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News Desk
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PayPass Taking Canada By Storm
Bank of Montreal (BMO) has partnered G+D to provide Canadians with a faster, more convenient and secure way to pay with the MasterCard PayPass contactless payment feature. The future is now, with millions of cards being used worldwide.
“As of Q3 2007, with over 19 million PayPass cards issued worldwide, the technology is here and growing. BMO has taken the lead in introducing this fast and secure payment method to Canadians. Partnered with G+D, we are confident that Canadians will find PayPass to be secure and convenient. It's like having exact change wherever you go. A simple tap of the card is all it takes to pay at the checkout,” said Nancy Marescotti, Director, Brand Marketing & Card Management, BMO.
With a flurry of success in the US, Europe and Asia, PayPass is now fuelling the storm of contactless cards sweeping through the Canadian marketplace. G+D, creators of the 1st mini contactless payment card in the world, is providing a contactless card product line to BMO with a best-in-class payment card.
PayPass is designed to enable small ticket purchases to be completed quickly and securely. The system has found the greatest success with “Generation Plastic” - young adults who use plastic for over 40% of all transactions. A tap is all it takes to speed through checkouts for coffee, gas and many other convenience items. With no signature or PIN required, the card never leaves the consumer’s hand, making it the most secure form of payment.
“PayPass provides the combination of convenience, quality and security creating a compelling value for issuers like BMO,” said Kim Madore, VP, Emerging Technology, G+D.
Contactless cards work with a specially-equipped merchant terminal. The cards have a chip and antenna embedded directly into their  plastic. The terminal reads the card using RF technology. Once payment details have been captured by the terminal, they are processed through the BMO acceptance network. All of these details occur instantly and seamlessly to the consumer.
“G+D is proud to support BMO's roll-out of the new Mosaik MasterCard PayPass in the Canadian market. We are always working towards bringing the consumer tomorrow's technology, today,” said Anna Rossetti, President, G+D Canada.
“BMO with our partner, G+D are working together to fuel the storm of contactless bank cards expected to sweep the Canadian marketplace in the year ahead. We are confident that G+D is the partner to provide the quality and experience expected by BMO customers,” commented Mike Kitchen, SVP, Card & Retail Payment Services, BMO.
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Composed: 21-Oct-2008 | Modified: 01-Mar-2009
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