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Jonathan Camhi
Jonathan Camhi
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Mobile Payments and Our Neighbors to the North

This week BS&T will be examining the development of the mobile payments market in Ontario, Canada, and looking for lessons that could apply to the U.S. market.

Canada

Mobile payments is getting to be a big deal in Ontario, Canada -- at least big enough that the Ontario Ministry of Economic Development wants people to know about all the work going into mobile payments here in Ontario. I’ll be participating in a media tour offered by the ministry over the next few days to see the development of mobile payments in Ontario. Banks, card companies, telcos and others will explain how they are contributing to that development here.

[See Related: How Big Data Can Drive Mobile Payments Adoption]

Canada already has a jump start on building a truly functional and universal mobile payments ecosystem compared to the U.S. The country has much higher adoption of NFC terminals among merchants, and has also seen some more collaboration among different organizations in mobile payments solutions, leading to a less fragmented market. For instance, when CIBC released its NFC-based mobile payments app last year, it did so in partnership with Rogers, one of the country’s biggest telcos.

Over the course of the week I’ll be posting stories on BS&T about the mobile payments market here in Ontario, the efforts that financial services and technology companies are making in the market and what kind of benefits they are seeing from those efforts. So stay tuned and please leave your comments below about all things mobile payments and Canada (but no jokes about igloos or polar bears.)

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

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Greg MacSweeney
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Greg MacSweeney,
User Rank: Author
9/25/2013 | 12:30:43 PM
re: Mobile Payments and Our Neighbors to the North
Telco, banks and merchants working together? wow, that's a far fetched fantasy here in the US, where all 3 interests are moving in different directions.

As to Kathy's point, the banks in Canada might have better success driving adoption because of their size. They can adopt a single standard and move forward with it. It will be interesting to watch.
Yaldez4FSI
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Yaldez4FSI,
User Rank: Apprentice
9/24/2013 | 8:00:27 PM
re: Mobile Payments and Our Neighbors to the North
Good questions, Kathy. I will be interested in reading about how things are going. saw a video about what was happening in Belgium, where the Telco, the bank and merchants were acting together.
KBurger
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KBurger,
User Rank: Author
9/24/2013 | 2:05:53 PM
re: Mobile Payments and Our Neighbors to the North
It will be enlightening to see what role banks are playing in the m-payments ecosystem. Given that there are fewer banks (compared to US), does that mean they have more leverage because of their size/dominance, or are they also in more of a wait-and-see mode as in the US?
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