Canada Looks Towards a Cashless, Mobile Payment Processing Future, MONEXgroup Offers Support

Toronto, Ontario, Canada (PRWEB) February 24, 2014

Step aside cash - make room for contactless payments! With VISA and Mastercard looking to near field communication (NFC) technology; mobile payment processing may soon dominate the retail space in North America.

According to a recent report by Mastercard[1], 19 out of the top 25 retailers in Canada have embraced tap-to-pay, contactless processing. While NFC payments systems are currently tied to cards and terminals, efforts to include Smartphone apps and digital wallets have generated much discussion and interest for Canadians.

“It’s simple. People are on the go. They want something quick, safe and efficient,” commented Parry Rosenberg, Vice President of Sales and Marketing at MONEXgroup[2]. “We’re naturally inclined to embrace technological solutions that can keep up with us.”

As quick as Canadians were to embrace the Chip-and-PIN culture of payment processing, adopting newer payment platforms for mobile payment may be even more of a rapid development. Of the 68% of Canadians aged 18-44 who own a Smartphone or mobile device, an astounding 46% say they are interested in mobile payment for everyday purchases. The interest is hard for businesses to ignore, as many companies are also looking to adopt mobile payment processing technology.

Merchant services like Virtual Merchant Mobile demonstrate the movement, allowing MONEXgroup clients to accept credit card payments with their Smartphones. As Canadians move closer to new mobile payment platforms, services like Virtual Merchant Mobile offer a secure environment for an unlimited number of mobile devices - proving ideal for merchants looking to develop business.

As consumer behaviour changes, it isn’t long before business also follow suit. “If the technology is ready, the customers are ready and the market is ready - businesses should be just as ready to make shopping as convenient and stress-free as possible,” states Rosenberg.

MONEXgroup is the number one payment processing provider in Canada offering the lowest rates in the industry. Our services include: debit card and credit card point-of-sale (pos) terminals, mobile, integrated and e-commerce online payment products. MONEXgroup serves over 20,000 merchant accounts across Canada in all market segments including: restaurants, business-to-business, professional services, leisure and hospitality.

Holly Murray
Marketing Communications
T: 647 204 0197[3]


  1. ^recent report by Mastercard (
  2. ^MONEXgroup (
  3. ^ (
Share on TwitterShare on Google+Email a friendCanada Looks Towards a Cashless, Mobile Payment Processing Future, MONEXgroup Offers SupportShare on TwitterShare on Google+Email a friendPrinter Friendly Version