TD Bank and PC Financial announce Ugo, ‘Canada’s First Open Mobile Wallet’


  • Nicholas Burke

    Bring the Windows Phone app and we’ll talk…

  • ChrisPollard77

    Too bad it’s tied to credit cards. I was almost ready to consider it. Doesn’t exactly make it OPEN.

    • framing god

      Credit cards are the best thing going for the consumer. Pay your bill on time in full every month and all is good.

      Then again if you have no self control they’re probably the worst thing for you.

    • framing god

      Do you have a debit card.

    • Dude

      Integrating a debit card into this system is something they want to rollout… just a lot of talk. With CC’s, API integration is somewhat simpler as your dealing with only two parent card companies. Where as a debit card will be issued differently and is likely not going to be easily supported with API’s anytime soon.

    • Super_Deluxe

      Then get a Visa Debit card. It allows you to use your debit card as a credit card as well except it uses the balance on your debit account instead of credit. Sounds like a better option for you since you prefer not to use a credit card which is perfectly fine.

    • ChrisPollard77

      That’s fine if your bank/credit union offers them as an option. Or you have an American bank account … where all their debit cards are Visa. (Or at least every one I’ve seen/had.)

    • John Peters

      I agree. Credit card is the best. At least Visa/MasterCard offer zero liability on fraudulent activity, plus you can earn points with most credit cards.

    • Guest

      What crappy bank do you use that doesn’t protect you from fraudulent charges to your debit card?
      Card skimming is not something new, I’ve had that coverage my whole life, and used it like 3 times myself…..

    • TomsDisqusted

      But you are paying more for every item because of the fee that is charged to the merchant. A truly open mobile wallet would let us make a simple, cash like payment to the merchant without any fees.

    • framing god

      Until merchants start discriminating on credit cards it’s not worth it to pay by cash. Cash costs them money to take to the bank as well.

    • TomsDisqusted

      They are legally prevented from that – in other words, the credit card companies have effectively forced the merchants to hide the cost.

      Yeah, cash can be a nuisance too, what we need is electronic cash. Many would say bitcoin is the answer.

    • framing god

      Somehow they forget that credit cards make people spend more money. That’s why they call them credit cards. They aren’t legally prevented from not taking cc’s at par. It’s just part of the agreement with the cc company. If they don’t like it they can take cash or debit, or start there own financing plan. I pay my cc’s in full every month so I don’t care.

    • Sweet

      “what we need is electronic cash. ”

      That’s what the Canadian Mint has been working on. Their product is called the MintChip.

    • Kspraydad

      They are prevented from charging extra for using C/C due to their merchant agreement. They are not prevented from offering discounts for using cash/debit. See CTC Money or any mom and pop computer shop that offers discounts for casht/debit payments.

    • didibus

      Dwolla will probably happen before the all mighty BitCoin takeover. Anyhow, I would buy a couple bitcoins just in case…

  • DonatelloNinjaTurtle

    Ciao Ugo!

  • Graison Swaan

    Will it work with TDs visa debit

  • Mayoo

    My response : Go to hell for ruining Google Wallet. This is the reason for fragmentation of features.

    • Chris

      Google has so much power and it’s such a versatile company. It covers such a wide range of products and services. Sucks that Canada is usually chopped liver. I almost wish there was Google Bank and it was available here. I’d rather them handle my money than TD and PC (both of which I have accounts with).

      We’re getting crapped on from everywhere. Robellus and our banks are giving us much less while taking from us much more. I wish Google could spread like a beneficial virus and sweep away our terrible banks and megacorps.

    • John Peters

      It would be a sad world if Google had even more control over anything, especially e-wallets. I trust the banks over Google any day of the week.

    • didibus

      Why? I don’T trust either, but banks have been known for screwing the world, and have been responsible for many recessions, not a very good history honestly.

  • DubbingHammer

    Paypass feature on my Mastercard is good enough for me. Industry needs to come up with more secure and unified NFC payment system for me to even consider using it with my phone.

    • Carmen Leung

      I rather have a physical card. If paypass on the machine decided to go kaplunk that day you still have a fall back option. What we need is a digital system of storing all the loyalty cards.

    • Sweet

      ” What we need is a digital system of storing all the loyalty cards.”

      That’s what Apple’s Passbook does. But it uses barcodes instead of NFC, and thus requires the merchant to have a barcode reader.

      Admittedly, the barcode method is much more secure for the user than NFC, since the phone doesn’t receive any signal from the merchant’s device.

    • Carmen Leung

      don’t all merchants have a handscanner? Or have the ability to manually punch in a code?

    • Sweet

      Possibly. Now that I think of it, they must have one of those options, unless they use a magnetic card reader.

    • Andrew_notPorC

      Laser barcode scanners can’t, generally, read barcodes from smartphone screens. Thus they need to optical sensors, which are not yet widely deployed.

    • Carmen Leung

      you can always punch it in.

    • John Peters

      Let me guess, your phone doesn’t have NFC?

    • Carmen Leung

      my phone has nfc, but paypass systems tend to be a little tempermental and sometimes decide not to work. And what if you go on a big shopping spree? Your bill would be over $100 or $50 threshold and thus you would not be able to use paypass. the chip and pin method is your fall back method in the event your paypass/paywave/interac flash decides not to work

  • Dude

    This sounds disastrously like what EnStream, a joint venture with Bell Rogers and Telus were trying to do 4 years ago. Canada is just no ready to adopt a digital wallet, adoption is below the threshold. Having a retailer on the side in this particular case will certainly help them, but by how much.

    • Dude

      To a point, i agree with your comment. However even Rogers, now a credited bank is still struggling with the emerging digital wallet market. People are just warming up to online banking apps, forget about using it as a payment method through a retailers 3rd part app.

    • Deciare

      The reason Rogers is struggling is because Canadians are not interested in a mobile payment system that ties them to a single carrier or a single bank. What if they wanted to switch to WIND or go with Scotiabank? Too bad?

      The first step toward adoption of a technology is lowering the barrier to entry. By specifying a unique combination of carrier + credit card + supported devices + partner retailers, the barrier to entry is very high.

      I’m ready to use Google Wallet for mobile payments any time it becomes officially available in Canada. Any bank, any credit card, any phone, any carrier. Bring it. Bring it now, and I’ll use it tomorrow.

    • Jay

      This may be the smartest comment I have read on MobileSyrup! People are lazy! If you want them to adopt a new technology, make it easy to access!!
      Anyone know if I can go down to the states, install Google Wallet and start using it on the paypass machines in Canada?

  • Samuel Gomez Recuero

    Make an app that can use any credit card and any debit card and then we are talking. But then of course we have to unified the process vendors are using with the myriad of paying machines on different stores.

    • Dude

      will never happen. we live in a walled garden and banks will never open their API’s without some unified payment engine in place. The best you can hope for is Interac Flash to be more widely supported.

    • John Peters

      Not the banks. It’s the carriers who are in control because the payment data is stored on the SIM card.

    • Sweet

      Do you mean transaction data ? If so, that would be a bad idea. Transaction data from mobile payments should be stored the same way as transaction data from debit and credit payments.

      My understanding is that it’s the IP addresses and certificates of the required servers that the carrier stores on the SIM card and it’s stored in such a way that only the carrier can edit it. That would certainly be much more secure than storing it in a file in the phone’s storage. It would also explain why carriers insist you use a specific SIM card.

  • Kenny G

    No more credit cards soon. Let’s hope I don’t loose my phone. :-/

  • Sweet

    Paying with cards isn’t the biggest problem, IMO, since a person like me usually only uses 2 cards to pay with: debit card, credit card. Besides, I prefer to stick it to The Man by paying cash.

    It’s the million and a half loyalty and membership cards that’s the problem. I have to either plan all my purchases before I leave my home and bring the relevant cards with me, or carry most of my cards with me all the time. Some retailers will give you credit/points if return to the store with your loyalty card and bill after you’ve made your purchase. But that’s a major hassle as well.

    So putting all those loyalty and membership cards on my phone would be the big convenience for me, not mobile payments.

    • Carmen Leung

      mhmm. My mom has like tons of loyalty cards and does not want another lol.

  • Sweet

    This is far from what consumers want, but it’s still much better than the other solutions we’ve seen rolled out, all of which worked with only one bank and required a particular carrier to issue you a special SIM card. At least this is carrier-agnostic.

  • Jehovah Witness


  • John Peters

    Only two for now. Jeeze, some people have zero patience.

  • John Peters

    Finally TD will be joining the NFC payment world. Let’s hope this is available on all carriers.

  • Yozer34

    I have a question: Am I able to use my (NFC-enabled) phone with Google Wallet here in Canada (with paypass)? I have a TD Visa Debit

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