Digital Currency

Within the payments industry, demand for convenience at checkout is constantly growing. NFC/contactless mobile payments has contributed a great deal to change the consumer’s behaviour, and the ultimate dream to become a cashless society does not seem too far away. Digital currency is slowly making its mark in Canada, and soon all consumers will be able to pay for goods and services as well as send and receive money from peers, all through their smartphones. Merchants all across Canada need to be better prepared to accept these modern payment methods to not only enhance their customer’s experience, but also to grow their own business.

Digital Currency

For both merchants and consumers, there are many benefits to digital currency including:

  • Improves life of smart terminals: Since the payment is done electronically and there is no mechanical contact with the terminal or mPOS solution, risks of damages on the hardware and maintenance costs are reduced for merchants.
  • Customer loyalty: Digital currency also helps merchants grow their business by incentivizing their customers to shop more at their establishments and create brand loyalty.
  • Low transaction fees: Per transaction fees using digital currency are fixed and not a percentage and are a fraction of the lowest alternative available in the market.
  • Competitive advantage: Accepting a modern form of payment gives merchants competitive advantage over other businesses in the same industry.

Learn how Ingenico Group partnered with nanoPay Corporation to enable Canadian retailers to accept MintChip digital cash.

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