Contactless payment on the rise in Canada
27 August, 2010
category: Contactless
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.
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