Canadians on the Leading Edge of the Online Retail Payment Revolution

Date:

Share post:


Photo: http://ellabb.comPhoto: http://ellabb.com

Photo: http://ellabb.com

August 13, 2014

A recent report from Forrester Research predicts that Canadian online retail spending will climb to $33.8 billion in 2018 from $20.6 billion in 2013, an annual increase of over 12 percent. The growth of online retail spending in Canada, although impressive, has been constrained by three main factors – high shipping costs, the availability of preferred payment methods and security. That’s where companies like Optimal Payments, who process online payments for retailers, play an important role in addressing the needs to support Canadians’ ever growing appetite for online shopping.


Montreal-based luxury brand Mackage is a loyal Optimal Payments customer. Photo: Mackage. Montreal-based luxury brand Mackage is a loyal Optimal Payments customer. Photo: Mackage. 

Montreal-based luxury brand Mackage is a loyal Optimal Payments customer. Photo: Mackage. 

Through its NETBANX® payment gateway and acquiring service, Optimal Payments offers customers a variety of payment options and ensures protection from both fraud and security breaches.

An important component of NETBANX’s services is its proprietary Risk Rules Engine, a solution that provides a range of flexible rules to meet the needs of a broad range of etailers, from volume-priced to high-end, thereby making it an integral part of its customized fraud solution. Once a merchant begins processing transactions, the platform’s systems are continuously refined to ensure maximum approved transactions and minimum fraud. Optimal Payments provides additional safeguard tools such as address verification, negative database matching, velocity monitoring, Internet Protocol (IP) and Bank Identification Number (BIN) validation, device intelligence and tokenization. 



The Company has assisted a number of Canadian etailers tackle the issues of preventing fraud and meeting the needs of a rapidly expanding online market. Mackage, a Montreal-based company specializing in the design and manufacturing of luxury outerwear, chose Optimal Payments to provide a fully integrated payment and fraud-management solution. Since the launch of their online store in September of 2013, Mackage has minimized their losses from fraud while providing their customers with an enhanced checkout experience. In only two years, etailer Beyond the Rack has expanded from a standing start to more than $100 million in sales and was recently recognized as North America’s fastest growing online retailer. Beyond the Rack selected Optimal Payments to handle its online payments as well as its credit and refund processes. “We’ve seen a significant expansion in our business, and Optimal Payments has played an instrumental role helping us drive that growth,” says Yona Shtern, CEO, Beyond the Rack, “We could not have done it without Optimal Payments’ support or their NETBANX service: they’re fully integrated into our finance system and shopping cart, and they’re an integral part of our value chain.” 


Beyond the Rack: North America's fastest growing online retailer. Beyond the Rack: North America's fastest growing online retailer. 

Beyond the Rack: North America’s fastest growing online retailer. 

Optimal Payments is expanding its ecommerce offerings and network. In the first week of July, the Company announced a significant expansion into the U.S. online payments market with the acquisition of Meritus Payment Solutions, a California-based payment processing firm with a U.S. merchant portfolio of 8,000 high growth small and medium businesses and established U.S. bank relationships. Meritus’ strong stakeholder relationships, multi-channel sales force, established presence with small- and mid-sized businesses in the U.S. and entrepreneurial spirit make them an ideal acquisition for Optimal Payments. This combination brings together two of the fastest growing companies in the dynamic online payment processing sector.  This larger network and established bank relationships will enable Optimal Payments to offer online shoppers more payment options.  


President and CEO Joel LeonoffPresident and CEO Joel Leonoff

President and CEO Joel Leonoff

Optimal Payments processes approximately US $15 billion annually in more than 200 countries and territories with over 100 types of payment and multi-currency options. The Company is led by President and CEO Joel Leonoff, a Montrealer. In 2000, Joel was recognized by the Globe and Mail’s Canada Top 40 under 40 award, honouring Canadians for their vision, leadership, innovation, achievement, and community involvement. Joel was also named CEO of the Year at the 2014 U.K. Stock Market Awards which rewards companies and individuals that are judged to have contributed the most to shareholder value. Earlier this year, Optimal Payments was selected by its customers as the Best Ecommerce Platform/Gateway Award at the Card-Not-Present (CNP), a testament to the Company’s commitment to best-in-class service. In addition to offices in London, Cambridge, Isle of Man, Sofia and New York, Optimal Payments has three rapidly growing offices in Canada — Montreal, Calgary and Gatineau, Quebec. 

This is a great Canadian success story – a digital payment company making it easier and safer for Canadian etailers to conduct business regardless of whether they are selling their products and services domestically or internationally.   

Today’s retail news from around the web: August 13, 2014

RELATED ARTICLES

Subscribe to the Newsletter

Subscribe

* indicates required

RECENT articles

MadHatters poised for continued growth

The new store has been designed around a simple philosophy: keep a good store, a happy ambiance, and happy staff, so customers have fun while they shop.

Canadian Restaurants Avoid Broad Food Tariff Hit as Supply Costs Face Pressure

Restaurants Canada welcomes Ottawa’s targeted tariff approach, but new duties on packaging, equipment and selected foods could add costs for operators.

Knix Opens First Atlantic Canada Store in Halifax as Retail Expansion Continues

Knix has opened its first Atlantic Canadian store at Halifax Shopping Centre as the Toronto-based intimates brand continues expanding its physical retail network.

Cadillac Fairview’s It’s Better in Real Life campaign targets today’s consumers

New consumer research suggests shoppers are looking for more than just stores, with nearly one-third of visits to its properties now driven by social reasons such as meeting friends or spending time together.

IKEA study finds household clutter creating tension as living spaces get smaller

The IKEA Store & Organise Report 2026: Finding Meaning in the Mess surveyed 31,488 people across 31 markets and found that 38 per cent of homes have someone who leaves things out with the expectation that another person will deal with them.

Canadian Retailers Face New Cost and Sourcing Pressures from U.S. Counter-Tariffs

Canada’s $27.6-billion counter-tariff package targets 874 U.S.-origin goods, creating new pricing, margin and sourcing challenges for Canadian retailers.

Birks names Sophie Nélisse brand ambassador as it launches new national campaign

Nélisse, who was born in Montreal and is known for her performances in Yellowjackets and Heated Rivalry, said the brand has been familiar to her since childhood.

Daily Synopsis: August 25, 2026

Loblaw backtracks on dropping country-of-origin produce labels, cosmetic tariffs threaten beauty, fashion and other sectors, Criterion opening video storefront in Toronto, shop-Canada app surges amid trade war, and other news.

Canada announces $27.6B in counter-tariffs on U.S. goods as retailers, restaurants and small businesses weigh impact

“Canada’s retail sector will shoulder a significant share of this burden, with so many essential consumer goods targeted."

Toronto’s Woodbine Mall and Fantasy Fair getting a roller rink this fall

The concept has opened more than 15 pop-ups in vacant retail spaces across the GTA and welcomed more than 250,000 skaters since 2021.

Evening Coffee Orders Nearly Triple in Canada as Restaurants Tap New Beverage Trend: Lavazza

Coffee is no longer just a morning ritual. Restaurants across Canada are finding a new use for their espresso machines well after the dinner rush.

Canadian SMEs remain optimistic but take more cautious approach to hiring and AI investment: Employment Hero

The survey suggests businesses are increasingly looking at AI as a tool for day-to-day operations rather than simply experimenting with the technology, with productivity and efficiency among the stated priorities.

Back-to-School lunch basket falls 2.8%, but relief may be temporary: report

Promotions are easing costs for families, while seasonal pressures and geopolitical risks could push some prices higher by December

Maureen Simon Foods launches Rolliis in 7-Eleven stores across Canada

The company said the products are being introduced across the convenience-store chain as it seeks to bring its lineup of Caribbean-inspired foods to a wider Canadian customer base.

Toronto Waterfront Looks to Events and Activation as District Builds Toward 2035

Waterfront BIA is mapping a new events and activation strategy as transit, development and commercial growth reshape Toronto’s waterfront through 2035.

Most Canadian small businesses unaware of new open banking law: Xero survey

Eighteen per cent of respondents said they currently share their online banking username and password with an accountant, bookkeeper, employee or software tool. Twenty-two per cent said they had done so at some point.

Arc’teryx Sees Potential for 200 Stores in North America as Expansion Accelerates

Arc’teryx sees potential for roughly 200 stores across North America as the Vancouver-founded brand expands retail, women’s and footwear.

Canadian Retailers Push Sustainability Deeper Into Operations as Business Case Evolves

Canadian retailers are integrating sustainability into stores, logistics, packaging, resale and supply chains as regulation and business economics evolve.

Daily Synopsis: August 24, 2026

Canadians still head to malls, Ilia Beauty grows out of Vancouver roots, Reformation opening at CF Toronto Eaton Centre Sept. 1, Toronto camera store closing after 25 years, and other news.

Casavogue Highlights Made-in-Italy Design from Calligaris

Casavogue showcases Calligaris, the Italian furniture brand known for refined extendable dining tables, elegant chairs and Made-in-Italy craftsmanship.