This week's research from CCUA's Competitive Intelligence Update examines expansion at two Canadian consumer fintechs, TD’s foray into e-commerce, and the implications and risks of TD facing off against Shopify. It also discusses the new mortgage rules, looking at their potential impact on sales, prices, and housing supply. Below is a snapshot of TD's new e-commerce platform:

TD’s foray into e-commerce

TD has partnered with BigCommerce to launch a new e-commerce platform that allows small businesses to sell products and services online as well as accept payments.

Building on TD’s payment processing services, the new platform blurs the line between traditional banking and digital financial service providers, providing an integrated solution that combines banking services with online store capabilities and ecommerce functionality. TD promises customizable webstore design tools, inventory and order management, search engine optimization, fraud detection, and payment solutions.

The move marks a first for a Canadian bank as TD enters a space dominated by Canadian online giant Shopify. These giant tech companies like Shopify, Lightspeed, and Square have already expanded into financial service offerings. Known for its webstore-building tools, Shopify earns most of its revenue from the payments part of its business.

Implications, potential benefits, and risks are discussed.

For a deeper dive into this article and more, read this week’s issue of Competitive Intelligence (CI) Update. 

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