Canadian debit network Interac has opened an innovation outpost and accelerator at Communitech, a tech hub based in the city of Kitchener, Ontario.
The Interac Lab will focus on research and development, working on new payment capabilities and improving the way people and businesses move money.
It will also explore the future of payments, testing new technologies such as voice, the Internet of Things, AI and blockchain.
Tricia Gruetzmacher, director, Interac Lab, says: "The knowledge-sharing that comes with being a part of Communitech is invaluable to our co-op students and team, and hopefully to the others throughout the space.
"Collaborating daily with others in the tech community helps us stay nimble and agile as we create and test use cases that will accelerate our product development."