daVinci Payments study reveals online and mobile payments domination in Canada

Wednesday 30 September 2020 15:17 CET | News

 A daVinci Payments study has revealed that online and mobile payments dominate now and will continue to increase during holidays.

daVinci Payments released the new national study in partnership with the Canadian Prepaid Providers Organization (CPPO) that identifies how Canadians make and receive payments and the resulting effect on future shopping intentions.

The “Future of Payments Canada” study, conducted August 6-7, 2020, pinpoints how shelter-in-place has affected payment habits and the impact those changes will have on the 2020 holiday shopping season and beyond. 

The following illustrate how Canadians’ payment habits have changed in the current consumer landscape, and how they will continue into the future.

  • 96% have connected devices;
  • 88% of respondents who identify as Gen Z or Millennials use payment apps, while 51% of respondents who are 56 and older use payments apps;
  • 52% expect to do most of their holiday shopping online;
  • 49% of total holiday shopping is expected to be online;
  • 45% of all shopping is currently online;
  • 40% of respondents make half of their online purchases via their mobile device.

The study's release coincides with daVinci Payments' launch of Push Pay in Canada, which enables individuals and businesses to move funds instantly into their bank account via a debit card.

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Keywords: daVinci Payments, report, study, mobile payments, online payments, holiday shopping
Categories: Payments & Commerce
Countries: Canada
This article is part of category

Payments & Commerce