Lack of Apple Pay leads to new opportunities in Canada’s mobile payments space
Apple Pay has generated a great deal of interest in mobile payments, but it is not yet available outside of the United States. In Canada, the demand for mobile payment service is on the rise, and nTrust is willing to accommodate this demand and capitalize on the absence of Apple Pay in the country. The company intends to provide consumers with more than a mobile wallet platform, however, as its service will be considered an “all inclusive shop” where funds are transferred through a closed loop ecosystem.
Mobile wallets are becoming more important to consumers
Mobile wallets are quite useful to consumers, as they can store a wide range of information, such as financial details and information from retailers. These platforms can also facilitate mobile payments, which have become more popular with consumers that are relying more heavily on their smartphones. The service that nTrust aims to provide will allow users to create virtual representations of t heir payment cards in a process that is similar to tokenization, allowing them to make secure transactions.
20 new merchants sign up with ntrust
The company recently added 20 new merchants to its service, which will accept mobile transactions from those using the platform. These organizations have shown more interest in mobile payments as it represents a way to engage consumers in a more dynamic fashion. It is also seen as more convenient than conventional payment solutions, as consumers only need to use their smartphones to make a purchase rather than swiping a payment card or handling cash.
Secure mobile payment platform could be a success among Canadian consumers
The mobile payments market is quite crowded, with plenty of competition to go around. If nTrust wants to compete in this sector, it will have to find ways to convince consumers that it offers a secure and highly efficient experience. This experience must also be enjoyable for consumers, as lack of enjoyment with mobile payments platforms has lead to many services being abandoned by those that had used them in the past.
The Merchant Consumer Exchange holds an opportune position in the retail space. Because the company was established by several large retailers, these organizations have opted to withhold their support of other mobile payments platforms. Retailers like Best Buy and Wal-Mart have opted to deny transactions made through 