National Bank of Canada to adopt PayPass credit cards

National Bank of Canada has integrated the contactless PayPass payment option into smart credit cards issued as part of a project conducted in Kitchener-Waterloo, Ontario and Saint-Jerome.
Via PayPass users can pay for low-value purchases under USD 50, by tapping their card on a PayPass reader. Thus, they are able to complete transactions up to the limit set by the merchant. The payment system does not require having clients sign a sales slip or inserting a credit card into a terminal.
The feature provides National Bank MasterCard cardholders with three payment options, in compliance with the technology offered by the merchant. Contactless PayPass payment turns into an alternative to cash for low-value purchases by tapping the credit card against a reader. Smart card technology will deal with the security of transactions when clients enter their personal identification number. Merchants who do not yet offer PayPass or smart transactions will swipe cards and their clients will have to sign the sales slip.
PayPass is expected to become a payment option for fast food restaurants, pharmacies, service stations, vending machines, convenience stores and movie theatres as well.