As we’ve seen with the launch of the iPhone 6, mobile payments have finally come to the iOS platform. Apple Pay, which uses NFC (Near Field Communication) to complete payments, until now has been a feature enjoyed solely by Android users, a point of contention that has caused Apple loyalists a great deal of frustration.
Of course, Apple is not the first to tap into the growing mobile payments market. Apps like Hailo, Giftagram, and Starbucks have been pushing the envelope of mobile payments long before the Cupertino juggernaut made its intentions publicly known.
These apps, like the many others that connect people to goods and services without the added requirement of carrying one’s wallet, have one feature in common: Convenience. Smartphone adoption in Canada is growing. A recent study found that nearly 55% of Canadians own a smartphone. It should come as no surprise that retailers are seeing the opportunity to get their brand into the hands of consumers – and as far as I can tell, it’s working.
Tab, a Toronto-based startup founded in 2014, has entered the mobile payments space by solving one common problem among restaurant patrons: the inevitable waiting that comes with asking for the bill.