Back in February, we did an article saying that Rogers would be introducing their 'Suretap Wallet' soon and that day is today! Rogers has made their Suretap official and moving forward with "A quick and secure way to make payments." Paying for merchandise with your smartphone is just one more step in the evolutionary process transferring money from your bank to the merchant. For years our society paid for everything in either barter or cash - then we moved on to the option of using a credit card and then debit cards that required you to hand the merchant your physical plastic card - then we moved on to where you could just swipe your own card or even 'wave' it over a reader to pay for your merchandise - and now the next step is using your smartphone to transfer your credit or debit card information to the merchant's reader.
Rogers admits that the customer may be confused by all the methods of payments available to them, but the market is primed for this change. Jeppe Dorff, the Vice President of Transaction Services at Rogers said that over 80-percent of Canadian point-of-sale (POS) terminals have been converted to support the 'Tap-to-Pay' process. For security reasons, most participating banks limit the transaction amount to $50-$100, and for now the money must come directly from a Rogers' Prepaid Mastercard, but Rogers said that the ability to add other credit cards would be coming very soon. Certain gift cards already work with the system: Cara's many brands, including Swiss Chalet, Milestones, Montana's, Harvey's and Kelsey's, along with book retailer Indigo, Earls Restaurants, JOEY Restaurants, Ardene, and SpaFinder Wellness 365.
People are almost never without their smartphone so it makes sense to use your device for making payments as well as talking and texting...it will save you from carrying around multiple cards in your wallet...just pull up the card you want to use to make the payment on your smartphone and voila! All you need to make this happen is a Suretap ready device (NFC), which include: Samsung Note 2, Note 3, Galaxy S3, S4, and S5 or HTC One, LG G2, LG Optimus G, and BlackBerry Z10, with more coming soon. In that device you must put in a Suretap LTE SIM card, download the Suretap Wallet App, and add a payment card.
This will definitely be the wave of the future for making payments at merchants - although limited in scope at the startup, Rogers is working out the legalities for bank credit and debit cards to be used. The Rogers branded card is not totally free - It will cost you $2.00 to "top-up" money from a credit card to your Rogers branded card and this is limited to three occurrences per month with a maximum load of $200 each time. There is also fee of $2.50 per month whether you use the card or not. If you want to cancel your Rogers prepaid card there is a $10 fee, but they will refund all of your money still on the card. These are the standard fees that generally apply to all prepaid cards. Check out the video below for more imformation: