Mobile Money: Merchants "frosty" to mobile payments

OTTAWA - Ruth Thorkelson, senior vice-president of public affairs at the Retail Council of Canada (RCC), described merchants’ mood towards mobile payments as “neutral to frosty” because they don’t yet see the value. Plus, merchants aren’t likely to adopt mobile payments the way they have for debit and credit card transactions because of security concerns. “There is a reason why we are the second highest debit users in the world: it was a 100% rock solid guarantee by every player in that payment chain that your transaction was secure. There’s almost no risk for the consumer. That’s why we have...