Personal Finance

Thoughts on mobile payments

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  • Aug 30th, 2014 8:07 pm
Jr. Member
Sep 17, 2013
191 posts
633 upvotes
Toronto, Ontario

Thoughts on mobile payments

Hey guys,

Not sure if this is the right section to post this in so let me know if this needs to be moved somewhere else.

Just wanted to get your thoughts on the mobile payments space. I'm hearing more and more about it and I myself am trying out different apps. From Paypal to Tabbed and now Lorax, do you think this is going to take off or is it doomed to fail?

Starbucks is really the only one that has CRUSHED it with their loyalty + mobile payment platform. Why is that?
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10 replies
Deal Fanatic
Jun 17, 2013
5120 posts
1501 upvotes
Montreal
Not 100 percent sure on what you mean by mobile payments

I've used square personally and love it. Easy to use. No issues.
Deal Addict
Mar 3, 2009
1913 posts
1221 upvotes
Ottawa, ON
neverhaveiever wrote: Not 100 percent sure on what you mean by mobile payments

I've used square personally and love it. Easy to use. No issues.
That's accepting mobile payments as a merchant. I think he is talking about using his phone with NFC, etc, to make payments.
Deal Addict
Nov 11, 2004
3503 posts
615 upvotes
Ottawa
its the future..
Hello
Deal Fanatic
Aug 21, 2007
6055 posts
853 upvotes
Markham
i llike the concept of it but so far limited functionality

im more interested in fully digital wallets so i dont always have to carry around loyalty/membership and gift cards...id like to see that come out if possible
Jr. Member
Sep 17, 2013
191 posts
633 upvotes
Toronto, Ontario
adeel wrote: i llike the concept of it but so far limited functionality

im more interested in fully digital wallets so i dont always have to carry around loyalty/membership and gift cards...id like to see that come out if possible
That would be pretty cool. Definitely +1 on the loyalty/membership stuff. I hate carrying those extra cards around. Are there any mobile payment solutions you've tried so far?
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Deal Fanatic
User avatar
Sep 10, 2005
5701 posts
3662 upvotes
GTA
Maybe if Google Wallet was supported in Canada, I would use it.

I don't have accounts with the major banks aside from Tangerine so I don't really have access to any apps I could use even if I wanted to.

I was wondering about this too. We've had NFC in Canada for years now but not a whole to take advantage of it. If the new iPhone does include NFC, maybe we'll see more adoption.
Jr. Member
Sep 17, 2013
191 posts
633 upvotes
Toronto, Ontario
There's also the new Bluetooth standard as well that would make a lot of sense since they're available on both platforms.

The challenge for sure is getting the big banks involved. Paypal is it's own environment and not everyone's a user. I've heard of Tab but haven't used it. Lorax is interesting in that they just connect to whatever credit card you have and you just tap and pay without pulling out cards or cash. Maybe it's the loyalty piece that'll start enticing people to try mobile wallet/payments?
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Deal Fanatic
Aug 21, 2007
6055 posts
853 upvotes
Markham
willstastyle wrote: That would be pretty cool. Definitely +1 on the loyalty/membership stuff. I hate carrying those extra cards around. Are there any mobile payment solutions you've tried so far?
nothing that works...i do like how for example like someone mentioned starbux has their app...its not as good as one app for everything, but at least with the app i dont have to remember to bring stuff with me, since i always have my phone...i would grudingly accept loyalty apps for each thing i guess
Dave98 wrote: Maybe if Google Wallet was supported in Canada, I would use it.

I don't have accounts with the major banks aside from Tangerine so I don't really have access to any apps I could use even if I wanted to.

I was wondering about this too. We've had NFC in Canada for years now but not a whole to take advantage of it. If the new iPhone does include NFC, maybe we'll see more adoption.
who knows
willstastyle wrote: There's also the new Bluetooth standard as well that would make a lot of sense since they're available on both platforms.

The challenge for sure is getting the big banks involved. Paypal is it's own environment and not everyone's a user. I've heard of Tab but haven't used it. Lorax is interesting in that they just connect to whatever credit card you have and you just tap and pay without pulling out cards or cash. Maybe it's the loyalty piece that'll start enticing people to try mobile wallet/payments?
i think loyalty will get ppl to start. if its easier, why wouldnt ppl do it


i also hope couponing gets more digital as well

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