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Elavon, Google bring Android Pay to Canadian consumers.

M2 EQUITYBITES-June 9, 2017-Elavon, Google bring Android Pay to Canadian consumers

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Elavon, a payments solution provider in Canada, has partnered with Google to enable the Android Pay(TM) mobile payments technology at merchant locations across the country, the company said.

More than 80 percent of Canadian wireless subscribers have a smartphone, more than half of which run a version of Android as their operating system, according to the 2015 Canada Digital Future in Focus findings from comScore. That was up from 44 percent using Android systems the year before.

For consumers, it's as simple as tapping their Android device to pay. First, consumers should download the Android Pay app and set it up by adding an eligible credit or debit card. Android Pay then works at any Elavon merchant that currently accepts contactless transactions on the point-of-sale (POS) terminals. Consumers simply wake their phones and place it near the contactless reader. The payment information is then securely passed to the point-of-sale system.

For merchants, Android Pay offers fast payment acceptance and the ability for consumers to add loyalty programs and special offers. Android Pay transactions are also protected by multiple layers of security. When a consumer adds a credit card to Android Pay, the actual card numbers are not stored on the device. Instead, a unique virtual account number is assigned to the card and stored on the device.

In addition to Canada, Elavon offers Android Pay acceptance in the US, U.K., Ireland and Poland and it continues to support Android Pay as it rolls out globally.

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Publication:M2 EquityBites (EQB)
Geographic Code:1CANA
Date:Jun 9, 2017
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