One great thing about the advent of digital wallets is that forgetting a credit card at home is no longer such a big problem.
Canadian Tire is taking this idea even further with the introduction of Digital Instant Issuance, which is the ability for customers to add their Canadian Tire Options Mastercard to their mobile wallet as soon as they are approved.
Normally when a customer signs up for a credit card, they have to wait for it to be mailed to their house to activate the payment option, a process that often takes at least a week. Now if a customer signs up at a Canadian Tire store, they will have the option to add the card immediately to their Apple Pay or Android Pay wallet, a first of its kind for Canada.
Contactless payment is on the rise in Canada, as Moneris recently found that the amount of “tapped away” dollars grew over 50 per cent during the last quarter alone.
As more contactless payment methods become widespread, the demand for instant credit card numbers and digital contactless options will grow. Canadian Tire is getting in early with this attempt to make their credit card more appealing to potential customers.