Canadian Consumers Plan Increased Mobile Payments
January 7, 2014 – Canadians anticipate increasing the frequency with which they use Smartphones and tablet computers for financial transactions in 2014 and beyond, according to Rogers Innovation Report: Tech Trends 2013.
Over half of Canadians own a smart phone (52%) and 33% own a tablet. During the past 12 months, 34% of those surveyed made a financial transaction, such as a payment using their Smartphone or tablet, and 41% anticipate that they will do so in 2014. 35% of mobile users have downloaded at least one shopping app, while 35% have downloaded at least 1 finance app.
49% of those using mobile payment apps expect to do so more often over the next 12 months, with 41% planning to use “on-demand” apps more frequently to order taxis or other services directly to their location. Report analysts state that this indicates a shift toward the mobile wallet.
During the next 5 years:
- 50% believe they will spend more money shopping online than in bricks and mortar stores
- 72% expect to earn “loyalty rewards” for making mobile purchases
- 61% anticipate having access to all the cards currently in their physical wallet through an integrated mobile wallet
- 55% expect mobile wallet apps to replace the need to carry a physical debit or credit card
On average, Smartphone users keep their device within an arm’s reach 70% of the time on an average day, with 4 out of 10 reporting that they keep their mobile device with them 90%-100% of the time. Early adopters of new technology products were most likely to be male (62%) between the ages of 30-44 (30%) and have a college degree or higher (58%).
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