Mobile Payment Guidelines Released
The Canadian Bankers Association just released a mobile payments reference model as a voluntary guideline for development of mobile payments at point-of-sale in Canada. In practice this means that your phone will have a mobile wallet that replaces your debit and credit cards. Phones with NFC (near field communications) will be able to use this feature to pay by holding it near a payment terminal similar to how we can now use the paypass feature on our cards. The CBA press release has links to the full guideline, and a summary version.
From the press release:
The voluntary guidelines, technically . . . [more]
