Visa launching new “Digital Wallet” in Canada “fall 2011”


  • Alex Perrier

    What about security?

    • Jim R

      Like he said: what about security? If all it takes to make a purchase is your email address, then a lost or stolen phone seems to represent quite a risk.

      Would also be nice to know the banks’ position on covering the costs of transactions performed with lost/stolen phones (yes, I realize you are supposed to notify the bank as soon as you realize your credit card has been lost/stolen).

    • bummy

      …It would be as much risk to lose your credit card.
      Most places only require a signature which they dont even check. Some places don’t even require a signature when using a credit card.

      I’m sure with email + pass on a cellphone, you can deactivate it almost immediately once you realize your phone is missing.

  • Paolo

    BMO & CIBC were not mentioned. Just goes to show which banks are relevant in Canada.

    • Fatz

      I think BMO primarily issues only MasterCard, but not sure about CIBC.

  • ACE

    This has been around since the hay days of the J-phone in Japan like 2001! Finally 10 year old technology comes to canada. Rejoice! 😛

  • Adam

    Not certain about this, what will security be like/ Since Android does not offer the option to remotely wipe a phone, what happens if I lose my phone?

    • Bear

      There are many apps that offer remote wipe dude.

    • Jay

      You don’t even need an app. I can wipe my phone remotely from my work’s web based exchange server.

    • plmokn

      You can buy Norton which is only for Android devices that will allow you to remotely wipe your phone. If youre going to be using this technology that 40$ investment is probably worth it.

    • Keith


      Both Windows Phone and iPhone have buikt-in remote wipe so no need to pay $40 for a 3rd party solution.

  • Geoff

    Now hopefully we see something like this for Mastercard!

    And no, Paolo, you can’t get a Visa through BMO. I admit that I thought that too for a second before remembering that we are only talking about Visa here.

    • Paolo

      Yes, true Geoff, didnt really think about that, but CIBC should be on there as they also offer both Visa and Mastercard.

  • Ryan

    What happens if you lose your wallet now? You can’t remote wipe that, you call Visa, cancel that account and get a new one. Done and done.

    I am quite excited for this, hopefully it wont take to long to roll out to all businesses. Once it does, I will be replacing my phone with one with and NFC chip in it.

    • Adam

      @ Ryan

      All my cards are chip cards, and while no, not all places take chip, alot do, which means a good chance that anyone who takes my card might get denied. Gives me a little bit more extra time between losing and realizing I’ve lost it to do something about it.

      And I have never lost my wallett. I constantly leave my phone lying around somewhere, surprised I’ve never lost it for good.

  • Ryan

    You can password protect your phone, which would give the same security I would think.

    I expect someone at Visa will have thought about security, since if someone uses your card now without your permission you can get the charge taken off your account, and they cover it, so it would be in their best interest to have some form of security.

    I do wonder if they will let you make it so you have to enter a pin in order to use it.

    • jonny

      It is not Visa who covers the cost of fradulent transactions, it is the merchant. Visa has no incentive to provide any level of security.

  • Terry

    My favorite part is how they call NFC payments methods innovative when it’s been in Europe for a while now and Japan for years.

    Innovative if you don’t realize there’s more then one continent I guess.

  • Telusman

    1) RBC also offers Mastercards
    2) Visa Paywave is merely a re-brand of Mastercard’s PayPass, so I dont’ see why this can’t be applied to Mastercards.

  • Marion

    My initial thought is “this is a huge risk if I lose my cell phone” .I understand that you can remotely wipe your phone or lock it, but why do I have to go through all of that trouble just for another way to pay? If I’m going for my lunch break I just grab my debit card and leave, I don’t take my entire wallet with me. So I don’t exactly know what the selling points of having a digital wallet are. More often than not we leave our cell phones by accident at home. It is rare to do that with your wallet since you have transit passes, driver’s license, health card, credit cards, debit cards, etc in there. That is essential cr@p that needs to be carried around.

    The best thing that could happen to my wallet is by reducing the size by throwing all the barcodes from point cards on there like Shoppers Optimum and Air Miles. What was genius. This is…well…meh.

  • d-h

    Excellent. I hope they make use of the built-in NFC chip of the Nexus S instead going the route of mini-SD cards, stickers, etc.