Rogers and CIBC Launch New Mobile Payment Service
To use the service, a secure SIM card is required inside a near field communication-enabled (NFC) smartphone.
CIBC and Rogers used a downtown Tim Hortons shop to launch a new mobile wallet service on November 2nd.
The first purchase was made by Olympic gold medallist Simon Whitfield who paid for a coffee using the CIBC Mobile Payment App on a BlackBerry smartphone from Rogers.
To use the service, a secure SIM card is required inside a near field communication-enabled (NFC) smartphone. The customer holds their smartphone up to a contactless payment terminal and the amount is charged to their CIBC credit card.
Customers may use mobile payments at stores using either Visa payWave, MasterCard PayPass or Interact Flash.
Robinson added: “Making the first mobile credit card payment means that we are one step closer to allowing Canadians to store everything they need, securely, in their smartphone.”
When the full service begins on November 16th, only the BlackBerry Bold 9900 and BlackBerry Curve 9360 will be enabled to use the new app. Smartphones on the Android and Windows Phone 8 platforms will join in by early 2013.
Research firm, Technology Strategy International forecasts that by 2016, almost 80 percent of the smartphones in Canada will be NFC-enabled, while total mobile payments will reach $14.2 billion according to IE Market Research.
Starting on Nov. 2, NFC SIM cards required to access the solution on Rogers suretap ready devices may be ordered online.
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