The Battle for Mobile Money in Canada! Eh!
Canada has experimented for decades to digitize their money, creating convenience, security, and availability. The Banks have tried and the three big mobile operators have invested in a joint venture, EnStream, and even launched a product that flamed out; ZoomPass.
Apparently mobile payments is flourishing in Canada!
- Rogers Wireless has launched a companion card and NFC enable mobile wallet
- RBC and Bell are working on a joint product
- MTS and SaskTel are working on introducing a mobile payment product
TD appears to be contra-the-herd by announcing expansion plans to add an additional 250 machines into Atlantic Canada; that would be in the provinces of Quebec, New Brunswick, Nova Scotia, Newfoundland, Prince Edward Island and eastern Ontario.
If we were really investing into a global digital currency would we not be eliminating ATM machines and investing into the infrastructure to drive a digital and mobile payments!
Food for thought!