Canada: National Bank of Canada launches new mobile OS solution

National Bank of Canada has launched a mobile point-of-sale solution called “Easy Pay”, powered by Montreal FinTech Mobeewave.

Designed for small and medium-sized businesses, Easy Pay enables merchants to accept payments in person using a compatible smartphone from customers paying with an eligible contactless credit card or a digital wallet.

The solution uses near-field communication (NFC) technology to encrypt and secure personal information, with no sensitive information saved on the merchant’s device.

To start accepting payments, users are required to register and then download the Easy Pay app.

According to RFi Group data, 3 in 5 merchants use a mobile POS device, with 1 in 4 users using an app-based solution.

Furthermore, among non-users, 1 in 4 are likely (score of 6-10 out of 10) to take out a mobile POS solution in the next 12 months.

This suggests an opportunity to attract a large proportion of Canadian SMEs to the Easy Pay solution, with uptake likely to increase over the coming year.

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