(December 18 – 12:15 ET) – e-Scotia, the e-commerce subsidary of Bank of Nova Scotia, announced today that it has invested over $12 million in a fast growing software technology company — Soft Tracks Enterprises.

The British Columbia based company is focused on developing next generation technology to offer consumers more payment choices than ever before on enhanced mobile wireless terminals and other devices.

e-Scotia will offer Soft Tracks payment acceptance technology to benefit Scotiabank customers by enhancing the mobile terminals and other payment options being used in the marketplace today. Soft Tracks will offer software-based solutions that will play a major role in transforming the payment industry over the next couple of years. Soft Tracks’ software technology provides secure payments using internet-enabled appliances and wireless devices between consumers and merchants.

“Our strategy is to invest in companies that benefit our customers by offering more choice and convenience in rapidly evolving e-commerce services,” said Greg Milavsky, managing director and group head of e-Scotia acquisition.

“We are very excited that a financial institution of e-Scotia’s caliber and vision recognizes the impact that our technology will have on the payment industry, and has invested in our technology as a result. We welcome e-Scotia as a new Soft Tracks investor in our leading edge wireless and wireline payment acceptance solutions,” said Juliana Cafik, president & CEO of Soft Tracks Enterprises.
-IE Staff