Update On MasterCard Quick Payment Service In Canada

MasterCard QPS offers consumers and merchants quick, secure and easy transactions by eliminating the need for a signature or receipt for purchases made with a MasterCard card (up to a specified floor limit per merchant category). MasterCard made the announcement at the Retail Council of Canada's annual conference, STORE, taking place June 5-6 at the Toronto Congress Centre.

"Canadians want to be able to use their credit card for all kinds of everyday purchases, and MasterCard QPS gives consumers the opportunity to make paying with your MasterCard card faster than cash," said Nagesh Devata, Vice President Acceptance and Product Solutions, MasterCard Canada. "MasterCard QPS also delivers great benefits to participating merchants, including faster transaction processing and increased traffic as checkouts move faster. If the eagerness with which merchants are embracing MasterCard QPS is any indication, long lineups will soon be a thing of the past."

"Enabling MasterCard QPS at your business is like upgrading from dial-up to high-speed Internet," said Devata. "The transaction is completed in fewer steps than it takes to process any other payment type, including cash. Merchants benefit from increased average ticket size as customers are now able to use their card and not rely on the cash in their pocket, and consumers benefit from less traffic as checkout processing can move more quickly."