President’s Choice (PC) Financial has teamed up with Toronto-Dominion (TD) bank to announce the release of a new mobile wallet.
The product, called ‘Ugo’, will be the first open mobile wallet in Canada to combine different payment and loyalty programmes under a single solution.
Barry Columb, President of President’s Choice Financial, said: "President’s Choice Financial is always seeking to make banking simple and better for our customers, and Ugo is another example of good banking for PC Financial MasterCard customers."
As Canada’s largest retailer and PC’s parent company, grocery giant Loblaw has signed up as the wallet’s first retail partner, bringing PC Plus, its loyalty programme.
Commenting on the product’s benefits for customers, Columb added: "It will allow them to easily and conveniently use their President’s Choice Financial MasterCard, while also earning and redeeming their PC points in one single tap transaction at their favourite Loblaw or banner store locations."
According to the companies, Ugo allows customers to pay, gather and use loyalty points with a tap of their smartphones – a range of functions they claim make it capable of replacing traditional wallets altogether.
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Speaking on behalf of TD bank, Teri Currie, group head of direct channels, corporate shared services, marketing and people strategies, said: "We are very excited to be teaming up with PC Financial to develop Ugo, the first collaboration of its kind between two Canadian banks. We’re also thrilled to be able to offer one of Canada’s most popular retail loyalty programs by welcoming Loblaw as our first retail partner.
"Consumers carry their mobile phone everywhere they go; Ugo allows us to stay with them and is a natural extension of TD’s long history of delivering comfort and convenience to our customers."