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Leave Your Card At Home With The Latest Mobile Wallets

Jan. 30, 2014
3 mins
A senior uses their smartphone to pay on the point of sale terminal

We’re getting closer and closer to the day where our smartphones really can do it all.  On-the-go payments are now a reality, thanks to mobile wallet and instant payment options from Canada’s biggest banks.

Ready to leave your cards at home? Check out our roundup of mobile payment options below.

NEW: The RBC Wallet

RBC unveiled its RBC Wallet last week, available for RBC clients using Bell Mobility Samsung Galaxy S III or Samsung Galaxy S4 phones. The app will let users pay with either their RBC debit or credit cards for purchases up to $100; it can be used at any retailer that has a contactless payment terminal (such as Interac Flash and Visa payWave). According to Dave McKay, group head of personal and commercial banking at RBC, the goal is to eventually have RBC Wallet available on all phones with all carriers.

NEW: CIBC Mobile Payment App

CIBC recently expanded the availability of its mobile payment app. Their app is now available on Samsung Galaxy S4 and SIII and Samsung Galaxy Note II phones, as well as the HTC One, BlackBerry Z10 & Q10 and BlackBerry Bold 9900 phones — but only for users on the Rogers network. It can be used for credit card purchases up to $50.

Update: CIBC has announced that its mobile payment app is now available with Telus smartphones as well, including:

  • Samsung Galaxy S4
  • Samsung Galaxy SIII
  • Samsung Galaxy Note II
  • HTC One

Drazen Lalovic, vice-president of market planning at Telus, stated in a release, " "Our customers have told us they want an easy-to-use and secure way to pay using their mobile devices and today's announcement is another step towards enhancing their mobile experience."

TD and PC Financial: Ugo

TD and PC Financial announced Ugo — their mobile wallet with combined loyalty program features — back in November, with an expected rollout date of spring 2014. Users with a TD Visa or a President’s Choice Financial MasterCard will be able to use the Ugo app to pay for their purchases at retailers with Visa payWave and MasterCard PayPass-compatible terminals. Loyalty program points will be automatically loaded and can be redeemed for purchases. Ugo will be available on BlackBerry and Android devices.

BMO: Mobile PayPass

BMO has offered its version of mobile payment since mid-2011. Its Mobile PayPass Tag is a sticker that BMO MasterCard holders affix to the back of their smartphones. Users can use the Tag for purchases up to $50, by simply tapping the sticker on PayPass-compatible terminals. If desired, users can sign up for email notifications with details for each purchase. Tags can be ordered for free from BMO.

Next Up: Scotiabank and National Bank of Canada

Both Scotiabank and the National Bank of Canada offer mobile banking apps, but neither have announced definite plans for mobile payment apps. But with competition in the mobile payment market place growing fierce, it’s only a matter of time before the last of the “Big Six” catch up.

Do you use a mobile banking app to pay, instead of using a credit or debit card, or cash?

Jaclyn Tersigni

Jaclyn Tersigni is a Toronto-based writer and editor. She's written on everything from tea sommeliers to motorcycle-riding granddads to regifting etiquette. With a journalism degree from Ryerson University, she got her start at ELLE Canada and The Globe and Mail. Her interests and hobbies include all things ocean-related (notably, the beach, oysters and surf culture), overbuying used books and clothing, riding her bike all over town and, most importantly, music old and new.

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