BankingBusinessFinTech

Beacon Launches Digital Wallet for Immigrants Moving to Canada

  • Toronto-based fintech Beacon is set to launch Beacon Money, Canada’s first digital wallet dedicated to new international residents, in January 2025.
  • The wallet simplifies account setup for immigrants, requiring no Canadian ID, local address, or credit history. It supports bill payments, salary deposits, and Interac e-Transfers.
  • Users can activate their wallet up to six months pre-arrival to start managing their finances before moving.
  • Indian users can link Beacon Money with Beacon Remit, a service enabling pre-funded transfers to Canadian accounts before departure.
  • Powered by Visa prepaid cards, Beacon Money ensures seamless global transactions online, in-store, and at ATMs.
Previous article
Minu Secures $30M Series B to Expand Wellness Platform in Mexico
Next article
Nationwide Transitions to HPE GreenLake Hybrid Cloud Platform
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

FinTech

Danske Bank Restricts Customer Data Access Following Address Leak

Danske Bank acts after sensitive customer details exposed to payment recipients.Highlights: Danske Bank reveals a data leak of...
FinTech

Fintech Veteran Launches Primitive AI Agent Operating System

A groundbreaking platform for AI-driven financial services is unveiled.Highlights: Primitive AI, led by a fintech veteran, introduces a...
FinTech

Visa Launches Validator Node on Tempo Blockchain, Strengthening Payments Infrastructure

New validator node aims to boost transaction efficiency for Visa services.Highlights: Visa launches a new validator node on...
FinTech

Amex Launches Agentic Commerce Development Kit to Strengthen Merchant Services

New toolkit aims to enhance payment solutions for businesses.Highlights: Amex unveils Agentic Commerce Development Kit for merchants.The toolkit...