Cloud-based Proximity Mobile Payments Cloud-based mobile payments store your payment information “in the cloud” (i.e. on a remote server), and not on your mobile device.  Consumers can typically register one or more payment accounts to be used with the mobile wallet including bank accounts, credit and debit cards, pre-paid cards,store cards,gift cards, and loyalty cards.
Most commonly, the consumer accesses their mobile wallet from an application on their mobile device, but cloud-based wallet scan also be accessed from other connected devices like computers or tablets.  During registration, the consumer can typically setup a username, password, or PIN to secure access to their wallet–credentials that are stored in the cloud as well.

Mobile Payments in Canada

Canadian consumers enjoy one of the safest and most mature payment environments in the world. Fact: more than three-quarters of transactions made in Canada are conducted using a card – either a Debit (Interac) or Credit Card – cash continues to be used for most low value transactions like buying coffee or purchasing transit fares. These types of cash transactions are ripe for replacement by mobile payments and offer the greatest value to consumers via the convenience factor.
“According to IDC, total public cloud spend in Canada is projected to grow by 45 percent in a year, to $2.5 billion by 2016.”