By making the PayPass technology available for use on mobile devices, consumers gain the ability to carry out small-value payments by waving their NFC-enabled handsets over contactless PayPass reader at the point of sale. For purchases under CAD 50, no Personal Identification Number (PIN), swipe or signature is required.
Through MasterCard’s inControl platform, BMOs Mobile PayPass Tag users can monitor their spending by opting to receive email notifications that report the merchant and location of each PayPass purchase they make with their tag. PayPass technology is already embedded in more than seven million of BMOs MasterCard credit cards.
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