TORONTO and PARIS, Nov. 13 /CNW/ - BMO Bank of Montreal (BMO) has
partnered with Giesecke & Devrient (G&D) to provide Canadians with a faster,
more convenient and secure way to pay with MasterCard(R) PayPass(TM)
contactless payment feature. The future is now, with millions of cards being
"As of 3Q2007, with over 19 million MasterCard(R) PayPass(TM) cards
issued worldwide the technology is here and growing. BMO Bank of Montreal has
taken the lead in introducing this fast and secure payment method to
Canadians. Partnered with G&D, an industry leader in card payment technology,
we are confident that Canadians will find MasterCard(R) PayPass(TM) to be
secure and convenient. It's like having exact change wherever you go. A simple
tap of the card is all it takes to pay at checkout," said Nancy Marescotti
Director, Brand Marketing & Card Management for BMO Bank of Montreal.
With a flurry of success in the U.S, Europe and Asia, PayPass(TM) in
Canada is now fuelling the storm of contactless cards sweeping through the
Canadian marketplace. Giesecke & Devrient, creators of the first mini
contactless payment card in the world are providing a contactless card product
line to BMO with a best-in-class payment card.
PayPass(TM) technology is designed to enable small ticket purchases to be
completed quickly and securely. The system has found the greatest success with
Generation Plastic, young adults who use plastic for over 40% of all
transactions. A tap is all it takes to speed through checkouts for coffee, gas
and many other convenience items. With no signature or PIN required the card
never leaves the consumers hand making it the most secure form of payment.
"MasterCard(R) PayPass(TM) provides the combination of convenience,
quality and security creating a compelling value for issuers like BMO." said
Kim Madore, VP Emerging Technology for Giesecke & Devrient.
Contactless cards work with a specially equipped merchant terminal. The
cards have a chip and antenna embedded directly in their plastic. The terminal
reads the card using radio frequency technology. Once payment details have
been captured by the terminal they are processed through the BMO Bank of
Montreal acceptance network. All of these details occur instantly and
seamlessly to the consumer.
"G&D is proud to support BMO's rollout of the new Mosaik MasterCard(R)
PayPass(TM) in the Canadian market. G&D is always working towards bringing the
consumer tomorrow's technology, today." said Anna Rossetti, President Giesecke
& Devrient Canada.
"BMO Bank of Montreal with our partner Giesecke & Devrient are working
together to fuel the storm of contactless bankcards expected to sweep the
Canadian marketplace in the year ahead. We are confident G&D is the partner to
provide the quality and experience expected by BMO Bank of Montreal
customers." commented Mike Kitchen Senior Vice President, Card & Retail
Payment Services for BMO Bank of Montreal.
About BMO Bank of Montreal
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly
diversified North American financial services organization. With total assets
of $359 billion as at July 31, 2007, and more than 35,000 employees, BMO
provides a broad range of retail banking, wealth management and investment
banking products and solutions. BMO Financial Group serves clients across
Canada through its Canadian retail arm, BMO Bank of Montreal, and through its
wealth management firms BMO Nesbitt Burns, BMO InvestorLine and BMO Harris
Private Banking. BMO Capital Markets, our North American investment and
corporate banking division, provides a full suite of financial products and
services to our North American and international clients. BMO also serves
personal and commercial clients in the United States through Chicago-based
Harris, an integrated financial services organization that provides more than
one million personal and business clients with banking, lending, investing,
financial planning, trust administration, portfolio management, family office
and wealth transfer services.
About Giesecke & Devrient
Giesecke & Devrient Systems Canada, Inc. (G&D) is the Canadian subsidiary
of Giesecke & Devrient GmbH. Since 1962, G&D Canada has been the partner of
choice leading Canadian financial institutions, government and industry in
providing secure card systems for payment identification. Giesecke & Devrient
is a technology leader in the field of smart cards, providing smart card based
solutions for telecommunications, electronic payment, health care, ID,
transportation and IT security (PKI). G&D is also a leading producer of
banknotes and security documents and is dominant in the field of currency
automation. Based in Munich, Germany, the G&D group has subsidiaries and joint
ventures around the world. In fiscal 2006, the Group employed close to
8,300 people and generated revenue of almost (euro)1.3 billion. For more
information, visit our web site at www.ca.gi-de.com.
For further information:
For further information: Media Contact: Jennifer Pain-Andrejin, Giesecke
& Devrient, Canada, Manager, Marketing & Communications, (905) 946-2808, (800)