MasterCard fires up mobile payment trial in Canada

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Neutral

oshawapilot @ Aug 22nd 2008 11:03AM

The only thing "trial" about this here in Canada is having the RF chip on your cellphone instead of your credit card.

I have a PayPas Mastercard already but have never used it - we have the universal debit system called "Interac" here which is accepted at almost any retailer out there, and the payment comes directly out of my bank account instead of a credit card. Yes, you still need to swipe a card and input your PIN number, but it's a small hassle to know that it's a "debit" payment instead of a "credit" payment.

When the banks come up with RF payment directly from my bank account let me know, untill then this is just another method for the credit card companies to try to be me to rack up a balance. No thanks.

Neutral

Cactus @ Aug 22nd 2008 3:29PM

Yow... you know RFID payments are, by definition, PIN-less -- right? That's about the last thing I'd want linked directly to my bank account.

I had a mobile phone stolen about 5 years ago -- if it had such a chip on it, it would've been much worse than the nuisance it was. Reversing unauthorized charges on a credit card is easier, and doesn't leave you short of cash for weeks...

Neutral

Jamar @ Aug 22nd 2008 10:56PM

Not by definition- my Japanese phone has the option to prompt for PIN every time it's read from and the option to remotely lock it.

Neutral

oshawapilot @ Aug 23rd 2008 7:56AM

@cactus

Yes, I'm aware of that, and I'd be happy if the banks came out with a PINless RF payment system similar to PayPass, except actually out of my bank account. Yes, there would have to be limits to control fraud in case of loss, etc, but setting that up (perhaps $20 daily maximum, for example) is childsplay for the banks.

Untill that time, I'll continue to swipe my bank card and input my PIN. I won't use PayPass and run up my credit card balance simply for the "convenience factor" that the credit card companies like to push.

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