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Expectations are running high among Canadian consumers for the future of mobile payments, according to a consumer survey from Canadian telecoms company Rogers Communications.
According to the survey, "Rogers Innovation Report: Tech Trends 2013," 52 percent of Canadians own a smartphone, while 33 percent own a tablet. These mobile device owners expect changes to the retail landscape, with 50 percent of respondents expecting to spend more money shopping online than in physical stores within the next five years.
Sixty-eight percent of Canadian mobile device owners said they expect to make online purchases on PCs or mobile devices in 2014, compared to 65 percent who made online purchases in 2013, the survey found. However, the biggest gains in 2014 are expected for mobile-based payments and location-based apps that offer personalized deals and customized electronic greetings.
The survey found that 41 percent of respondents expect to make mobile purchases in 2014, compared to 34 percent who did so in 2013. Also, 28 percent of respondents expect to use location-based apps in 2014, compared to 18 percent in 2013.
Seventy-two percent of respondents said they expect to earn and accumulate loyalty rewards by making purchases through their mobile device, and 70 percent expect retailers to have location-based apps. Forty-nine percent of those who use mobile payment apps said they would use these devices more often in the next 12 months.
Device owners believe mobile wallets will gain steam, the survey found. Sixty-one percent expect to have mobile wallets that allow them to access all the cards in their physical wallet and 55 percent expect mobile wallet apps to replace the need to carry physical payment cards.
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