Though they're not saying much publicly yet (a spokesperson declined to comment in detail for this story), news came last week that Rogers Communications is pilot testing new digital payment solutions, which it hopes to introduce to Canadian customers this year.
That news came as part of a broader story about a deal the Toronto-based telecom has struck with Netherlands digital company
Gemalto, which has been chosen to provide security technology for this new service.
The technology Rogers is currently testing relies on what's called near field communication (NFC), a radio-communication standard which provides a way for mobile devices to exchange data and conduct transactions—creating what is often referred to as a "paperless wallet." Essentially, Rogers is creating a system which will allow its customers to use the SIM cards in their phones to make credit and debit card purchases and payments. They are also anticipating the "future addition of tap-and-go services including coupon redemption, loyalty programs, transit and other digital identification," according to a recent press statement.
While Gemalto will be testing the security features on this service, the innovative new technology may take some getting used to. Losing your phone—or worse, getting it stolen—may be that much scarier when it holds not just your contacts' information and family photos, but is enabled to conduct financial transactions as well. It is undeniably the direction in which financial institutions are moving, however, and we'll be watching to see how quickly customers adapt.
Writer: Hamutal Dotan
Source: Allison Fitton, Rogers Communications