23 May 2017
Visit cib.db.com

Interac prepares to add contactless capability to Canadian debit cards

17 June 2010  |  9257 views  |  0 card chip

Canada's Interac Association is eyeing a national roll out of debit cards featuring its new 'Flash' contactless payments functionality after a series of successful trial transactions.

The national payments association has been working for a year with vendor Inside Contactless on the dual interface chips for the Interac Flash specification. The global contactless market is dominated by Visa's payWave and MasterCard's PayPass.

The group has now carried out a series of contactless debit transactions using Scotiabank cards containing Inside's micropass 6008 dual-interface payment microprocessor, and TD Merchant Services' point-of-sale terminals.

It says it will now continue to work with stakeholders this year to ready the Interac Direct Payment point-of-sale extension of Flash for national rollout on branded debit cards in 2011.

Mark O'Connell, president and CEO, Interac Association, says: "The successful transactions that have taken place bring us closer to a national rollout of Interac Flash. From delivering exclusive functionality to providing a strong value proposition to the market, Interac Flash is a win-win."
KeywordsEFTPOS

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Canada dumps paper cash for plastic

Canada dumps paper cash for plastic

08 March 2010  |  9263 views  |  0 comments | 1 tweets
Canadian contactless mobile sticker trial planned

Canadian contactless mobile sticker trial planned

03 March 2010  |  9502 views  |  0 comments
RBC goes contactless for Vancouver Olympics

RBC goes contactless for Vancouver Olympics

28 January 2010  |  7887 views  |  0 comments
Visa contactless dumped by US retail giant Best Buy

Visa contactless dumped by US retail giant Best Buy

07 January 2010  |  14265 views  |  1 comments
Contactless acceptance market set to boom

Contactless acceptance market set to boom

11 November 2009  |  11697 views  |  1 comments
Canada plans payment card code of conduct

Canada plans payment card code of conduct

13 October 2009  |  6307 views  |  0 comments
Interac partners with Inside for Canadian contactless chips

Interac partners with Inside for Canadian contactless chips

15 July 2009  |  5347 views  |  0 comments
Canada begins Chip and PIN roll out

Canada begins Chip and PIN roll out

28 October 2008  |  10615 views  |  0 comments
Canada's Interac looks to go for-profit - report

Canada's Interac looks to go for-profit - report

08 September 2008  |  7895 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Download the paper nowvisit www.niceactimize.comvisit www.events.sap.com

Top topics

Most viewed Most shared
Time for data-driven banking to come of ageTime for data-driven banking to come of ag...
8770 views comments | 29 tweets | 35 linkedin
Google and PayPal partner for mobile shopping by fingerprintGoogle and PayPal partner for mobile shopp...
8757 views comments | 27 tweets | 28 linkedin
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
8514 views comments | 22 tweets | 31 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
8514 views comments | 21 tweets | 24 linkedin
DrnkPay app blocks credit cards if you've had too much to drinkDrnkPay app blocks credit cards if you've...
7499 views comments | 14 tweets | 15 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job