Today In Payments Around The World: Porsche Provides Parking Payment Option In Australia; Toronto Experiences Warehouse Shortage

In today’s top payments news around the world, Porsche drivers in Australia have new choices when it comes to parking in Melbourne, while the vacancy rate of warehouse space in Toronto has dropped to just 0.5 percent. Plus, Meridian and Accord Financial Corp. have collaborated on financing for Canadian small- to medium-sized businesses (SMBs).

Porsche Debuts In-Car Parking, Pay Option In Australia

Those who drive Porsches in Australia now have new choices in terms of parking in Melbourne. To that end, they can be directed to available parking, gain entrance to parking and conduct touch-free payments for parking via the touchscreens of their vehicles through the automaker’s smart parking tech. Owners first need to register for and download the Porsche Park app. They will also need to add their preferred payment method to use touch-free parking payments.

Canada Sees Warehouse Space Shortage Amid eCommerce Boom

The vacancy rate of warehouse space in Canada’s biggest city, Toronto, has decreased to only 0.5 percent. Richard Kunst, a logistics consultant, told Bloomberg that one customer has needed to pack some of its orders in a parking lot. He’s recommended that others converse with farmers about renting their fields. “It’s cheaper to go to a farmer and say, ‘Tell me how much you’re going to make off a crop on a 5-acre lot, and I will pay you that, plus 10 percent in order to drop containers here,” Kunst said.

Meridian, Accord Financial Team On Financing For Canadian SMBs

Meridian and Accord Financial Corp. have teamed to provide more financing choices to SMBs. The tie-up will offer faster access to financing for small Canadian companies and loans of up to $20 million for more sizable firms looking for capital. “Our partnership with Accord Financial, a dynamic, trusted and longstanding commercial finance leader, complements our existing suite of products and expands our breadth of offering,” Kevin VanKampen, vice president of Business Banking at Meridian, said in an announcement.

Read More International News:

Latin America’s Informal Economy Becomes FinTech’s Biggest Opening

Brazil FinTech PicPay Files for US IPO as Profits Surge

US Puts Tech Deal With UK on Hold

EU Banks Increase Their Dependence on American Dollars