Google Wallet, Visa Wallet, PayPal and ZoomPass are some of the mobile payment systems you’ve probably heard of. In Canada it’s Zoompass that’s the most common and also backed by Rogers, TELUS and Bell. In Montreal there’s a new player in town called “MoneyCell”. The École de technologie supérieure (ETS) is currently on a 6-month trial in 8 campus shops and operates with an NFC (Near Field Communication) chip on the back of the phone (iPhone, BlackBerry, or Android). Users put money into their MoneyCell account from their bank account and simply scan their device to pay for things (a PIN is required for purchases over $15). The MoneyCell adoption rate is at 7% now and they have plans to expand the trial this fall to local universities and colleges.
Taking a look at the video shows MoneyCell could eventually be the standard choice of payment to ride the bus, transfer funds between accounts, access secured buildings, receive e-coupons, pay for taxis, pay for parking and pay for concerts.