Canadian banks issue landmark NFC payments guidelines that focus on open mobile wallets and consumer data protection
By Sarah Clark May 14th, 2012
The Canadian banking and credit union industry's Mobile Payments Reference Model provides a detailed blueprint for how NFC mobile payments can be offered in Canada, how open mobile wallets will be and how consumer privacy will be assured.
CANADA: Mobile wallets should "protect end user and merchant data"
The Canadian banking industry and credit union system has published a set of guidelines for the development of mobile payments at the point of sale in Canada.
The voluntary guidelines, known as the Canadian NFC Mobile Payments 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," says the Canadian Bankers Association.
