With 25 per cent of payments resulting from contactless transactions today, Moneris expects growth to increase with broader adoption of Apple Pay
TORONTO, ON — Moneris Solutions Corporation (“Moneris”), one of North America’s leading credit and debit card processors, welcomes the Canadian expansion of Apple Pay enablement for Interac, Visa and MasterCard cardholders, following the American Express acceptance that was enabled in late 2015. With Interac Debit and three major credit card brands on board, coupled with the popularity of Apple devices in Canada, more consumers will be able to use their favourite credit and debit cards with Apple Pay.
“Twenty-five per cent of transactions Moneris processes today are via contactless cards or devices,” said Rob Cameron, Chief Product and Marketing Officer, Moneris Solutions. “With Apple Pay’s increased options and our leading market share in Canada, we are ready to educate, enable and support merchants across the country to accept Apple Pay today.”
Canadian businesses and consumers are ready for Apple Pay expansion. Contactless transactions are rapidly increasing in use, as highlighted in the Moneris Q1 2016 quarterly spend report. The total amount spent via contactless payments has more than doubled year over year. Currently, 85 per cent of Moneris merchants have terminals capable of accepting contactless payments such as Apple Pay and more than two thirds of those merchants are processing contactless transactions.
With the support of two of the largest banks in Canada, BMO Financial Group and Royal Bank of Canada (RBC), consumer adoption of Apple Pay is expected to increase significantly. Many of Moneris’ largest customers, including McDonald’s Restaurants of Canada Limited, are 100 per cent contactless enabled and ready to accept Apple Pay.
“At McDonald’s Canada, we embrace the changing payment landscape, and Apple Pay offers our guests one more way to make fast, secure and convenient payment in our restaurants,” said Dave Simsons, CIO of McDonald’s Restaurants of Canada Limited “Working with Moneris, we have been able to introduce this quickly to both our crew and guests to enhance the payment experience and make it easy and fun.”
Other Moneris merchants are ready as well. In Western Canada, London Drugs Limited has been accepting Apple Pay via Moneris contactless-enabled terminals since its launch last year.“For London Drugs, Apple Pay allowed us to offer a new way to accept payment for American Express customers. With the addition of Interac, Visa and MasterCard, Apple Pay is now available to even more of our customers,” said Laird Miller, CFO at London Drugs Limited. “This increased support for other card issuers means customers will have even more choice in how they pay on their iOS devices at London Drugs locations.”
Indigo Books, like London Drugs, was an early Apple Pay adopter and expects the number of transactions via Apple Pay to increase with the new card issuer additions.
“Indigo has supported contactless payments for quite some time and thanks to our relationship with Moneris we were ready for Apple Pay when it was introduced to Canada last November. We’re committed to offering our customers the easiest possible solutions to shop with us,” said Kirsten Chapman, CMO and EVP, Digital, Marketing and Online at Indigo. “By providing additional card brands available now through Apple Pay, we expect even more of our customers will see it as an easy and seamless payment option moving forward.”
Businesses that accept Apple Pay can also gain sales and marketing exposure through references in Apple Maps. By verifying information in Apple Maps Connect (https://mapsconnect.apple.com/), businesses can get added visibility on the iOS platform when consumers use Apple Maps.
All point-of-sale solutions shipped from Moneris today come with the ability to accept contactless payments, including integrated or standalone terminals, whether wired or wireless. Moneris’ innovative mobile point-of-sale solutions – PAYD Pro™ and PAYD Pro Plus™ – are equipped with a tap-enabled Moneris PAYD™ PIN Pad allowing Apple Pay to be used anywhere a sale takes place. Setting up a contactless payment system is seamless with the support of Moneris Field Services, who can install the terminals and train merchants on their use.
For more information on Apple Pay, visit: apple.com/ca/apple-pay.