Canadian banks introduce mobile payment guidelines

TORONTO Mon May 14, 2012 12:00pm EDT

TORONTO May 14 (Reuters) - Canada's banking industry on Monday introduced voluntary guidelines for the f ledgling mobile payments industry as banks seek to establish open standards for secure transactions over smartphones.

The Canadian Bankers Association, a trade body representing banks operating in the country, presented the guidelines as a blueprint for rolling out services enabling consumers to pay for goods with a swipe of their smartphones.

Canada is in a good position to take a leading position in mobile payments. Thousands of retailers already have the necessary equipment in place.

The guidelines can be found here:

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