Mobile Payment..coming from Rogers and CIBC
Three coffees for $5.80…remember that for a future game of trivial pursuit. Those are the specifics of the very first mobile credit card transaction in Canada. Oh yes..just in case the coffees were from Tim Horton’s, the credit card from CIBC and the phone a BlackBerry from Rogers
The historic transaction the result of a partnership between CIBC and Rogers saw Olympic gold medalist Simon Whitfield buy the coffees using the secure SIM card inside an NFC-enabled smartphone. Simon Whitfield, Pan American Games and Olympic medalist, performed the credit card transaction, buying coffee at Tim Hortons using the CIBC Mobile Payment™ App on a BlackBerry® smartphone from Rogers.
The system is called suretap and will be available November 16th to CIBC credit card clients using a Rogers smartphone, allowing them to pay for coffee, groceries, and other everyday purchases simply by holding their smartphone up to one of the tens of thousands of contactless payment terminals at merchants across Canada..pretty much anywhere that has the VISA payWave, MasterCard PayPass and Interac Flash terminals.. At the beginning the choice of smartphone will be limited to BlackBerry Bold 9900 and Curve 9380 and of course you must have a CIBC credit card to use the app. While the app won’t be available for two weeks NFC-enabled SIM cards are available today at Rogers locations. Android and Windows 8 Phone users will have to wait until early 2013..iPhone users have a much longer wait..until Apple launches a phone with a NFC chip.
The suretap process couldn’t be simpler, you can simply hold your Rogers BlackBerry smartphone up to a contactless payment terminal and the payment will be automatically charged to your CIBC Visa or Mastercard credit card.
By 2016, Technology Strategy International forecasts that almost 80 per cent of the smartphones in Canada will be NFC-enabled, and IE Market Research forecasts total mobile payments in Canada will reach $14.2B. What do you think? Are you looking forward to paying for credit card transactions with a swipe of your smartphone..let me know in the Comments section below.