Regulating the electronic wallet

Associate Peter Aziz and articling student Eliot Che authored an article on emerging mobile-wallet technologies for The Lawyers Weekly. Below is the excerpt of the article.

The increase in the use of mobile payments shows just how far we’ve come from the Bills of Exchange Act. By the end of this year, around 1.4 billion smartphones will be in use worldwide. Canada is among those countries with the highest smartphone adoption rates in the world. Smartphones have reshaped the ways in which consumers communicate and consume media content, and are now poised to transform the ways in which consumers pay for goods and services and merchants accept payment.