One of the main reasons that Canadians haven’t quickly adopted paying for item via their mobile device is security. Most of us feel that we’ll be ripped off by some fraudster who’ll take our savings. However, the latest survey by PayPal Canada and Leger Marketing reveals that Canadians are ready to go “cashless.” The survey was completed between May 28th and May 31st of 1,500 Canadians aged 18 and over via the web. According to their findings 71% of Canadians are comfortable with “never having to handle cash to make a purchase”, an increase of 27% from 2011. What’s missing from the survey results is how many of those that are “comfortable” actually make transactions via their mobile device. There’s a big distinction between comfortable and being a user. Another interesting stat was that 25% of survey respondents go more than a week without using cash… they probably use their debit or credit card.
The survey is good timing as more people are interested in the “digital wallet.” Recently Rogers and CIBC announced a partnership that will see them bring a cashless society to Canadians. One of the reasons that PayPal conducted the survey was to inform Canadians of their mobile app – which is available on the iPhone, BlackBerry and Android smartphones – and how easy it is to “help manage their money on the go.”
Darrell MacMullin, managing director, PayPal Canada stated “The growth we’re seeing in Canadians’ eagerness to go cashless is significant. In Canada, 2012 marks the year that we’ve moved well beyond the tipping point towards embracing a digital future. Canadians understand that a digital wallet can be a safer and smarter way to pay and get paid.”