As the world is well aware, this past Friday, a devastating earthquake measuring 8.9 on the Richter scale rocked the country of Japan. As Thomas H. Maugh II reported in the Los Angeles Times on the day of the quake, the magnitude of the earthquake makes it the biggest in the nation’s history.

The earthquake, which unleashed a tsunami, has ravished Japan’s coastline leaving hundreds dead and thousands more missing. Reminiscent of the earthquake taking place in Chile last year, this natural disaster has already caused immeasurable destruction in the Japan Trench. This is the area where the Pacific tectonic plate slides under the Japan plate.

Following the horrific earthquake were two aftershocks with magnitudes of more than 7. Maugh notes that researchers are expecting more to follow. Seismologist Susan Hough commented that the quake was a “perfect storm for tsunami generation.” Taking place just 130 kilometres offshore, it gave people on land next to no warning that major tidal waves were on the way.

Newscasts on nearly every television station broadcast images of the immense flooding and fires that broke out throughout Japan during the weekend. A nuclear power plant was seen ablaze and was set to explode. It is evident that, at this time, the worst of the earthquake/tsunami in Japan is yet to come.

The immense magnitude of the quake sent waves as far as the shores of the United States. Hough advised in Maugh’s article that “given the size of the tsunami near the epicentre, if I were in a low-lying area, I would get out of the way.” The death toll, at this time, is not exact but the numbers are expected to escalate in the coming days.

As massive as this quake was, Maugh noted that in the past century there have been even greater quakes. He writes: “The Indonesian earthquake that produced the Indian Ocean tsunami on Dec. 26, 2004, was a magnitude 9.1. The largest quake on record was the 9.5 temblor that struck Valdivia, Chile, in 1960.”

As the Synergy Merchant Services Blog did during the Chile earthquake crisis of last year, we will continue to monitor the situation in Japan and provide details as to how you may assist with the relief effort over the coming weeks. Our concerns and well-wishes are most certainly with the people of Japan at this time.

Today, in the provinces of Alberta, Saskatchewan and Ontario, Canadians are observing a statutory holiday known as “Family Day”. Alberta was the first to observe the third Monday in February as a holiday back in 1990. Neighbouring Saskatchewan finally followed suit in 2007, with Ontario jumping on board in 2008.

With an extra day off work to spend time with your family, we’d like to take the opportunity today to remind you of some of the fun and inexpensive ways that you can make the most our of your day. As Carolyn McTigue wrote in her special to QMI Agency last week, there are tons of fun things you can do for free.

Sledding is her first suggestion. For Canadians, making the most out of the winter weather is a common practice. This, of course, is a great time for the kids and naturally doesn’t cost a penny. McTigue notes that even the sleds themselves don’t have to cost you anything. “Try using garbage bags, cardboard, and other household items to see which slides the farthest,” she writes.

For those looking to stay in from the cold to enjoy the day off school or work, you may want to try your hand at baking. Everything from chocolate chip cookies to a holiday cake would be fun to create. As well, getting the kids involved in something that they can learn from and be proud is always a good way to spend the day. Check out Allrecipes.com, suggests McTigue.

How about making a movie? Grab a video camera and have everyone in the family work together on coming up with a funny script. Your house is bound to have a variety of props and costumes that can be used for this unique activity. Then again, if you would prefer to keep things more relaxed, reading a book with your kids is always an ideal choice.

The age-old board game may be a good decision as well. For the most part, kids today would prefer to be in front of a computer or television playing video games. Keeping in mind that the spirit of today’s holiday is to spend more time with family, it is the perfect opportunity to show your family that you can all have fun together.

Perhaps, McTigue’s best suggestion is to write a letter. Sure, we can all e-mail and chat online everyday. But taking the time to connect with family members who you do not see regularly may be the most rewarding way to spend Family Day this year. Reach out to those loved ones and let them know how much they mean to you. It’s the perfect day to do it.

Earlier this week, we blogged about the upcoming UFC event at Toronto’s Rogers Centre. Slated for April 30th, UFC 129 will mark the first major mixed martial arts event in the history of Ontario. At this time last year, Ontario Premier Dalton McGuinty was insisting that legalizing the sport of MMA in the province was not a priority.

Both fans and organizers of the sport were not deterred. UFC President Dana White had predicted that by the end of 2010, mixed martial arts would become legal in Ontario, which is considered one of the biggest MMA markets in the world. Today, just about six months after Ontario legalized the sport, tickets for its first big show sold out within a few short hours.

As QMI Agency’s Morris Dalla Costa reports today, pre-sale tickets for UFC 129 went on sale and 42,000 seats were sold. It was reported earlier this week that there were plans to seat approximately 40,000 people at the Rogers Centre for the huge event on April 30th. This means that the show has been sold out even before tickets have officially gone on sale!

Needless to say, this has made many an MMA fan miffed at the prospect of missing out on going to the show. In our blog from this past Wednesday, we noted that Dana White informed a crowd of fans at press conference in Toronto that tickets would be going on sale this weekend.

For anyone denying the massive popularity of the sport – especially in Ontario – Dalla Costa reveals some staggering figures. Tickets ranged in price from $50 to $800. Some fans paid a $90 premium to join a fan club just for the opportunity to have a “first crack” at buying tickets.

Montreal’s Bell Centre, which has held a number of UFC events in the past, have all sold out to the tune of nearly 22,000 fans. The Rogers Centre show will, by far, dwarf the size of any previous MMA show held by UFC. Calling Ontario the “mecca” for mixed martial arts earlier this week, White certainly knew what he was talking about.

One of the main arguments on behalf of the sport’s legalization in the province of Ontario has to do with the economic impact that it would have. With so many fans picking up tickets so quickly, it is evident that fans of the sport from this region are willing to spend their money to take in a live show.

Not to mention, with Canadian fighters such as Georges St-Pierre and Mark Hominick on the Toronto card, there is no doubt that much more money will be spent in the downtown core by fans coming from far and wide to see their favourite fighters compete. Hominick commented on the excitement in Toronto about the upcoming event at the press conference earlier this week.

“There was a fan meet and greet at 4 o’clock and people were lining up outside in the cold from 10 a.m. just to get an autograph,” he recounts, “They finally had to shut the doors. I felt bad. People were waiting outside and we had to stop because we had to go somewhere else. It was insane.”

As it states on their website, “CRFA works to ensure that government understands and values the tremendous contribution our industry makes to the economy and social fabric of Canada. We also make sure your voice is heard on important issues ranging from taxes to dairy prices.”

Being proud members of the Canadian Restaurant and Foodservices Association, Synergy Merchant Services can testify to the great work that they do on behalf of all of their members. And as we’ve been pretty clear about lately, we look forward to meeting with many of those members, between March 6th and 8th, this year at the annual CRFA Show at Toronto’s Direct Energy Centre.

Today, however, QMI Agency reports yet another step that CRFA will be taking on behalf of its members. According to the report, restaurants and pizza chains across Canada are complaining about a new hike in dairy prices. This increase is making it more difficult for these food providers to compete with the frozen food market, says CRFA.

QMI reveals that the Canadian Dairy Commission intends to raise the price of industrial milk by 1.5 per cent today. Of course, the main ingredient in such products as cheese, yogurt, butter and ice cream, milk is pretty much a necessity in restaurants throughout the country.

As a result, restaurants will be paying more for the cheese they use for pizzas, for example, than what frozen pizza makers must pay under the dairy supply management system. Thankfully, the CRFA has long been known as an organization that fights to level the playing field in such situations for the restaurant and foodservices industry.

Explained Garth Whyte, the president and chief executive of the Canadian Restaurant and Foodservices Association: “When restaurant owners buy cheese, they are forced under the supply management system to pay prices that are 30% higher than frozen-pizza makers pay for the exact same product. This latest price hike from the CDC will make it even harder for our members to compete.”

The QMI report goes on to note that restaurateurs are also at a disadvantage because of the 13 per cent harmonized sales tax charged on restaurant bills. Meanwhile, frozen food purchases are not hit with HST. The CDC has noticeably increased the price of industrial milk by 60 per cent since 1994. Meanwhile, milk production has only grown by 6 per cent.

This discrepancy is sure to be something that the CRFA will look further into when taking this matter to higher levels in order to create a compromise or resolution of some kind. As always, we fully support their undertakings and recommend that if you are in the restaurant or foodservices industry, you strongly consider membership with CRFA.

During the dog days of winter, many workers look forward to the end of each work day and eventually the end of the work week. Those approaching the age of 65, however, are generally looking towards the end of their careers. While most would love to enjoy the last years of their work life and ride off into the sunset to a life filled with vacationing, this seems to be happening less in Canada.

Earlier today, QMI Agency reported that many Canadians are working past the age of 65. According to a recent Statistics Canada report, 40 per cent of those who choose to keep working past the age of 65 do so because they simply do not have enough money saved. One statistic revealed that approximately one third of seniors who remain working still had mortgages on their homes.

Although this would indicate that many Canadians are being forced to work well into their retirement-aged years, the StatsCan study found that many choose to work out of preference, not necessity. For the most part, still-working seniors work part time hours which usually amount to less than 30 hours a week.

Interestingly, the report notes that those who return to the work force past the age of 65 are “most likely to be in the top income bracket and have a high average level of education, though half of them said financial considerations did contribute to their decision to go back to work. Full retirement is more common for lower income Canadians.”

According to StatsCan, 60 per cent of fully retired people in 2009 were part of the two lowest income brackets in Canada. Only 30 per cent of workers who never retired were part of these low income brackets. So perhaps, the need for more money due to lack of saving enough for retirement is not the leading reason to keep working.

One would think that the less money you have, the more likely you are to work well into your retirement years. Strangely, the report also found that those who are completely retired experience worse general health than those who never retired. However, the medical concerns may have been a leading contributor to the retirement in the first place.

Evidently, this study calls to attention both the spending habits and health choices made by Canadians. Planning for a happy retirement clearly does not just mean saving enough money, but certainly maintaining a healthy lifestyle will allow one to properly enjoy their retirement years.

Today is a very special day at Synergy Merchant Services. It’s the (dare we say it?) 31st birthday of our Vice President of Marketing, John Meloche. Happy birthday big guy! Interestingly, it’s John who will be giving out the gifts today. If you weren’t already aware, Synergy will be back at this year’s CRFA Show between March 6th and 8th.

Taking place at Toronto’s Direct Energy Centre at Exhibition Place, this event should not be missed by any business owner. If you call John by February 14th, he will be happy to mail you a free pass to get into this amazing show. How’s that for a birthday gift? Be sure to visit John and the rest of the Synergy gang at booth 1009 once you’re there.

John also decided to give a gift to radio listeners in Toronto this morning. To start his birthday off, John decided he would call in to a popular radio station to divulge a hilarious, yet embarrassing story about being dumped by a neat freak many years prior. Everyone in the office got a big laugh out of hearing that on-air tale this morning.

Now as generous as John has always been, it’s only fair that his staff show their appreciation and offer up a few birthday wishes to the big man. It is, after all, his birthday today, so we suppose he does deserve to get a few gifts of his own. We’re sure anyone offering to take him to Duncan House – his favourite restaurant – will be thanked mightily, by the way.

Here, however, are some words from your friends from Synergy John: “Hey, happy birthday big man! You sure spend a lot of time giving the team motivational talks and encouragement and we really appreciate it. Here’s hoping you have an excellent birthday. So good, that you get drunk tonight so that you can’t show up for work tomorrow to give another one of those talks!” – Dan

“John Meloche – A.K.A. ‘Big Wheezy’ – is a fixture at Synergy, and with good reason. A powerhouse in his own right, John embodies the definition of a true sales person: ambitious, convincing & highly self-motivated. His “go get ‘em” energy is infectious, and never fails to inspire those around him to do the same.

He’s definitely got a big head – but has a heart to match – and an even bigger sense of humour! So on behalf of myself & all those at Synergy Merchants, I salute John on the momentous occasion of his 31st Birthday. May his special day and the years to come be filled with success, happiness, and lots of laughs!!!” – Sarah

“When our phones and internet go down, you’re there.
When our computers stop working, you’re there (to tell me to go fix it).
When we’re late for work, you’re there.
When we order pizza, you’re there.
When we send a job to the printer, you’re there.
When the power went out, you were there, somewhere.
When there is a joke to crack, you’re there.
And when it’s your birthday, you’re here? Really?
Happy Birthday!” – Momsad

At Synergy Merchant Services, we speak to Canadian business owners each and every day. Many of these individuals started their companies off with a dream. And while not all who have had this dream realize it, starting your own business is something that can be very rewarding if you put in the work to make it successful.

Some people dream of owning their own businesses so that they can work from home. Why get up early to go into the office every day if you don’t have to, right? Well, that’s not exactly a sentiment that is shared throughout Canada. At least according to QMI Agency’s Julia Skikavich and Sheena Goodyear.

Earlier today, they reported that most people actually prefer to clock in hours at the office rather than work from home. Based on a just-released Statistics Canada report, only 19 per cent of those polled work from home instead of at the office. Even though technology allows for more work to be done outside of the office, this hasn’t deterred employees from showing up at work.

Self-employed individuals, however, tend to work at home more often. According to StatsCan, 60 per cent of business owners who were polled work from home. Their employees, however, are just fine showing up to the office. The QMI report notes that the number of employees working from home in 2008 was 1,748,600. That’s a small jump from 1,425,700 from eight years priors.

Said Statistics Canada: “Many tend to believe that most employees like the idea of working at home. According to some sources, however, numerous employees have found working at home to be an unsatisfactory experience for a variety of reasons.” Among those reasons are “a lack of workplace interaction, feelings of isolation…and difficulties separating job-related activities from home life.”

Interestingly, the study did find that employees who worked from home did not have a better sense of balance between their jobs and their home lives. If fact, in 2008, those who worked at home for more than 10 hours a week reported that they were more dissatisfied with their work-life balance than those who did not work from home.

Apparently, many people feel that when the lines between one’s work life and personal life are not clearly drawn, it causes problems. Perhaps, those who clock hours in the office every day shouldn’t be so quick to wish they were back at home during the work day!

As we have already excitedly announced, Synergy Merchant Services will be making its fourth appearance in a row at this year’s CRFA Show. The incredible trade show, which takes place between March 6th and 8th at Toronto’s Direct Energy Centre at Exhibition Place, provides some of the most amazing sights and smells in the world.

An incredible showcase of restaurant and foodservice professionals displaying their products, services and establishments, this show is a must-attend event for any business owner. The perfect opportunity to mix, mingle and develop new business relationships, the annual CRFA Show has always provided Synergy with ample opportunities to increase our own client base.

This year, be sure to visit us at Booth 1009. If you would like to take advantage of the amazing opportunity to visit the Direct Energy Centre for any of the three days that the CFRA Show is taking place, be sure to contact Synergy’s Vice President of Marketing, John Meloche to get your free pass mailed to you!

The Canadian Restaurant and Foodservices Association’s website has recently announced that three of the world’s most prestigious chefs will be appearing at this year’s event. Chefs Ezra Title, Michael Stadtländer and Mark McEwan are all master culinary artists as well as business owners who will add to the wonderment of the 2011 CRFA Show.

Chef Ezra Title owns Toronto’s Chezvous Dining. Having worked in restaurants in San Francisco and New York, Title brings great experience back to Toronto using unique French techniques to set his catering company apart from all others. He also hosts “Healthy Gourmet” highlighting the supposed battle between taste and nutrition.

Chef Michael Stadtländer is the chef and owner of Eigensinn Farm, which is located two hours north of Toronto. His latest venture, Haisai, is a restaurant and bakery located in Singhampton, Ontario which was named the best new restaurant in Canada by En Route magazine in October 2010.

Chef Mark McEwan is the chef and owner of four restaurants in Toronto: North 44, Bymark, ONE and Fabbrica. He also recently opened a gourmet food store. He also happens to host “The Heat”, which is a TV show that highlights the challenges of running his catering company. He will also be a head judge on the upcoming “Top Chef Canada”.

Having the opportunity to meet and experience the wisdom and expertise of these three amazing chefs is not one you will want to pass on. Be sure to get yourself to the CRFA Show between March 6th and 8th and take advantage of this event’s ability to get your business to the next level.

Call John Meloche at 1-866-299-0101 ext. 302.

As with every holiday season, Canadian business owners experienced a busy sales period during these past holidays. Naturally, with increased customers come greater sales and increased profits. It’s no wonder then, that the QMI Agency reported a couple of days ago that Canadian small business owners are optimistic as they begin 2011.

Based on a new poll conducted by the Canadian Federation of Independent Business, business confidence is up by 5 per cent to 69.3 per cent nationwide. As QMI notes, this mark is quite close to the post-recession high that was reached last March. 2011, it appears, is expected to be a happy new year for entrepreneurs across the country.

Said CFIB vice-president and chief economist Ted Mallett: “Interestingly, it wasn’t holiday retail spending that accounted for the brighter sentiment. Instead, a large improvement in optimism among manufacturers, natural resource businesses, financial services and personal services firms pushed the overall index upward.”

It seems as if Canada’s east coast is home to the most optimistic business owners in the country. Newfoundland and Labrador is the nation’s most upbeat province with an average reading of 72.3 per cent. Ontario follows not far behind with 69.5 per cent. There were also noticeable improvements in the moods of bosses from Manitoba and Quebec as well.

As always, it is the mission statement of Synergy Merchant Services to assist Canadian small business owners with meeting their goals of increased business success. Continually striving to improve the customer experience in your establishment is part of running a successful business.

To grow your business in 2011, it will be necessary to look into your funding options. Synergy’s merchant cash advance program is the quickest and easiest way for business owners in Canada to secure extra working capital. Start your new year off right and give one of our funding specialists a call to being exploring your funding options.

Perhaps, we can work together on getting the CFIB’s business confidence barometer to post even higher results in 2012. With Canada leading the world in recession-recovery, we are confident that the nation will continue to show vast improvements in overcoming the economic downturn. Here’s to a prosperous new year!

Generally, when someone campaigns for a political position such as mayor, he or she announces a number of promises that are met with great skepticism. The idea of a politician keeping promises is one that is not often taken very seriously. Usually, those promises are forgotten once the campaign has been won.

Well, this is not so in the case of recently-sworn-in mayor of Toronto, Rob Ford. As 680News.com reports today, Ford has made good on his promise to eliminate the vehicle registration tax. Drivers all over the city were none too pleased when the $60 fee came into play just a few years ago.

With the cost of driving a car including car payments, insurance, gas, maintenance and repairs, it can be one of the most money-guzzling practices one can partake in. The additional $60, of course, became very unpopular, very quickly once it began taking effect.

This tax will officially disappear as of January 1, 2011. As 680News.com reports, it took only four hours of debate yesterday for city council to throw the tax out in a 39-6 vote. One of the main factors leading to the decision was the inability for councillors to explain the purpose of the tax upon its inception.

Former budget chief, Shelley Carroll supported the decision to do away with the hated vehicle registration tax. “Progressive councillors, it’s time we admit we failed,” said Carroll referring to the lack of explanation about the tax. And while Torontonians are no doubt elated about the news, the council did, however, vote down a motion for the tax to be retroactively repealed as of September 2010.

This would have allowed anyone who had paid the tax over the last three months to receive a rebate. Councillor Anthony Perruzza called for this motion feeling that it would be fair for constituents who had to pay the tax twice. Nevertheless, it appears as if Toronto’s new mayor has offered the city an early Christmas present.

680News.com did note, however, that “there is still uncertainty as to how Ford will offset the $64 million in lost revenue. Council did not agree to a motion that would prevent service cuts in order to fund the repeal. Ford has said he will find the needed cash without ‘major’ service cuts.”

This Saturday, Montreal native Georges St-Pierre will defend his Welterweight Championship against Josh Koscheck at the Bell Centre in Montreal, Quebec during UFC 124. Today, it was discovered that the event will mark the final time that mixed martial arts fans from Ontario will be forced to leave the province in order to watch a live event showcasing the sport.

Today, it was announced that UFC (Ultimate Fighting Championship) will present UFC 131 at the Rogers Centre in Toronto. The announcement marks a landmark achievement in the history of the sport which was considered illegal until this past August when Dalton McGuinty’s provincial government finally gave in to the fans.

In actuality, McGuinty likely gave in to the idea that legalizing the increasingly-popular sport would help pump millions of dollars into the provincial economy. Mixed martial arts, or MMA, is hugely popular in Canada especially with Canadian athletes like St-Pierre being such successful representatives of the sport.

Back in February, we blogged about McGuinty’s view about legalizing MMA in Ontario, as he insisted it was “not a priority”. What a difference less than a year makes! Don Peat and Irene Thomaidis of The Toronto Sun report that UFC held a media conference today at the Air Canada Centre to announce Ontario’s first-ever MMA event.

As mentioned in previous blogs about this continuing story, “The provincial government expects that a major UFC event in Ontario would draw up to 30,000 fans and generate up to $6 million for the local economy, including cash from hotel rooms rentals, restaurant meal expenditures and retail purchases.”

Dana White, UFC’s president, has commented in the past that he is confident that UFC will be able to break attendance records at Rogers Centre, far exceeding the estimation of 30,000. Currently, World Wrestling Entertainment holds the record for largest paid attendance at 68,237 on March 17, 2002 for WrestleMania X8.

Although no fights have been announced for the UFC 131 card set for the end of April, it is believed that the WWE attendance numbers will be challenged as mixed martial arts has slowly but surely taken over professional wrestling’s popularity. New Toronto mayor, Rob Ford welcomed the UFC announcement today.

Write Peat and Thomaidis: “As a mayoral candidate, Ford vowed in May that if he was elected mayor, he would welcome and encourage the UFC and other MMA organizations to do business in Toronto and do everything to convince Dalton McGuinty’s Liberal government that it would be, in his words, a ‘win, win for everybody.’”

‘Tis the season to be shopping. And as business owners all across Canada are well aware, customers are currently on the hunt for the best deals possible on all of the hottest items that make the best holiday gifts. In our various blogs about holiday shopping, we have never lost focus of the fact that many consumers head to the internet before they head into the mall.

Customers seeking out the best prices will often check out a company’s website to see if they offer the most competitive prices for the items they want. But we’ve all heard the saying that “there’s a time and place for everything” right? Well, while it makes sense to go online in search of the perfect gift, it’s important to keep that phrase in mind.

The wrong time and and the wrong place to do your shopping online is during work, while you are on the job! As if the internet wasn’t a big enough distraction to the average workday, employers are becoming increasingly concerned with workers going on the internet during work hours to shop.

At least, this is the case, according to the QMI Agency, who reported today that “about 40% of chief information officers say they will be blocking access to online shopping sites to prevent excessive time wasting at work.” This finding was discovered through the results of a new survey by Robert Half Technology.

The survey also found that an additional 28% of CIOs say that they will allow online shopping at work but will monitor internet activity to dissuade excessive use. Interestingly, the survey also concluded that employers anticipate that employees will spend upwards of four hours a week searching various websites for bargains.

Just in case you’re reading this blog at work right now, you might want to take a quick look around you to see if you’re being monitored! Said Lara Dodo, the Canadian regional vice president of Robert Half Technology: “Employees should exercise sound judgment while shopping on the job, especially if it hinders productivity or causes deadlines to slip.”

The growing concern about internet use at work is a direct result of the obvious growing popularity of the web being used as an information source. Especially since the internet allows quick and easy access to being able to compare prices and even order items to one’s home, employers are forced to be on the lookout for workers taking time away from their jobs to shop.

Writes QMI: “About 70% of Canadians are expected to use blogs, social media forums and online shopping services marking a ‘tipping point’ in the use of new technology, according to a study released earlier this month by Deloitte.” QMI notes that the survey was based on over 120 interviews with Canadian CIOs done over the phone.

When you think of Canada, what are some of the first images that come to mind? Chances are, the average person is going to immediately think hockey, beer, maple leaves, beavers and dare we say it…snow! However, most Canadians would also place the ever-popular coffee and donut haven, Tim Hortons in the ultra-Canadian category.

It’s hard to deny that Tim Hortons, the coffee shop founded in 1964 by the hockey player of the same name, has become a staple in Canadian culture for decades. Every morning, it’s a common occurrence for Canadians to line up at their closest branch to order coffee from the place that many affectionately refer to as “Timmy’s”.

Scrounging up enough change for the classic morning beverage and a snack has practically become a Canadian past time…until now. Tim Hortons, of course, is still as popular as ever. But Canadians will now no longer have to dig in the sofa cushions for change before their next trip to their favourite coffee shop.

This morning, QMI Agency reported that Tim Hortons will officially start accepting debit cards throughout Canada. Already accepting MasterCard as a method of payment, Timmy’s has extended its contract with merchant processor, Chase Paymentech to finally accept Interac transactions all over the nation.

According to Rita Trichur of The Toronto Star, Tim Hortons is finally “bowing to consumer pressure” to finally accept debit cards nationwide. She reports that the restaurant has actually been accepting debit cards in western Canada, where the demand was strongest, since 2003.

“Customers will no longer need to worry if they have cash in-pocket when they buy their morning coffee, breakfast wraps for the kids after hockey practice or donuts for the office,” said Mark O’Connell, the president and CEO of Interac Association.

Some may be wondering how debit cards and Tim Hortons hadn’t already been hand in hand for years. It’s well-known that Canada is one of the most debit card-friendly countries in the world. One can only guess how much more donuts and coffee that the popular coffee shop chain will sell now that it accepts Interac as well as MasterCard.

Interac president and chief executive, Mark O’Connell had this to say: “Canadians enjoy the convenience and simplicity of making everyday payments using funds directly from their bank account with Interac debit, and now they have more opportunity to do so at one of Canada’s favourite restaurants, Tim Hortons.”

Unquestionably, the popularity of Tim Hortons is bound to rise. QMI Agency points out that there are already 3,649 locations in Canada. The restaurant has already made headway in the United States as well, with 567 shops.

It wasn’t very long ago – just within the past year or two – that credit cards were beginning to have chips inserted into them. The idea was that instead of having to sign for a purchase made on a credit card, the new “chip cards” would allow a consumer to punch in a pin number for security, similar to that of a debit card.

Well, it appears as if debit cards aren’t interested in having credit cards copy their routine. Today, the QMI Agency reports that the Interac Association is introducing contactless “flash” debit cards. Beginning as early as next summer, these new cards will no longer require a customer to enter a pin number.

Instead, for small purchases (no word yet on how small), customers will be able to simply “flash” or wave the card in front of a supported reader. No more inserting the card into the terminal, no more swiping and no more worrying about people seeing your pin code. For small charges, you can now flash and dash!

As QMI reports, Interac says that Scotiabank and Royal Bank of Canada will be the first banks to offer the new Interac Flash debit cards to consumers in the summer of 2011. They go on to note how much business these new flash cards intend on picking up in retail stores.

Apparently, approximately $90 billion worth of payments made in cash are for purchases that are less than $20. Add that to the fact that Canadians are increasingly using their debit and credit cards to pay for their purchases. Noticing this trend, Interac is seemingly set to cash in…or “flash” in, perhaps?

Said Doug Collins, the head of payments and bank services for RBC Royal Bank: “Canadians have always shown an interest in adopting new payment solutions. Simplifying day-to-day banking through introducing innovative products and services is a key priority for us and we are pleased to be bringing this new option to our clients.”

In addition, the new flash cards are expected to speed up lines at the cashier in such stores that have a high volume of customers, but low sales. Coffee shops and convenience stores are two examples. The flash card certainly sounds like something that will be a welcome addition to shoppers who are constantly on the go.

According to Diane J. Brisebois, the president and chief executive of Retail Council of Canada: “Interac Flash is a welcome and needed addition to the Canadian retail marketplace. Interac Flash is also an economical payment solution, providing a win-win for merchants and their customers across Canada.”

“Small and medium-sized businesses make up the backbone of the Canadian economy, with about 70% of the total workforce employed by companies with less than 500 workers.” This is a direct quote from a QMI Agency article published earlier today that simply confirms what we have known, here at Synergy, since the inception of our company.

Thanks to small and mid-sized businesses in Canada, our nation is known as a world leader in being able to recover from the impact of the global recession. The QMI report provides further evidence that such companies are expressing growing optimism about the growth and development they anticipate in the new year.

In fact, the Canadian Federation of Independent Business has found that optimism among Canada’s small and medium-sized businesses is at its highest level since May. Writes QMI: “The association’s Business Barometer increased to 66.9 in its latest reading, more than three points higher than September.”

The provinces of British Columbia, Alberta and Nova Scotia are showing the largest levels of confidence based on the findings of CFIB’s October study. Optimism did happen to decline, however, in Quebec, Manitoba and Prince Edward Island. Nevertheless, the overall response from the survey was positive.

Said CFIB’s vice-president and chief economist, Ted Mallett: “While this index level is still modest compared to pre-recession readings, it suggests a firming up of business owners’ expectations. Not many small- and medium-sized businesses are expecting high growth in the coming year, but even fewer are expecting significant declines.”

Here, at Synergy, such findings give us great pride. Being in the business of funding Canadian small and mid-sized businesses, we are confident that we will remain a significant factor in continuing to raise the possibilities of greater growth and success among such companies.

There is evidence that small and medium-sized businesses will look more towards the merchant cash advance as a viable option for funding in the new year. As QMI points out, “many (of the businesses surveyed) are still reporting difficulties in obtaining bank finance after the recession and struggling with falling consumer demand and the strong loonie.”

We look forward to continuing to work with these great companies that are the backbone of our nation’s economy. We recognize that the extra working capital necessary to help grow these businesses, inevitably help strengthen the national economy. Hopefully, this will only promote increased optimism throughout the country as we embark on 2011.