Mobile payment still not the default payment method in Canada - report

Wednesday 10 December 2014 10:34 CET | News

Only one in five Canadian shoppers recognise mobile payment advantages, recent findings indicate.

According to a new study by market research company GfK titled “FutureBuy 2014”, the resistance of many Canadians towards usage of mobile payment systems is rooted in security concerns, among other reasons.

Mobile payment activity in Canada versus global benchmarks shows that 21% of shoppers reported to have used mobile payments in the past 6 months, compared with 33% in the US, 39% Latin America or 46% APAC.

Regarding the in-store transactions via mobile, Canada is higher than the global average 25%, with a 36%, compared with 24% in the US, however lower than the 40% Poland, 41% Australia or 41% Japan.

The report stressed that relatively low frequencies suggest mobile payment still not the payment ‘norm’ in Canada.

With more than 55 percent of survey respondents worried about security when it comes to mobile payments, Canadians prefer to pay in other ways.

The study also explores mobile payments according to generation. Only 1 % of Baby Boomers used a mobile device to shop. This figure increased slightly with Generation X, Y, and Z, with mobile device usage sitting at 3, 3, and 4 %, respectively. When these shoppers make mobile payments, they use smartphones, and 36 % of those payments are made in-store.

However, looking ahead, 20 % of survey respondents say they plan to make more mobile payments in the next 12 months, and 21 % say they have the ability to make mobile payments important in more online shopping in the next year.

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Keywords: mobile payments, default payment method, Canada, report, mobile payments Canada, payments
Categories: Payments & Commerce
Countries: World
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