Canadian credit unions Affinity and Conexus in Saskatchewan, First West in British Columbia and Meridian in Ontario have become the first to launch Mobile Pay, the host card emulation (HCE) mobile payment service developed by trade body the Canadian Credit Union Association.
Any customer who has downloaded a credit union’s mobile banking app can make a direct debit payment from a checking account by hovering the screen of a mobile device above a retailer’s payment terminal.The four credit unions revealed that they would be the first to launch the service — which makes use of a tokenization platform by Interac — in February 2016.
Interac payment solutions enable domestic networks outside of Canada to remain innovative through the licensing of documentation, specifications, and software. Licensees can expect to quickly and cost-effectively leverage solutions that can be customized and implemented to deliver products based on those offered by the Interac network in Canada, including contactless, mobile, and P2P solutions.
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