Earlier this week we had told you that Canadian wireless provider Rogers in association with the Canadian Imperial Bank of Commerce (CIBC) introduced a digital payment app for mobile transactions by the name of “suretap”. According to Rogers, it was the first transaction of its kind; a payment solution performed through NFC enabled devices. However, other claims made by CIBC and Rogers were strongly negated by PayPal.
Senior Executive Vice-President of CIBC, David Williamson said that, “We’re pleased to make history in mobile commerce in Canada by completing the country’s first mobile credit card transaction.” Then Rogers’ Vice President of Emerging Business, David Robinson, also made a similar sort of claim by saying that, “Making the first mobile credit card payment means that we are one step closer to allowing Canadians to store everything they need, securely, in their smartphone.” This really put a fire under PayPal leading to the company strongly opposing the Rogers and CIBC claim by arguing that, “Canadians have been able to use PayPal to pay directly from their smartphones … since earlier this year,” and to the extent NFC is concerned it “is simply a technology that enables communication between two devices that are close to each other.” So “It is far from the Holy Grail for mobile payments.”
One reason for negating NFC technology was that PayPal opted out of using this technology and it is the main reason why this debate has caught fire. Some may think that it’s a weak argument by PayPal, however many including PayPal believe that NFC should not be considered as a top standard for performing mobile payments. Managing Director of PayPal Canada, Darrel MacMullin had already issued a long piece of writing on the difference between “digital wallets” used by PayPal and “mobile wallets” that Rogers and CIBC are offering. According to this article “digital wallet” is a cloud service, which PayPal customers can use to buy goods without tapping their smartphones thereby making it a superior alternative to “mobile wallets”. In addition to this, not every other device supports NFC. For instance Apple’s iPhone, which is one of the largest selling smartphones in the world opted out of offering the technology. Therefore, not many people will be able to use “Suretap” service of Rogers and CIBC.
Famous coffee chain, Starbucks also has a similar stance in this regard, as they have also started a mobile payment service in the previous year that does not involve NFC, and thus far has been successful in Canada to this day. Starbucks has processed millions of transactions through this service so far. At this point no one can draw a conclusion because it seems that this debate will carry on, as more telecom companies and banks are planning to launch services that are akin to “Suretap”.
Source: Tech Vibes
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