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The future of digital payments in Canada

Canadian consumers are seeking digital payments solutions that are:
Simple. Personal. Everyday.

Introduction

Digital technology is transforming the payments industry. Increasingly, customers are seeking quick and convenient ways to make purchases. How can you make the most of these opportunities?

Accenture surveyed over 4,000 consumers in North America (including 804 Canadian consumers) to track trends in consumer attitudes towards making payments today—and their expectations in 2020.

DOWNLOAD INFOGRAPHIC: THE FUTURE OF DIGITAL PAYMENTS IN CANADA [PDF, 186 KB]

DOWNLOAD TREND 3 INFOGRAPHIC: REWARDS CAN SPEED MOBILE PAYMENTS ADOPTION IN CANADA [PDF, 99 KB]

Overview

The customer experience is everything.
People are seeking digital payments solutions that are:


Keep It Simple

Although mobile payments awareness is on the rise, Canadians are lagging their U.S. counterparts when it comes to both awareness and adoption, with only 10 percent of Canadians using their mobile phones to make payments at least weekly, compared with 19 percent of their Americans.

When looking at which mobile payment ecosystems are gaining momentum, the survey found that 11 percent of respondents said they would use Apple Pay at least weekly, once available.

Make It Personal

Consumers’ interest in digital payment rewards that are truly tailored around them is an opportunity to incent mobile payments adoption and build customer loyalty.

79 percent of mobile payments users and 53 percent of non-users would adopt mobile payments if discount pricing and coupons were offered and 73 percent would increase usage if they received reward points. Canadians would also increase the amount they use their phones to make payments for public transit (74 percent) if they received points towards free trips. Additionally, more than half of those not currently making mobile payments in Canada would make them if offered discount pricing or coupons (53 percent), or reward points (53 percent).

Leaders are going beyond points and leveraging rich transaction data and third party partnerships to best understand their customers and to curate rewards to incent digital payments usage.

Making the Everyday Easy

This study highlights five trends that reveal the opportunities and challenges defining digital payments:

  1. The evolution in ways to pay continues—with no end in sight.

  2. Mobile payments awareness is higher than ever.

  3. Rewards can speed mobile payments adoption.

  4. Peer-to-peer payments are on the move.

  5. Connected commerce is worth watching.

DOWNLOAD INFOGRAPHIC: THE FUTURE OF DIGITAL PAYMENTS IN CANADA [PDF, 186 KB]

DOWNLOAD TREND 3 INFOGRAPHIC: REWARDS CAN SPEED MOBILE PAYMENTS ADOPTION IN CANADA [PDF, 99 KB]