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The number of contactless payments in Canada increased by 17% in 2023 to reach 68% of all in-store payments, according to the recently released Canadian Payments Forecast 2024. The value of contactless payments increased by more than $80 billion over the year representing a year-on-year growth of 20%.
Tokenisation has become an important component of enabling secure payments in Canada, and the payment networks are using it to extend their reach and control over the payments ecosystem, according to a new in-depth analysis by Technology Strategies International Inc. (TSI).
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