BMO is to become the first major Canadian bank to issue contactless stickers to its customers, says Canoe.ca. The MasterCard PayPass tags are attached to the back of users’ phones and can then be used to charge purchases of up to C$50 to the customer’s credit card account. PayPass transactions account for nearly 10% of all MasterCard credit card purchases in Canada.
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- Carrefour uses LED lighting to send offers to shoppers in stores
- Apple Store purchases get two-step authentication
- Mobile payment market worth $2.8tn by 2020
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