As technology continues to evolve and become more secure, Canadians are edging closer to becoming a”paper-less” society. Canadian banks and telcos are working together to make this promise a reality, they are even saying that Canada is a leader in the mobile payment space. According to a survey conducted on behalf of PayPal Canada by Leger Marketing, the data shows that 71 per cent of Canadians are comfortable with never having to handle cash to make a purchase, up 27 per cent from 2011. In fact, many Canadians are already embracing this shift – a full quarter (25 per cent) of survey respondents go more than a week without using cash.
“The growth we’re seeing in Canadians’ eagerness to go cashless is significant,” said Darrell MacMullin, Managing Director, PayPal Canada. “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.”
The survey also points out that 56 per cent of Canadians are more likely to forgive and forget when someone owes them money for an everyday purchase, rather than follow-up about it. With four million Canadians already have PayPal accounts, they have definitely been stepping up their game, they recently unveiled a trial program with 15 national retailers where they launch an in-store payment system. This of course is meant to go head to head with credit card vendors. Unfortunately Canada is on the back burner as their beta program is only available on the Unites States for now.