Yesterday, Canadian Olympic Triathelete Simon Whitfield purchased a cup of Tim Hortons coffee in downtown Toronto. It was not just any old cup of coffee: the purchase marked the first mobile credit card transaction made on Canadian soil. Whitfield made the purchase through his CIBC credit card account using his Rogers Blackberry.
This historic purchase promises to be the first of many. Canadian consumers will be able to use their Rogers smartphones to make payments from their CIBC MasterCard or CIBC Visa card at 2,300 Tim Hortons restaurants across the country by the end of the month.
The Chief Operating Officer of Tim Hortons, is enthusiastic about being able to offer its consumers the ability to pay through mobile transactions stating, “We are always looking to bring innovative options that offer our guests more convenience and faster ways to pay. We believe Canadians will increasingly embrace the opportunity to make mobile payments and we are excited to be at the forefront of this technology with this milestone transaction today.”
With a massive franchise and stiff competition, Tim Hortons’s decision to enable his stores to accept mobile payments will certainly be met by the competition trying to quickly get their stores mobile capable, sparking the beginning of the mobile payment revolution throughout Canada. By having a franchise with stores dotted all across Canada make the first move into the mobile payment market, consumers throughout the country will quickly be exposed to the technology.
Another 3,000 restaurants are anticipated to be mobile payment capable by December. Tim Hortons is kicking off what will, undoubtedly, become a rapidly growing industry in Canada, as it has in the United States. In the meantime, the company has provided itself with an undeniable competitive edge, providing consumers with the convenience of mobile payment technology, which has quickly become the preferred way to pay for purchases by many Americans.
Edited by Jamie Epstein