Dexit is a Canadian operator with a smattering of ex BMO executives, albeit one less with Persofsy’s departure.

Dexit is a contactless micropayment service, used for purchasing coffee, lunch and similar. The merchant must have a Dexit acquiring device/ terminal to participate, and I suspect this is limiting Dexit’s growth. Also the customer must carry the Dexit tag.

Other micropayment operators, such as Cardis, lever existing infrastructure, ie the debt card terminal acquiring device.

Payments News: Dexit Announces Board, CEO Changes – March 20, 2006

Ms. Martin replaces Renah A. Persofsky, the founder of the company, who has served as President and Chief Executive Officer since 2001. Ms. Martin will also become a director of the company, replacing Ms. Persofsky, who has resigned from the Board.
…
As Dexit enters a new phase, it was the Board’s view that a different set of skills is necessary to meet the company’s new challenges. Janet’s leadership abilities and senior managerial experiences are ideally suited for the next stage of Dexit’s development,” said Jeffrey Chisholm.

Relevance to Bankwatch:
Micropayments offer an opportunity to Banks to reduce operating (cash handling) costs, and and an alternative revenue proposition through provision of a convenient solution to customers.
To date Banks’ generally have nothing in the micropayment space, except the Quick Pay Service, but its a very limited offering through credit cards and mainly airports.