Awareness of being able to use smartphones to pay for products and services at point of purchase has reached critical mass in Canada. Users of m-banking apps currently account for 36 percent (4 million users) of Canada’s overall smartphone user base, according to a report from consumer research and insight consultancy company SRG.
The study also shows that 56 percent of those users are aware of an upcoming service that would allow them to swipe their phones to pay for goods and services at check out. The study has also found that consumers with mobile banking applications are satisfied with the application they use most (67 percent, up from 63 percent in 2011), which shows their interest in knowing more about other ways their mobile devices can help improve their financial lives.
However, the study indicates that Canadian consumers manifest an underlying concern about security, wanting to know more about the service before they commit to trying it. Even so, mobile banking users would trust a variety of retailers and mobile brands who may offer new financial services via mobile devices.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.
We have been keeping professionals in the telecoms industry up-to-date since 2000. Telecompaper is a well respected, independent research and publishing company focussed on the telecommunications industry.
3995 AA Houten
Phone: +31 30 6349600
Fax: +31 30 6349699
© 2000 - 2016 Telecom.paper BV. All rights reserved.
Telecompaper is a trademark of Telecom.paper BV. No part of this site can be reproduced without
the expressed permission of Telecom.paper BV. Our General Terms and Conditions can be found here.
Terms and Conditions