Local Payments in Canada
According to a recent MasterCard report, only about 10 percent of purchases in Canada are made with cash, and that percentage is declining. About 90% of purchases are paid for with non-cash methods, which is a significant and rising percentage.
Local Cell Phone Payments
More and more Canadians are no longer carrying bills and coins, although cash transactions still account for more than 40% of total transactions.
Of course, non-cash payments aren’t limited to credit cards; more and more businesses and retailers are incorporating mobile payment methods, with mobile wallets making up a large portion of consumers.
According to another survey, most consumers are 78% aware of mobile wallets, about one-third 32% have used them at one time or another, and about 2.5 million Canadians use mobile payment apps every day. Here are some of the ways consumers use digital wallets, with the top five being PayPal, Google Wallet, Groupon, Apple Passbook, MasterCard, and more.
79% - PayPal
40% - Google Wallet
26% - Groupon
17% - Apple Passbook
5% - MasterCard PayPass
4% - Dwolla
4% - Venmo
4% - Isis
3% - Zip Pay
3% - Lemon Wallet
2% - Visa V.Me
2% - Bump Pay
1% - Geode
1% - Chirpify
Most digital wallets are used on cell phones, but consumer concerns about digital wallets currently center on mobile payment security.
Security continues to be the leading concern of those not using digital.Here’s what’s holding them back.
46%-Security of mobile payments
37%-Easier to pay with cash,credit or debit card
32%-Never really thought about it
18%-Don’t see the benefit
8%-Don’t have necessary feaures on phone
7%-Too time consuming to set up
Currently, the leading list of mobile purchases are: coffee, beverages, snacks, clothes, shoes, accessories, books, movie tickets, games, music, fast food, electronics, flowers and gifts, car beauty accessories, travel products, etc.
Leading the list of mobile purchases are less expensive items, like coffee and snacks, though the types of items being bought via mobile is somewhat Leading the list of mobile purchases are less expensive items, like coffee and snacks, though the types of items being bought via mobile is somewhat extensive.
35%-Coffee, drinks, snack food
32%-Clothes, shoes, jewelry
20%-Grocery
18%-Books
18%-Movie tichets
17%-Games, apps, music
14%-Fast food, pizza
13%-General retail
12%-Electronics
12%-Flowers, gifts
11%-Health, beauty services
10%-Automotive related servics
11%-Travel products
Payment by cell phone is a trend, let’s wait and see.
Local Payments in Canada PayPal
PayPal, an eBay company, is dedicated to making it safe, easy and convenient for individuals and businesses to make and receive payments online via email. PayPal accounts are the most secure web-based e-accounts available from PayPal and are designed to minimize the occurrence of fraud on the web. advanced management features integrated into your PayPal account make it easy for you to take control of every PayPal accounts are integrated with advanced management features that make it easy for you to keep track of every transaction. As of 2012, more than 90% of sellers and 85% of buyers in cross-border transactions recognize and are using PayPal.
PayPal Advantages
Wide range of global users, PayPal in 190 countries and regions around the world; real-time transactions, instant settlement; support for more than 20 currencies such as U.S. dollars, euros, pounds and other payments; high security, low cost of use.
Disadvantages of PayPal
Easily blocked accounts, chargeback risk; high withdrawal fees.
Credit Card Payment
There are nearly 1.5 billion international credit card holders in the world. Europe and the United States basically manpower a credit card, while Europe and the United States is also more like to use credit card shopping, which is also in line with the European and American consumer habits. For the first time for online shopping consumers, the general situation will choose their own existing payment methods to pay, so that a lot of help merchants to develop new customers, to the merchant to bring greater benefits.
Advantages:
Wide coverage, the use of the crowd, especially in Europe and the United States, the use rate is very high; in line with the consumption habits of foreign users, to protect the interests of buyers.
Disadvantages:
The need for account opening fees and annual service fees, there is a risk of refusal to pay, can not protect the interests of sellers.