Moneris Launches “Canada’s First Debit-Enabled Mobile Payment System” But It’s Not Out Until 2014

Moneris Solutions Corporation, Canada’s largest debit and credit card processor, today announced the launch of “PAYD PRO“, Canada’s first debit-enabled mobile payment solution using chip & PIN technology to process payments on the go.

It uses bluetooth technology to allow smartphones to to accept debit and credit card payments on the go through chip and PIN.

“At Moneris, we are proud to be the first payment processor in Canada to empower small business owners with the ability to process debit card transactions anywhere they do business,” said Moneris’ Jeff Guthrie. “Canadians increasingly expect to have the freedom to choose any payment option they find convenient, with any type of a merchant organization, big or small. We are committed to bringing innovative, effective and secure solutions to merchants of all sizes, including smaller service providers, such as artisans, photographers, personal trainers and contractors.”

Moneris offers credit, debit, wireless and online payment services for merchants in virtually every industry, and processes more than three billion transactions annually.

The announcement today follows much publicity on Twitter cofounder Jack Dorsey’s new mobile payments startup Square, and its year so far operating on Canadian soil. Square Register allows individuals and merchants to accept credit cards on their iOS or Android smartphone, or tablet computer. The app supports manually entering the card details or swiping the card through the Square Reader, a small plastic device which plugs into the audio jack of a supported smartphone or tablet and reads the magnetic stripe.

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Moneris seems to be differentiating itself through the use of bluetooth technology and the fact that nothing actually has to touch the smartphone. Its solution is a mobile app, so rather than the Square reader attaching to one’s iPad, “PAYD PRO is a mobile application that uses Bluetooth technology to connect a lightweight and portable companion device to any Apple iOS and Google Android™ smartphone.”

Knowing that the majority of Square’s focus is actually on the backend, in its ability to provide small business owners with real-time data analytics, Moneris also stated that PAYD PRO offers eCommerce management tools, including the ability to track all transactions from their mobile device and send receipts via email.

The catch? It won’t be available until February 2014.



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