CANADIAN MOBILE PAYMENTS GUIDELINES ESTABLISHED

The Canadian Bankers Association has announced a set of voluntary, secure, open guidelines for the development of mobile payments at point-of-sale in Canada. The guidelines, technically known as the Mobile Reference Model, will serve as a blueprint for how mobile payment capabilities can be offered in the Canadian market, including guidelines around how information is exchanged among various parties to a transaction including financial institutions, payment card companies, telecommunications companies and merchants. The participating financial institutions are: BMO Financial Group; National Bank; CIBC; Credit Union Central of Canada; Desjardins Financial Group; Royal Bank of Canada; Bank of Nova Scotia; and Toronto Dominion Bank. 


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