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Certification will allow transit authorities using Moneris Open Payments for Transit to accept contactless debit for fare payment
TORONTO, March 10, 2021 /CNW/ - Moneris Solutions Corporation ( Moneris ), Canada s largest processor of debit and credit card payments, recently received certification from
Interac to process contactless debit transactions in an open loop payment solution. Transit authorities using Moneris Open Payments for Transit will soon be able to accept debit in addition to credit transactions for fare payment. Moneris is now the first payments processor in Canada to reach this milestone.
The certification comes at a time where there is an increasing shift away from cash towards contactless payments because of COVID-19. Since the start of the pandemic, 57 per cent of Canadians have reported a decrease in using cash, while 47 per cent of Canadians have reported an increase in using contactless options like credit and deb