Blueprint for PoS m-payments in Canada unveiled by banks

15 May 2012

The banking industry in Canada has released a set of voluntary, secure, open guidelines for the development of mobile payments at Point-of-Sale terminals (PoS) across country.

Known as the Mobile Reference Model, the voluntary guidelines will provide a blueprint for how m-payment capabilities can be offered in the Canadian market in future, including advice around how information should be exchanged among various parties to a transaction between financial institutions, payment card companies, telecommunications firms and merchants. The stipulations mirror work being down by the Mobey Forum and others to develop standards for different elements in the fast-growing mobile channel.

The financial institutions that developed the guidelines in Canada say they are committed to these principles in the developing mobile market, and are confident the voluntary guide will gain widespread uptake. The guidelines are intended to create a path to help all market participants move forward in developing mobile payment solutions.

The guidelines were developed as an outcome of the federal government's Task Force for the Payments System Review in 2011, and provide definition for a fair, transparent, and competitive Canadian market for emerging payment options with mobile devices.

By Neil Ainger

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