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Contactless payment on the rise in Canada

Friday, August 27, 2010

The Canadian contactless payments market is set to take off as large stores rapidly adopt the new technology, and smaller merchants threaten to make the jump as well, according to itbusiness.ca.

Ontario’s Technology Strategies International predicts Canadian stores will see $5.6 billion in contactless transactions by 2014.

MasterCard first rolled out PayPass in 2005 in select Canadian markets, and by fall 2008, PayPass was being used by a slew of Canadian financial institutions, including Bank of Montreal, PC Choice Financial, Canadian Tire Bank, and CapitalOne.

A new survey from Euro Kartensysteme shows that Germans are starting to embrace the idea of contactless and NFC payments.

Out of 1,040 Germans aged 18-59, 43% responded that they would like to make contactless payments if given the opportunity, of which 58% percent would make their payments with a debit card card, 41% with a credit card and 50% with an NFC phone.

Canada parking catches a ride on the Visa payWave

Visa and Imperial Parking Canada Corp. (Impark) are teaming up to offer Visa payWave contactless payments to 72 of its attended parking facilities across Canada.

I Love Velvet mobile payment obtains EMV2 certification

Mobile payment solution provider I Love Velvet announced that it has reached the second level of EMV certification (EMV2) which authorizes PIN and integrated chip payments from debit, credit and smart cards around the world.

Gemalto preps for large-scale EMV deployment in France

Credit Agricole, a retail banking group based in Paris, is teaming up with Gemalto to launch a large-scale deployment of contactless EMV banking cards in France.

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