If you’ve been watching the news, no doubt the trickle of mobile payment details has been percolating in your mind. NFC (Near Field Communications) is NOT in the iPhone 5 and Starbucks appears to be doing just fine without it. The idea of paying for stuff with your phone is not a new concept, but the race to marry a technology with controlling interest in a lucrative payment system appears at it’s height.
In a recent event, Rogers and CIBC have jointly announced (read the release here) a mobile payment solution based on NFC (Near Field Communications). This announcement is apparently a first in Canada (contact-less payments are already possible by way of other solutions – but generally not with smartphones).