Canadian telecommunications companies Manitoba Telecom Services (MTS) and SaskTel now offer their customers mobile payments through TD Bank.
TD is the first financial institution to offer mobile payments to MTS and SaskTel, according to a May 13 press release. They join Bell, Rogers and TELUS in allowing customers to pay using their mobile phones. The five mobile networks collectively reach 94% of Canada's wireless coverage, according to the release.
MTS and SaskTel are connected to TD through a Near Field Communication-based mobile payments vendor called EnStream. Its platform connects Canadian banks and mobile network operators, allowing consumers to use their credit, debit and prepaid cards to fund payments made through mobile phones.
"Once SaskTel and MTS were connected to our platform, it was relatively easy for an EnStream connected bank, like TD, to extend service to the customers of SaskTel and MTS," Almis Ledas, COO of EnStream, said in the release. EnStream said it plans to add more banks to its network soon.
CIBC, Desjardins, RBC, Scotiabank and TD& five of the largest financial institutions in Canada all support mobile payments in their own apps. They serve 85% of Canada's households with retail banking services.
