Near Field Communications Handsets and Tags, NFC Pilots and Projects

Canadian telcos launching mobile payment service

Monday, June 15, 2009

Three of Canada’s largest wireless carriers plan to deploy today a mobile payment service that will enable customers to send, request and receive money via their mobile phones. Zoompass, managed by Enstream, is a joint venture from Bell, Rogers and Telus.

Mobile phone users can register for the service online and then download the Zoompass software onto their phone that will allow them to send, request and receive money with other mobile phones via SMS text messaging, or, if the other user is also a Zoompass account holder, via email.

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MarketsandMarkets has released a new report predicting that the value of mobile payment transactions in the US will reach $56 billion in 2015.

According to the report, “Mobile Payment - Advanced Technologies (NFC), Strategies And Future Of Remote & Proximity Payment In US,” the market for NFC mobile payment in the US is currently in its infancy, with an adoption rate of only 1.7%.

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MasterCard’s stock dropped 3.6% on the recent announcement Verizon and AT&T are partnering with Discover and Barclays to launch mobile contactless payment services, but the company says it has its own ventures in diversified payments.

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New analysis from Frost & Sullivan shows that current smart card-based transit projects in growing European and world cities will lead to an 11% Compound Annual Growth Rate (CAGR) in smart card shipment from 2009 to 2015.

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China Unionpay has formed a mobile payments industry alliance with a group of Chinese banks, wireless operators and handset manufacturers, according to finextra.com.

China Unionpay says the alliance’s goal is to help different industries–transportation, commercial retail, hospital–coordinate efforts to create a single, open m-payments platform defined by the ISO standard.

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Canadian Retail Solutions (CRS) and YESpay International have partnered to deliver EMV chip and PIN managed card payment service to Canadian customers. YESpay’s EMBOSS is an EMV chip and PIN accredited and PCI-DSS Level 1 certified managed payment service.

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The Canadian contactless payments market is set to take off as large stores rapidly adopt the new technology, and smaller merchants threaten to make the jump as well, according to itbusiness.ca.

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