Canadian Mobile Wallet Technology Leads The Charge in Development

While mobile wallet technology may be the hot topic of conversation in the United States, it’s still a few years away from any serious development. That’s far from the case in Canada, though, where most retailers already have the equipment in place to allow customers to simply swipe their mobile phones and pay for their purchases.

At this point, all that stands between Canada and mobile payments is an agreement that works between banks, credit card giants, and the telephone companies, and that’s already in the works.  The difference between Canada and many other nations is that most Canadians already own the type of smartphone necessary for such transactions, and most merchants already have the sophisticated technology necessary to allow them to pay by mobile phone. In the U.S., and in several other countries as well, at least one part or the other of that equation is lagging.

The real question now is how to incentivize these transactions to ensure customers turn to their mobile phones again and again.

Source: http://business.financialpost.com/2012/04/26/in-canada-phones-poised-to-challenge-credit-cards/