TORONTO, June 28, 2016 /CNW/ - Meridian, Ontario's largest credit union, is excited to announce a new payment option – Mobile Pay – which provides Members with the ability to make purchases using their smartphone at any retailer displaying the Interac Flash® logo across Canada.
This service is similar to using a contactless debit card in a point-of-sale transaction, and is available to Meridian Members who have an Android smartphone, Meridian's mobile banking app and Interac Flash.
Meridian is the first credit union in Ontario and one of the first credit unions in Canada to offer Mobile Pay. Meridian already provides its Members access to Interac Flash capability on debit cards and now that functionality will be extended to their smartphones.
"This new mobile pay platform provides our Members with another easy, convenient and secure way to access their money," said Gary Genik, SVP and Chief Information and Technology for Meridian. "Meridian is excited to be among the first financial institutions in Canada to offer its members this innovative mobile service – signaling another credit union first."
Members can sign up for Mobile Pay directly through Meridian's mobile banking app on their Android device. Mobile Pay is supported on handsets that are enabled with Android V4.4 OS or later.
Meridian, alongside three other Canadian credit unions, worked with a number of technology partners including Interac and Everlink, and their mobile banking provider to create Mobile Pay.
"The development of this service is a direct result of our Members requesting additional, secure means of accessing their money when making purchases, and helps many people better manage their transactions," added Genik.
With over 70 years of banking history, Meridian is Ontario's largest credit union, helping to grow the lives of its more than a quarter of a million Members, including over 21,000 business Members. Meridian has $11 billion in assets under management and delivers a full range of financial services online, by phone, by mobile and through a network of 77 branches and 7 business centres. Meridian Members also have access to THE EXCHANGE® Network, with more than 3,300 no-fee ABMs across Canada and 360,000 ABMs in the United States. For more information, please visit: meridiancu.ca.
SOURCE Meridian Credit Union
For further information: Diane Medeiros, Manager, Media & Stakeholder Relations, 416-597-4444 Ext. 2667