Fintech company, daVinci Payments, released a national study in partnership with the Canadian Prepaid Providers Organization, outlining how Canadians make and receive payments and the resulting effect on future shopping intentions.

The "Future of Payments Canada" study, conducted August 6-7, 2020, pinpoints how shelter-in-place has affected payment habits and the impact those changes will have on the 2020 holiday shopping season and beyond.

"The spike in online shopping and mobile payments driven by COVID-19 is occurring across all ages," David Josephs, CEO, daVinci Payments said in the release. "Traditional payment methods like credit, debit and prepaid cards are as popular as ever, but swiping physical cards themselves is giving way to new form factors like mobile wallets, apps and contactless payments," Josephs said.

The study's release coincides with daVinci Payments' launch of its Push Pay product in Canada, which enables individuals and businesses to move funds instantly into their bank account via a debit card.