Interac Connects With Contactless Debit Payments
According to Digital Transaction News, Canada’s Interac Association debit network is teaming with France-based semiconductor manufacturer Inside Contactless in a partnership that will include a test next year that will pair PIN-based debit cards with contactless payments. But to keep transactions moving quickly, cardholders will not need to enter a PIN.
The test will be yet another as card networks, processors, banks and vendors try to find a winning formula for the much-ballyhooed contactless card that uses radio technology to pass data between the card and payment terminal at close range. Issuers have pumped out millions of contactless cards, but there are fewer than 200,000 locations worldwide that accept them.
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