TELUS launching its Mobile Payment service February 4th, first banking partner is CIBC

Back in October, TELUS came out with a new NFC-enabled SIM card that would eventually be “used for mobile banking services.” With mobile banking and mobile payments being one of the big trends this year, namely with the suretap solution by Rogers and Bell’s payment partnership with RBC, we now bring you news of TELUS’s market entry.

According to an internal doc we received, TELUS’s “NFC Mobile Payments” option will go live on February 4th and its launch partner will be CIBC. The process of paying by your device is similar to what’s currently in market by Rogers as users will be able to purchase small ticket items — likely under $50 — with an NFC-enabled smartphone.

As expected, there are a few stipulations to making this work on a TELUS device. First, you’ll need a compatible secure NFC-enabled SIM with an active postpaid voice and data plan. Next, from the payment perspective, users will need to have a CIBC credit card and the CIBC mobile payment app. Once you do all this you can start carrying less cash and tap your device at any merchant that has a MasterCard PayPass or Visa PayWave point of sale.

The doc notes the eligible devices are the Samsung Galaxy SIII, Samsung Galaxy S4, Samsung Galaxy Note II and the HTC One. Finally, TELUS seems to understand the importance of opening up mobile payments to customers on other devices and who are with other banking institutions as the doc noted that “TELUS has plans to certify and launch additional devices with multiple banking partners in future phases.”

Look for this to go live on February 4th.

More soon!
(Thanks tipster!)