Fintech PR
Half of Gen Z and Millennial Canadians are more concerned about managing their finances amid COVID-19
Anxiety about money and personal finances is running high among young Canadians during the COVID-19 pandemic, according to a recent survey from Interac Corp. With over half of Gen Z adults and Millennials (53 per cent) reporting to be more concerned about managing their finances than ever before, these generations are using digital payments to track their spending and say paying with debit helps them feel in control.
“The adoption of digital payments has accelerated over the course of the pandemic for reasons beyond convenience alone,” said William Keliehor, Chief Commercial Officer, Interac Corp. “In fact, our research reveals that younger Canadians value digital payments for the insight they provide into their spending habits and are turning to debit payments as a money management tool.”
According to the survey, young Canadians’ fears of overextending themselves financially are heightened (50 per cent of Millennials; 47 per cent of Gen Z adults), as compared to Baby Boomers (31 per cent) and the Silent Generation (36 per cent). In this context, staying within budget is a key focus, and half of Millennials and Gen Z adults (50 per cent) are using digital payments to keep track of their spending in real time.
This mindset is reflected in the way young Canadians are using the Interac e-Transfer® service to split bills, share costs and keep a record of their spending. For example, nearly six in ten Gen Z adults (57 per cent) and half of Millennials (50 per cent) have relied on the service during the pandemic to receive money or pay others back for everyday errands such as grocery shopping. This has contributed to a 55 per cent growth in overall Interac e-Transfer transactions between April-August 2020, in comparison to the same period last year. A total of over 66 million Interac e-Transfer transactions took place in August 2020 alone1.
The broader role of debit in personal financial management is apparent. Seven in 10 Millennials (72 per cent) and nearly two thirds of Gen Z adults (65 per cent) believe that Canadians should have the option to use debit no matter if they are checking out online, making an in-app purchase or paying in store. These generational cohorts report that using debit makes them less likely to buy something they don’t need (52 per cent of Millennials; 57 per cent of Gen Z adults) and allows them to feel in control of their money (56 per cent; 48 per cent respectively). In turn, 67 per cent of Millennials and 59 per cent of Gen Z adults say being in control of their spending lets them feel more optimistic for their financial future.
“The research findings speak to the positive role that digital payments can play in giving Canadians a sense of everyday financial control at a time of great uncertainty. As the fintech community continues to innovate, it’s critical that ability for Canadians to use their own money remain a priority,” added Keliehor.
Other key findings from the survey include:
- More than six in 10 Millennials (64 per cent) and almost six in 10 Gen Z adults (58 per cent) increased the frequency of their use of digital payments during the pandemic
- Almost half of Canadians (46 per cent) say their use of the Interac e-Transfer platform has increased during the pandemic. Currently, five in 10 (52 per cent) are using the Interac e-Transfer service at least twice a month, versus nearly four in 10 (39 per cent) prior to the pandemic
- Over half of Millennials (58 per cent) and Gen Z adults (54 per cent) are spending more on essentials but less on discretionary purchases than they did pre-pandemic
- Half of Millennials (53 per cent) say the pandemic has made them more cautious about going into debt
- Looking to the future, six in 10 Gen Z adults (62 per cent) want to take more control over their spending post-pandemic, while 63 per cent of Millennials intend to make their finances more resilient in case another crisis occurs
Use of Interac products during the COVID-19 pandemic
- Usership of the Interac e-Transfer service is at an all-time high, with the number of monthly senders growing by 18 per cent and recipients growing by 16 per cent since February 2020.
- 325 million Interac e-Transfer transactions took place between April-August 2020, increasing from 210 million in the same period in 2019
- In addition to using the service to share costs for everyday errands, the survey shows Canadians are turning to the Interac e-Transfer platform to send money to friends or family members in need during the pandemic (33 per cent), and to pay for purchases in online marketplaces (24 per cent)
- Increasingly, businesses are also using the platform to accept payments for services and pay their bills. For example, 21 per cent more businesses were receiving Interac e-Transfer transactions in August, than in February 2020.
- Meanwhile, payment transaction records show that after an initial dip in spending in mid-March, Interac Debit use has increased by 66 per cent in August as compared to April 2020. Interac Flash (contactless debit) transactions have increased by 74 per cent in the same period. For example, Interac Flash transactions are up 85 per cent in restaurants and other eating places including fast food outlets, and 44 per cent in grocery stores and supermarkets within this period.
Healthcare Holding Schweiz AG, a leading service provider and distributor of medical devices in Switzerland, is expanding its portfolio with the acquisition of Effectum CH-Rep AG. Healthcare Holding Schweiz is managed by Winterberg Advisory GmbH.
BAAR, Switzerland, March 17, 2025 /PRNewswire/ — Healthcare Holding Schweiz AG has successfully completed the acquisition of Effectum CH-Rep AG. This transaction marks a carve-out of all services provided as Swiss Authorized Representative (CH-REP) from Effectum Medical AG. Under the Medical Devices Ordinance (MedDO SR 812.213) effective since May 26, 2021, manufacturers of medical devices without a registered office in Switzerland must appoint a CH-REP to distribute their products within the country. Through this acquisition, Healthcare Holding Schweiz AG strengthens its position as a comprehensive partner for medical technology manufacturers worldwide. With its group of companies, it can now provide integrated services that encompass not only import and distribution but also full compliance with regulatory requirements.
Fabio Fagagnini, CEO of Healthcare Holding Schweiz, expressed his enthusiasm for the acquisition: “With Effectum CH-Rep, we are expanding our service portfolio to include the role of Swiss Authorized Representative, thereby strengthening our growing group. This allows our sales representatives and managing directors to focus even more on innovative products and exceptional customer service, with the assurance that all regulatory requirements are being professionally met.”
Kim Züger, Head of Quality Management & Regulatory Affairs and the newly appointed Director of Effectum CH-Rep, emphasized: “Regulatory compliance is our top priority. Through Effectum CH-Rep, we offer this service not only to suppliers of Healthcare Holding Schweiz but also to numerous other manufacturers—a clear testament to our professionalism and high-quality standards.”
Michael Eggimann, Board Member of Effectum Medical AG and responsible for the sale of Effectum CH-Rep AG, added: “We have valued working with Fabio Fagagnini and his team for many years and are confident that Effectum CH-Rep is in excellent hands. This transition allows us to fully concentrate on the further development and distribution of our Legal Manufacturing offering as well as our innovative plug-and-play quality management system, while continuing to collaborate closely with Effectum CH-Rep for the benefit of our customers.”
About Effectum CH-Rep AG
Effectum CH-Rep AG, based in Olten, facilitates access for foreign manufacturers of medical devices to the Swiss market by acting as the Swiss Authorized Representative (CH-REP). As a CH-REP, Effectum CH-Rep AG takes on responsibilities such as ensuring compliance with Swiss registration requirements, collaborating with Swissmedic on preventive and corrective actions, providing a Person Responsible for Regulatory Compliance (PRRC), guaranteeing access to technical documentation, and reporting incidents and complaints.
About Healthcare Holding Schweiz AG
Healthcare Holding Schweiz AG is a Buy, Build & Technologize platform and a leading provider of medical technology products and services in Switzerland. The group is based in Baar and pursues an ambitious growth strategy through acquisitions, often in the context of succession arrangements, partnerships, and organic growth. Healthcare Holding Schweiz and its group companies are committed to the highest standards of innovation and customer satisfaction. The group consistently leverages technology to make business processes safer and more efficient. As a market leader, the company sets new standards for the industry and offers employees attractive development opportunities. All of the management team holds shares in Healthcare Holding Schweiz, thus forming a dynamic community of entrepreneurs.
About Winterberg Advisory GmbH and Winterberg Group AG
Winterberg Group AG, based in Zug, operates as an independent family office for its founders. Winterberg mainly invests in SMEs in the German-speaking region, and selectively considers investments in startups and real estate. Winterberg Advisory GmbH is a general partner and fund manager regulated by the German BaFin. Winterberg Advisory has launched numerous private equity funds and is invested in Healthcare Holding Schweiz AG through its funds Winterberg Investment VIII and Winterberg Investment IX. The two Partners and Executive Directors, Fabian Kröher and Florian Brickenstein, manage Healthcare Holding Schweiz AG via its board of directors.
For press inquiries, please contact presse@healthcare-holding.ch
For more information about Dental Axess AG, visit www.effectum-chrep.com
For more information about Healthcare Holding Schweiz AG, visit www.healthcare-holding.ch
For more information about the portfolio companies of Healthcare Holding, visit www.senectovia.ch, www.winthermedical.ch, www.mikrona.ch, www.orthowalker.ch, www.mcm-medsys.ch, www.naropa-reha.ch, www.mvb-medizintechnik.ch, www.dentalaxess.com
This press release is issued and distributed by Winterberg Advisory GmbH on behalf of Healthcare Holding Schweiz AG.
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View original content:https://www.prnewswire.co.uk/news-releases/healthcare-holding-schweiz-acquires-effectum-ch-rep-switzerland-302402122.html
PARIS and LONDON, March 17, 2025 /PRNewswire/ — iM Global Partner (iMGP) has announced it will enter the European Active UCITS ETF market with the launch of a European Managed Futures UCITS ETF, the only one available on the market, the iMGP DBi Managed Futures Fund R USD ETF.
This Active UCITS ETF has been listed on the Euronext stock exchange in Paris and will soon be available on the London Stock Exchange listed in sterling.
The iMGP DBi Managed Futures Fund R USD ETF will mirror the world’s largest Managed Futures ETF, US-listed iMGP DBi Managed Futures Strategy ETF. Both are managed by iMGP’s partner, DBi, experts in hedge fund replication. The US-listed ETF trades under the Bloomberg ticker DBMF:US, while the European UCITS ETF share class is listed under DBMF:FP.
This alternative strategy aims to replicate the pre-fee performance of a representative basket of leading managed futures hedge funds and has attracted interest from a wide variety of investors.
The UCITS ETF expands our existing offering of the iMGP DBi Managed Futures Fund and gives clients the opportunity to access the managed futures space through their wrapper of choice.
The European Active UCITS ETF market has grown steadily in recent years, with these products considered the next generation of portfolio building blocks. iM Global Partner has an active pipeline and plans to bring additional active UCITS ETFs to market in the coming months. iM Global Partner has already built up significant experience in the actively managed ETF market via its US operations and has a number of other ETFs covering multiple Partners and asset classes.
iMGP Founder and CEO, Philippe Couvrecelle, said: “After several years of offering actively managed ETFs in the USA, we are delighted to bring this offering to European investors. Our ability to respond to market opportunities demonstrates our commitment to providing innovative, cutting-edge products for all our clients, wherever they are based.”
Andrew Beer, Co-Founder DBi, added: “Managed Futures ETFs are becoming a big thing in the US so we are proud to partner with iMGP to launch DBMF:FP in Europe. This launch highlights the success of our model. Managed futures are one of the few alternative strategies where there are indisputable diversification benefits.”
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CONTACT: media@imgp.com
View original content:https://www.prnewswire.co.uk/news-releases/im-global-partner-enters-the-active-ucits-etf-market-in-europe-302402023.html
BEIJING, March 17, 2025 /PRNewswire/ — This is a report from China.org.cn:
The 2025 Global Digital Economy Conference (GDEC)’s International Cooperation Forum series was held in Barcelona, Spain, on March 4.
Themed “Integration, Innovation, Win-Win: Co-creating a New Blueprint for the China-Europe Digital Economy,” the Digital Economy Cooperation Forum was hosted by the GDEC Organizing Committee, and organized by the Beijing Municipal Bureau of Economy and Information Technology (BMBEIT).
The event attracted more than 150 government representatives, corporate executives, industry association leaders from China, Spain and other European countries, and more than 60 overseas companies and institutions participated in it.
Jiang Guangzhi, the BMBEIT chief, delivered an opening speech in the form of digital human. In his address, Jiang said that the capital city of China, as a pioneer in the global digital economy, actively implements the national digital economy development strategy, and Barcelona, as the core hub of the European digital economy, has obvious advantages in science and technology industry clusters. The two cities have broad prospects for cooperation in the field of digital economy.
On the sidelines of the forum, BMBEIT also held a business and investment promotion activity called “Night of Beijing” in the Spanish city.
Relevant persons in charge of the BMBEIT promoted Beijing’s leading digital technology solutions in key digital economy industries such as autonomous driving, smart logistics, smart home, digital healthcare, and value-added telecommunications, combining core technologies, application scenarios, international promotion, and effectiveness cases.
Additionally, Lu Yiji, Chairman of the China-Europe Digital Association, Ignasi Castelló, Chief Purchasing Officer of FICOSA International Spain, Li Kang, Senior Vice President of China Telecom International, and Zhang Genxue, General Manager of Beijing Digital Economy Enterprises Overseas Innovation Service Base, each presented the current state and trends of digital economy development from different perspectives, providing valuable experiences and insights for enterprises and institutions.
The GDEC has been successfully held for four sessions since 2021. It is committed to promoting more comprehensive international cooperation in the digital economy industry and promoting the friendly and sustainable development of the global digital ecology. The 2025 GDEC will be held in Beijing in July.
Digital economy focus of China-EU cooperation: forum
http://www.china.org.cn/business/2025-03/06/content_117750616.htm
View original content:https://www.prnewswire.co.uk/news-releases/digital-economy-focus-of-china-eu-cooperation-forum-302402825.html
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