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Canadians want mobile payment options


November 5, 2012
By Canadian Garden Centre & Nursery

Nov. 5, 2012, Toronto – More Canadians are interested in mobile payments that will allow them to make credit card purchases on their smartphones, a new CIBC poll reports.

As an increasing number of Canadians carry their smartphones with
them everyday, there is a strong interest in using them to pay for
everyday purchases on their credit cards. Using their smartphones,
Canadians will be able to securely access their credit card information
and wave their smartphones at the checkout counter to pay, much like
they currently do with their contactless cards.

“Canadians are
ready to start paying for everyday items using their mobile device, but
they want all of the benefits and rewards they’ve come to expect from
their credit card,” noted David Williamson, senior executive
vice-president and group head of retail and business banking at CIBC.

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The
poll found that 44 per cent of Canadians surveyed now own a smartphone.
That’s up from 33 per cent in a 2011 poll.  Younger Canadians between
the ages of 18 and 24 are most likely to own a smartphone (77 per cent),
but ownership numbers are also strong in other demographics, including
baby boomers between the ages of 45 and 54 (43 per cent).

Key findings from the survey include:

  • 47 per cent of Canadians with smartphones would consider using them to make mobile payments to their credit card, if they could.
  • 51
    per cent of Canadians between the ages of 25 and 34 said they would
    consider mobile payments; 48 per cent of 45-54 year olds said the same.
  • 36 per cent have used their smartphones for mobile banking – up from 25 per cent in 2011.

“Mobile
payments are set to take off in Canada,” said David Robinson,
vice-president of emerging business for Rogers Communications. In May,
CIBC and Rogers announced Canada’s first agreement between a bank and a
wireless carrier to offer a mobile payments solution to Canadians.
“Today we are seeing firsthand how the experience is convenient,
seamless and secure.”


Results are based on a CIBC poll conducted
by Harris/Decima, via teleVox, their telephone omnibus solution. The
sample includes 2,026 Canadians surveyed between July 12 and 22. A
sample of this size has a national margin of error of +/- 2.2 per cent,
19 times in 20.


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