Wilfrid Laurier in your smartphone: Canadians are comfortable with a cashless future [Infographic]
Sir John A. Macdonald, Sir Wilfrid Laurier, and Queen Elizabeth II are getting a lot less face time these days, and that's not going to change any time soon—new research reveals that more than half of Canadians are comfortable with the idea of never handling cash to make a purchase, and would in fact prefer to use a digital wallet wherever possible.
Data from research conducted by Leger Marketing for PayPal Canada reveals that one in three Canadians would carry a mobile device as their wallet than carry around change, and about the same amount would be willing to make payments with their phone for cheap or expensive goods. Many Canadians—about 40 percent—would also like to use their smartphone to send money to others instead of having to visit a bank machine.
“A Canadian uses PayPal as their digital wallet once every second because they want greater flexibility, security and convenience in how they pay and get paid,” said Darrell MacMullin, managing director, PayPal Canada. “From avoiding the search for ATMs, to finding easier ways to split restaurant bills with friends or making payments anytime, anywhere and from virtually any device, Canadians want easier, faster and safer ways to shop, share expenses, send money or get paid back.”
PayPal expects the number of mobile transactions to increase significantly with greater smartphone usage by Canadians. According to a Canadian Wireless Telecommunications Association report in May 2011, 33 per cent of Canada’s 25 million mobile users have smartphones. Another driver of mobile transactions in Canada will be increased consumer trust in the security of their financial data when they use a smartphone or computer to pay or get paid.
Do you still carry around change?
