Tag: nfc mobile payments

The debit and mobile payments pilot program has now begun at a Canadian location.

McDonald’s is making mobile commerce news headlines with its brand new NFC technology based transaction system, which is being introduced on a trial basis at a Canadian restaurant location.

This would allow customers of the fast food giant to be able to pay for their meals using smartphones.

The NFC technology system is being provided by Interact Flash, a contactless solution from the Interac Association. It allows people to use their enabled debit cards and smartphones to tap-to-pay for their purchases. This functionality is currently limited only to certain specific cards and devices.

Also part of this NFC technology payments partnership is RBC Royal Bank, through their mobile app.

RBC has integrated the NFC technology into their application which can be downloaded and used through BlackBerry smartphones that are enabled with a near field communication chip. Together, RBC and Interac have made it possible for McDonald’s to offer these mobile payments to its customers.

According to Interac, this is the first time in Canada – as well as the only one currently operating – that contactless debit and mobile payments are accepted through NFC technology. The president and CEO of Acxsys Corporation and the Interac Association, Mark O’Connell, said that “This achievement in mobile debit innovation helps solidify our role in the mobile payments space in Canada.”

He also added that it will soon be possible for people in Canada to be able to use their smartphones to “pay with Interac Flash quickly, conveniently and securely” when they are making their typical purchases in stores and restaurants. He explained that this will bring additional value for consumers, but also for partner financial institutions and for the merchants, themselves.

The Interac Association debit card and payments services currently offers funds access to people in Canada at approximately 60,000 different cash points, as well as 766,000 point of sale terminals country wide. They have already led the way in the country for online debit payments and intend to use NFC technology to help to ensure a position as a leader in mobile payments, as well.

Hong Kong aims to make mobile payments more common

In many parts of the world, mobile payments have become more than just a passing fad. More consumers are becoming enamored with the idea that they can purchase products using only their mobile device, rather than physical currencies or credit cards. Hong Kong has become one of the most active markets in terms of mobile payments, with many of the consumers that have smartphones and tablets opting to participate in mobile commerce. For some, however, the concept of mobile payments can be somewhat confusion. In an effort to make mobile commerce more accessible, the King Kong Monetary Authority has launched a new initiative to spread awareness of mobile payments.

Study shows growing support for mobile commerce

The Hong Kong Monetary Authority recently finished a study concerning NFC-based mobile commerce. NFC-based systems are currently the most popular mobile commerce platforms in Hong Kong, despite the relatively few NFC-enabled mobile devices that are available to consumers. The study shows that consumers are interested in NFC technology, but also mobile commerce platforms that do not use this technology. The study outlines recommendations concerning future mobile payments initiatives that may take form in the Hong Kong market.

Agency to work to establish NFC mobile commerce infrastructure

According to the Hong Kong Monetary Authority, the study has shown the need for an expansive, NFC-based mobile commerce infrastructure. In order to meet the needs of consumers, the agency will work to develop such an infrastructure and increase the availability of NFC-enabled mobile devices. This infrastructure will have a strong focus on NFC technology, but will also be accommodating to mobile payments that are not based on NFC so as to remain flexible to future trends that may emerge in the mobile commerce market.

Awareness may be key to continued success

The agency is also interested in raising awareness of mobile payments. Many consumers have shown interest in the idea of mobile commerce, but are not entirely sure how to participate. The agency will work to inform consumers how mobile payments work, whether NFC-based or otherwise, in the hopes of making consumers more comfortable with purchasing products using their mobile devices.