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Delivering the next wave of innovation to Canadians
September 17th, 2012 a 2:54pm
Photo credit: Pierre Roussel - Images Distribution
Earlier today, Rogers President and CEO Nadir Mohamed delivered a speech at the Canadian Club in Montreal about innovation – what’s next and what Canadians can expect.
One of the exciting innovations Nadir talked about was mobile wallet. Earlier this year, we announced an agreement with CIBC to launch Canada’s first mobile payment solution which will allow Canadians to pay with their CIBC credit card at the checkout counter using their Rogers smartphones. We know this is something Canadians are excited about. In fact, in our first Rogers Innovation Report, we asked Canadian smartphone and tablet users about the idea of a mobile wallet and 61% said the mobile wallet will make their lives better. 43% felt the traditional wallet would be replaced over the next few years and a whopping 79% said they expect to make more purchases on their smartphones in the future.
Here’s an excerpt of what Nadir had to say about mobile wallet:
Today the average Canadian carries 22 plastic cards in their wallet. Think transit, credit, debit, loyalty and government-issued ID. If you do the math, we’re collectively carrying 675 million pieces of plastic. At $5 a pop, that’s a lot of plastic to manufacture and distribute.
Today your wireless device is already your phone, your camera, your computer.
Tomorrow it will be your virtual wallet…a safe and secure platform that uses the SIM card inside your NFC-enabled device to safely manage all of your information.
Everything you need for you and your family, conveniently and securely stored, all in one virtual place. Merchants will strengthen their relationship with consumers through loyalty and other rich offers.
Governments will see reduced fraud and increased service levels thanks to smart technology and other security capabilities.
And consumers will have convenient, instant access to all their cards, and the ability to carry what they want…without being limited by the size of their wallet…
Recently Rogers and CIBC announced they will launch the first commercial mobile payment solution in Canada. It gives Canadians the ability to pay with their credit card using their smartphone. It’s as secure as using your credit card today. And it’s easier to shut down a mobile wallet than it is to deal with a lost physical one.
This is Canada’s first real foray into mobile payments…and it’s the first real step in Canada’s journey toward a truly digital wallet.
Are you excited about the prospect of using your smartphone for mobile payments?
To read more about Nadir’s speech at the Canadian Club, check out our RedBoard Biz post here.
Miranda is a regular contributor to RedBoard
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This is all lovely, but when Rogers can’t even implement an Android Visual Voicemail app that works, what confidence should I have that they achieve the more complex stuff like mobile wallet?
I’m not excited about that. That is as stupid as the paypass and the rest of the swipe crap. If someone gets my cards before I realize it they could run them up big time.
This is a stupid idea and the persons pushing it should be fired.
What are they thinking?
Absolutely, that’s one reason I’m getting a Lumia 920 (IF any info would actually be released on availability!) or NFC-enabled Android phone. The argument of someone racking up your cards is only valid if you’re stupid enough to not set a PIN number for your cards on the phone. Then again, you should have a password on your lock screen anyways if you have sensitive information, it’s really your own fault if someone else gets to it. It’ll still save space in your wallet, it won’t be any more inconvenient than actually using your card, and you’ll be protected.
Thanks. Your answer seems to satifsy my imediate thoughts of concern, that if yoy lose the card or have it stolen, someone could have all your personal info in the one card.
Hope the solution to this potential problem is recognized by all, is in hand by the ccard designers and was covered in the speech, haven’t read it all,’.
Recommended to be coureous on line.
Ron
Hi Ron,
It’s actually easier and faster to shut down a digital wallet than it is to address a lost physical wallet with multiple cards. As soon as a consumer realizes they have lost their device (and digital wallet) they notify their carrier. We will then lock the wallet and we immediately contact all card issuers on the wallet to shut down the cards.
In the unlikely event a client was the victim of fraud they would be protected by CIBC’s Online Security Guarantee which would reimburse them for any funds lost as a direct result of fraud.
The beauty of Android, is that an app can make it mandatory to have a lock screen password/passkey/security pattern.
If they’re smart and include that requirement in the app, then it will force even dumb people to be smarter about their security.
So will we also be able to use Google Wallet or Windows Phone 8′s Wallet with our own cards without needing any special Rogers/CIBC cards or apps? I don’t understand why Rogers even needs to be involved in this regard.
Hi,
It’d be a question best directed at Google and Windows. Smartphones have the ability today to securely store everything you carry in your wallet; think debit, credit cards, loyalty, health and library cards. We’re passionate about enabling connected experiences for Canadians, and mobile payments on more way we’re enabling meaningful connections for our customers.
Right, but is Rogers going to actively block those services as offered by Google and Microsoft since they will compete with this Rogers/CIBC venture? Windows Phone 8 will use secure SIM for the wallet information. Will Rogers support secure SIM?
The SIM is a secure platform that will allow clients to manage all their confidential credit card information. To open a virtual card in a mobile wallet on your smart phone, you will have to authenticate yourself with a password and once you open the wallet your card will only be active for thirty seconds. After that, access shuts down.
I would think since it’s a hardware function that an app is coded for, Rogers can’t actively block it, just like they can’t actively block anything from Apple’s app store. That said, if Windows Phone 8 has one particular Wallet app, CIBC will have to support the functionality on their end while all the user should have to do is choose it from a list and enter their information. Since there hasn’t been any solid information about these features yet from Microsoft I can only assume it would be very similar to how Apple’s Passbook functions.
I’m looking really forward to start using this, the magnetic stripes on my cards seem to break off every few months if the chip hasn’t already started malfunctioning.
it’s about time! will my wish may finally be granted?
hey worry warts! Don’t you also need a pin# to activate just like debit or credit cards. Now would this ease your tension, and let that smoke comming out of your ears go out?
At this point folks, it’s all talk. This ‘advance’ is years away from happening, so there’s no point in getting worked up about it.
By choosing one bank (CIBC) and one eligible phone (Blackberry- a bizarre choice given that it’s 2012, not 2008), this arrangement smells an awful lot like a marketing deal…brand leveraging…another means of inundating a captive audience with more unwanted advertising.
In short, this is something for CEOs to brag about at fancy dinners and other gatherings filled with favoured audiences (regulators, competitors, analysts and other assorted industry types) they’re seeking to impress.
In short, this isn’t something that’s going to be a part of the everyday lives of most Canadians for quite some time- it’s not something we should be concerning ourselves with.