NFC Times Exclusive Insight – By switching from NFC SIM-based to host card emulation mobile payments service at the end of November, one of Canada's top five banks, Scotiabank, is hoping to “build adoption” at a “higher magnitude” for its My Mobile Wallet service, a bank spokeswoman told NFC Times.
Scotiabank's My Mobile Wallet, which is part of the bank’s mobile-banking app, supports Visa and the local debit scheme Interac. To deliver on the promise of “supporting the full shopping journey,” the bank is working with American Express and Mastercard to allow customers to virtualize their preferred cards carrying these brands after the first of the year, the bank's spokeswoman confirmed to NFC Times.
Unlike Royal Bank of Canada, or RBC, Scotiabank is using tokenization from Visa and Interac to deploy My Mobile Wallet.