PayPal Canada

Canadian Mobile Payment Services Attempt to Circle Square

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Mobile credit card readers have started to proliferate in Canada with at least one sufficiently provocative spin — becoming available in the country before Twitter creator Jack Dorsey's well-funded startup Square.

Does being a few steps ahead of such a hype-driven competitor assure any kind of long-term adoption? Last week, GoPayment announced its plan to debut north of the border. But any news that Square has completed Canadian paperwork would quickly overshadow such momentum.

So far, promotion by GoPayment owner Intuit seems to coast on being ahead of the curve. This evidently requires making it clear that the pricing model — a 3.7 per cent cut when manually entering credit card information into the device and 2.7 per cent for a swipe — is not setting out to pinch small businesses.

Yet another newcomer, NetSecure, is squarely focused on the Canadian market. The founder, Dan McCann, conceded to the Financial Post that a face-off with Dorsey's firm is inevitable. But the winning solution will be the one that can assure actual security.