first ($20,000), second ($3,000) and third ($2,000) place winners announced at the conference reception that evening.

"We have a rapidly changing payments ecosystem and establishing the FinTech Cup at Payments Panorama 2016 is a great way to bring new and well-established players in the sector together." said Justin Ferrabee, Chief Operating Officer for the Canadian Payments Association.

"The Canadian FinTech space is growing by leaps and bounds. This kind of exposure for young Canadian startups to showcase their concepts and plans is incredibly valuable and important if we want to nurture this industry in our country." said Christine Duhaime, Executive Director, Digital Finance Institute

Joining Ms. Duhaime and Mr. Ferrabee on the jury are FinTech veterans Darrell McMullin, CEO, Goldmoney; Mike Sigal, mentor, 500 Startups and Doug Steiner, Chief Executive Officer, Evree Corp.

About the Canadian Payments Association:

The Canadian Payments Association (CPA) ensures that financial transactions in Canada are carried out safely and securely each day. The CPA underpins the Canadian financial system and economy by owning and operating Canada's payment clearing and settlement infrastructure, including associated systems, by-laws, rules and standards. The value of payments cleared and settled by the CPA in 2015 was nearly $50 trillion, or $197 billion every business day. These encompass a wide range of payments made by Canadians and businesses involving inter-bank transactions, including those made with debit cards, pre-authorized debits, direct deposits, bill payments, wire payments and cheques.

About the Digital Finance Institute:

The Digital Finance Institute is a think tank created for the next generation of financial services. DFI addresses issues in respect of the nexus between financial innovation, digital finance policy and regulation, financial inclusion and women in financial technology.