Businesses can now process payments anywhere with Canada's first and only smartphone-based mobile point-of-sale solution to accept both INTERAC® Debit and credit payments
TORONTO, June 18, 2014 /CNW/ - Canadian businesses now have a new mobile tool to enable increased growth, agility and customer convenience. Today, Moneris Solutions Corporation ("Moneris"), Canada's largest credit and debit card processor, releases PAYD PRO™, the first and only smartphone-based mobile point-of-sale ("mPOS") solution in Canada to accept both Interac Debit and credit card payments. PAYD PRO is also the first mPOS product to include EMV® Chip & PIN and contactless payment technology. This revolutionary solution 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 solution accepts Interac Debit, Discover®, VISA®, MasterCard® and American Express®, giving customers a robust choice in payment options.
"PAYD PRO simplifies and transforms how payments are made outside of the traditional brick-&-mortar environment," says Rob Cameron, Chief Product and Marketing Officer, Moneris. "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."
Studies show that 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 2019.1
"With Moneris' release of PAYD PRO, the Interac brand's position within the mobile payments space is further strengthened," says Mark O'Connell, President and CEO, Interac Association and Acxsys Corporation. "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.
The innovative PAYD app allows businesses on the go to enhance cash flow, close sales quickly and efficiently, access real-time reporting, and send receipts via email, 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.
Merchants can sign up for PAYD PRO at https://www.getpayd.com.
About Moneris Solutions
As one of North America's largest providers of payment processing solutions, Moneris Solutions Corporation ("Moneris") offers credit, debit, wireless and online payment services for merchants in virtually every industry segment and processes more than three billion transactions, annually. Moneris also offers electronic loyalty and stored-value gift card programs. With more than 350,000 merchant locations, Moneris provides the hardware, software and systems needed to improve business efficiency and manage payments. For more information please visit www.moneris.com.
Interac and Interac Flash are registered trade-marks of Interac Inc. used under license.
1 Payment and Banking Cards & Contactless Technologies. ABI Research; 13 May 2014.
SOURCE Moneris Solutions Corporation
Image with caption: "Bluetooth-enabled PIN PAD and PAYD mobile application running on an iOS®-operated smartphone. (CNW Group/Moneris Solutions Corporation) (CNW Group/Moneris Solutions Corporation)". Image available at: http://photos.newswire.ca/images/download/20140618_C7384_PHOTO_EN_41531.jpg
Image with caption: "EMV® Chip & PIN and contactless payment acceptance technology. (CNW Group/Moneris Solutions Corporation) (CNW Group/Moneris Solutions Corporation)". Image available at: http://photos.newswire.ca/images/download/20140618_C7384_PHOTO_EN_41533.jpg
Image with caption: "EMV® Chip & PIN and contactless payment acceptance. (CNW Group/Moneris Solutions Corporation) (CNW Group/Moneris Solutions Corporation)". Image available at: http://photos.newswire.ca/images/download/20140618_C7384_PHOTO_EN_41535.jpg