Rogers and CIBC to launch “suretap” mobile payment service on October 15th

Rogers and CIBC to launch “suretap” mobile payment service on October 15th
The Canadian carrier has teamed with CIBC to allow customers of NFC-capable devices to make payments against their CIBC Visa or Mastercard.

Initially, the service, called “suretap,” will only be available to Rogers customers with an NFC-enabled BlackBerry, and an NFC-enabled SIM card. Of course, using the service means downloading a CIBC app with which customers must validate their credit card credentials with. Rogers indicates that other devices will be supported “soon.”

What happens if your phone is lost or stolen? A quick call to CIBC and they can shut down the NFC SIM immediately. Also, the bank will continue to monitor transactions the same way they do traditional card-swipe transactions and will be able to detect potential fraud based on customer patterns and frequency.

The service will allow customers to charge up to $50-Canadian per transaction against their credit card by simply touching their device to a point-of-sale terminal. Rogers stores should have the NFC specific SIM cards available beginning Monday, October 15th.

While this is not a massive market rollout on a revolutionary scale, it is a step in the right direction where many may agree that in the foreseeable future, payments via NFC-enabled devices will likely be as ubiquitous as credit cards are today.

source: Mobilesyrup (1, 2)

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