Canadians have higher expectations on the future of m-payments in 2014 - report

Friday 3 January 2014 00:32 CET | News

Expectations are running high among Canadian consumers for the future of mobile payments, a recent study reveals.

According to a recent survey dubbed Rogers Innovation Report: Tech Trends 2013, published by Canadian telecoms company Rogers Communications, 52% of Canadians own a smartphone and 33% own a tablet.

The report also finds that these mobile device owners expect changes to the retail landscape, with 50% of respondents expecting to spend more money shopping online than in physical stores within the next five years.

The survey also points out that 68% of Canadian mobile device owners expect to make online purchases on PCs or mobile devices in 2014, compared to 65% who made online purchases in 2013.

According to the study, the biggest gains in 2014 are expected for mobile-based payments and location-based apps which offer personalized deals and customized electronic greetings. Thus, the survey reveals that 41% of respondents expect to make mobile purchases in 2014, compared to 34% who did so in 2013. Also, 28% of respondents expect to use location-based apps in 2014, compared to 18% in 2013.

Finally, the survey also points out that 72% of respondents have said they expect to earn and accumulate loyalty rewards by making purchases through their mobile device and 70% expect retailers to have location-based apps. 49% of those who use mobile payment apps have said they would use these devices more often in the next 12 months. Device owners believe mobile wallets will gain steam. 61% expect to have mobile wallets which allow them to access all the cards in their physical wallet and 55% expect mobile wallet apps to replace the need to carry physical payment cards.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Canada, mobile payments, Rogers Communications, smartphone, tablet, mobile-based payments, location-based apps, loyalty rewards
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce

Industry Events