Friday, May 10, 2013

New Release: Canadian Consumer Payment Preferences Market - US - April 2013 : Market Research Reports


Data sources
Consumer survey data
Abbreviations and terms
Companies mentioned in this report
The market
Figure 1: Canadian payments volume share, 2008 vs. 2011
Figure 2: Growth in volume of payments, by payment method, 2008-11
Market factors
Figure 3: Unemployment rate in Canada, January 2011-February 2013

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Mobile payments have been touted as ‘the next great thing’ for several years now, but even with the increased number of options available, adoption rates are still very low. However, as the various players in the industry begin to sort out the legal, technological and marketing issues, innovations are being announced and piloted nearly continually. The added encouragement of the increasing penetration of both smartphones and tablets mean that mobile payment opportunities for Canadian vendors and consumers are on their way.

Some questions answered in this report include:
  • Why aren’t consumers using mobile payments?
  • How can banks and payments brands encourage usage?

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