Moneris Solutions, Canada's largest card processor, will install VeriFone's VX 520 countertop card readers at its Canadian merchants, enabling them to accept alternative payments such as mobile wallets as well as EMV (chip-and-PIN) cards and traditional mag-stripe cards from a single device. Merchants can also use the VX 520 to support value-added applications such as loyalty or gift card acceptance, VeriFone said in a news release.

The VX 520 is PCI PTS (Payment Card Industry PIN Transaction Standard) 3.X-compliant and has a fast processor that can handle payment encryption, decryption and processing for improved security and reduced transaction times, according to VeriFone.

"The adoption of VX 520 devices will expand merchants' payment options, while giving them an opportunity to process payments faster and spend more time running their business," Jeff Guthrie, chief sales and marketing officer at Moneris, said in a news release.

Moneris said it has 350,000 merchant locations in North America.

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