Canadian debit and credit card processor Moneris will use countertop devices from VeriFone that are designed to accept and secure a variety of electronic payments.

Moneris will shortly begin installing the VX 520, a countertop device that handles encryption, decryption and processing. It is also includes contactless capabilities, and can accept alternative payments, EMV cards, mobile wallet and magnetic stripe cards on the same device. The device also supports loyalty and gift cards.

"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," says Jeff Guthrie, chief sales and marketing officer at Moneris, in a Jan. 6 press release.

The contract comes as VeriFone leans on mobile and other new payments technology to recover from a recent earnings slump. Moneris is attempting to expand its business by adding new mobile payments options for restaurants and other retailers.

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