Canadian Banks Partner to Launch Ugo — NFC Mobile Wallet
Canadian banks President’s Choice Financial and TD Bank Group are to launch Ugo, an open NFC mobile wallet, in 2014. Loblaw, Canada’s largest retailer, has joined as Ugo’s first retail partner, bringing its PC Plus loyalty program to the wallet.
Consumers will be able to load their TD Visa, President’s Choice Financial MasterCard and PC Plus loyalty cards on to an NFC SIM card in their BlackBerry or Android handset. Subscribers will then be able to pay for goods at Visa PayWave and MasterCard PayPass terminals globally using their NFC phone.
“We are very excited to be teaming up with PC Financial to develop Ugo, the first collaboration of its kind between two Canadian banks,” says TD Bank’s Teri Currie.
“It will allow them to easily and conveniently use their President’s Choice Financial MasterCard, while also earning and redeeming their PC points in one single tap transaction at their favorite Loblaw or banner store locations.” says Barry Columb, president of President’s Choice Financial.
Loblaw has over 1,000 stores in Canada. More major partners, debit and gift card capabilities, as well as loyalty programs will be added to Ugo in the future, Loblaw says.