BMO Bank launches new payment feature for credit cards
2nd November 2007
BMO Bank of Montreal has added a new payment feature called MasterCard PayPass to its Mosaik MasterCard credit cards.
BMO Mosaik MasterCard PayPass cards use radio frequency technology to securely transmit payment details wirelessly between the MasterCard PayPass device and the merchant's terminal. As a result, cardholders need to do nothing more than tap or wave their credit card against the MasterCard PayPass payment terminal and the transaction is instantly processed.
Nancy Marescotti, director of BMO Mosaik MasterCard, said: "One of the benefits of PayPass is that the card never leaves the customer's hands so he or she can have greater peace of mind. And PayPass transactions are covered by zero liability providing the same layer of security and protection that customers are accustomed to having with their BMO Mosaik MasterCard."