Canadian Vending

Features Payment Technology
System enables debit and credit card payments on the go


June 23, 2014
By Canadian Vending

Topics

June 23, 2014, Toronto – Businesses can now process payments anywhere with a smartphone-based mobile point-of-sale system that
accepts both Interac debit and credit payments.


June 23, 2014, Toronto – Businesses can now process payments anywhere with a smartphone-based mobile point-of-sale system that
accepts both Interac debit and credit payments.


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Moneris recently released Payd Pro, the first and only smartphone-based
mobile point-of-sale (mPOS) system in Canada to accept both Interac debit
and credit card payments. The system is also first to include
EMV chip and PIN and contactless payment technology, which allows merchants to process payments securely anywhere they do
business.

With Payd Pro,
merchants connect a portable Bluetooth-enabled PIN pad to a smartphone or
tablet running the Payd app, to process sales in any physical location. The
mPOS system accepts Interac Debit, Discover, VISA, MasterCard and
American Express.

"Payd Pro simplifies and transforms
how payments are made outside of the traditional brick-and-mortar
environment,” said Rob Cameron, chief product and marketing officer for Moneris, in a media statement. “Whether
the merchant is a contractor meeting clients on the road or a vendor at a local
farmer’s market, Payd Pro enables them to break away from the confines of a
physical POS to increase their sales opportunities."



Mobile payment technologies
are gaining traction at a fast pace, with mPOS expected to make up 46 per cent
of all POS terminals in circulation by 2019, t
he company said in the statement, referring to a May 2014 ABI Research study entitled "
Payment and Banking Cards & Contactless
Technologies."
 

"With Moneris’ release of Payd Pro,
the Interac brand’s position within the mobile payments space is further
strengthened," said Mark O’Connell, president and CEO of Interac Association
and Acxsys Corporation, in the statement. "Payd Pro is Canada’s first mobile POS terminal
that offers Interac Debit and Interac Flash, giving Canadian merchants,
particularly small businesses, access to secure, innovative and low-cost
payment acceptance."

Payd Pro merchants have no set-up fees,
fixed-term contracts, minimum processing limits or transaction volume limits,
enabling mobile businesses that have not accepted debit or credit cards in the
past, a cost-effective way to provide customers an expanded choice of payment
options, said the company.

The app allows businesses on the go to enhance cash flow, close
sales quickly and efficiently, access real-time reporting and send receipts
via e-mail all within a secure processing environment. Payd Pro’s
state-of-the-art security protocols encrypt card data at the time of
transaction and leverage a secure Bluetooth connection to protect card data and
prohibit unauthorized access.

Payd Pro is currently
available on the Apple iOS platform and will be available for Android users
in late 2014.