Canadian banks, TD Canada Trust and National Bank, and wireless operator, Telus Mobility, are participating in Dexit debit express, a new stored-value cashless debit payment system. With Dexit, consumers can easily make small-value purchases by tapping an electronic tag on a merchant’s reader. Payments are debited from the consumer’s account, which can be reloaded to a maximum of CD 100 daily, at a cost of CD 1.50 per reload.
With Leo van Hove (who provided the link) I share the opinion that the future will see more similar hybrid payments instruments that are inbetween the pay now and pay before segment. Another one of those examples is the pre-authorised debit application by Mastercard. This provides the consumer with a guaranteerd payment facility at Point of Sale, but the money does not need to be loaded on the card. Instead, the payment facility draws on a blocked amount of money (reserved for this purpose) in the customers current account. And this would then not be e-money but remote access.. !
- article in Star
- the website of Dexit.