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Payments Pulse Survey: Consumer Edition (2018)

The second annual Payments Pulse Survey: Consumer Edition delves into the payment preferences and priorities for Canadian consumers. This year, the survey was conducted in two phases. Phase 1 served as a pulse check on trends spotted in the 2017 survey and helped inform dialogue and discussion at the Payments Canada SUMMIT – Canada’s largest payment conference, held May 9-11, 2018 in Toronto. The follow-up Phase 2 survey dove deeper into specific consumer needs and issues that emerged as hot topics at The SUMMIT, including ‘invisible payments’ and social media payments.

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PAYMENTS PULSE SURVEY
CONSUMER EDITION
July 23, 2018
FOREWORD
The second annual Payments Pulse Survey: Consumer Edition delves into the payment preferences and
priorities for Canadian consumers. This year, the survey was conducted in two phases. Phase 1 served as a
pulse check on trends spotted in the 2017 survey and helped inform dialogue and discussion at the Payments
Canada SUMMIT – Canada’s largest payment conference, held May 9-11, 2018 in Toronto. The follow-up
Phase 2 survey dove deeper into specific consumer needs and issues that emerged as hot topics at The
SUMMIT, including ‘invisible payments’ and social media payments.
What we heard in Phase 1 is that 62 per cent of Canadian consumers are ready and open to change. They
want more choice when it comes to payment options such as e-transfers, e-wallets and digital currencies. In
Phase 2, we found out that 43 per cent of Canadian consumers are interested in payments becoming more
invisible. They also seem interested in social networking apps, such as Alipay and WeChat, as payment options
in Canada. Convenience at checkout is important to Canadians; the study found that 53 per cent of those
surveyed have left a store or abandoned an online purchase at some point, due to inconvenience at checkout.
The Phase 2 survey also found that the majority of consumers are willing to integrate new technologies, like an
e-wallet, into their everyday lives, but change has been modest since last year. Of the 19 per cent of Canadians
who’ve uploaded an e-wallet, 70 per cent have used this payment type since its launch in Canada.
The introduction of new systems, rules and standards as part of Payments Canada’s Modernization program
will foster a faster, safer and more data-rich payments environment. The enhancements will come from new
real-time payments, giving consumers more choice in how they make their payments, and the adoption of the
ISO 20022 data standard, which will improve automation and efficiency by increasing the data that travels with
a payment.
KEY FINDINGS
43% of Canadians are interested in
payments becoming more invisible
70%
of Canadians who have downloaded
an e-wallet have used this payment
type since its launch in Canada
Four-in-ten are interested in alias or token ID, allowing others
to pay/send money across a variety of platforms:
Agree
38%
Disagree
48% find e-wallet convenient
Canadians value a convenient, hassle-free check-out process during purchases:
53% 10%
of Canadians have left a store or
abandoned an online purchase due to
inconvenience at checkout
of Canadians have done this on
several occasions
One third of Canadians are interested in social networking apps,
like Alipay and WeChat, as payment options in Canada:
Yes
33%
No
66%
One third of Canadians have deposited a cheque using camera
or mobile app:
Yes
33%
No
66%
find this to be convenient
96%
TOP 3 forms of payments remain as:
credit card, debit and cash
55% of Canadians are willing to give
up cash and coins
Phase1Phase2
Alias or token ID | unique identifier
to limit info revealed
18-34, males, urbanites and those
with children <18 most likely
METHODOLOGY
QUANTITATIVE RESEARCH
INSTRUMENT
The Phase 1 survey including 1,501 Canadians was
completed online between April 2, 2018 to April 11,
2018 using Leger’s online panel, LegerWeb.
The Phase 2 survey (a unique new sample from
Phase 1) including 1,539 Canadians was completed
online between June 8 to June 11, 2018 also using
Leger’s online panel, LegerWeb.
A probability sample of the same size would yield a
margin of error of +/-2.5%, 19 times out of 20. ABOUT LEGER’S ONLINE
PANEL
Leger’s online panel has approximately 400,000
members nationally and has a retention rate of 90%.
QUALITY CONTROL
Stringent quality assurance measures allow Leger
to achieve the high-quality standards set by the
company. As a result, its methods of data
collection and storage outperform the norms set by
WAPOR (The World Association for Public Opinion
Research). These measures are applied at every
stage of the project: from data collection to
processing, through to analysis. We aim to answer
our clients’ needs with honesty, total confidentiality,
and integrity.
PHASE 1
RESPONDENT
PROFILE
PHASE 1: RESPONDENT PROFILE
27%
16%
18%
17%
21%
18-34
35-44
45-54
55-64
65+
AGEGENDER
WOMEN
51%
MEN
49%
REGION
QUE 23%
ON 38%
AB 11%
BC 14%
SK / MB 07%
ATL 07%
Base: All (n=1501)

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Payments Pulse Survey: Consumer Edition (2018)

  • 1. PAYMENTS PULSE SURVEY CONSUMER EDITION July 23, 2018
  • 2. FOREWORD The second annual Payments Pulse Survey: Consumer Edition delves into the payment preferences and priorities for Canadian consumers. This year, the survey was conducted in two phases. Phase 1 served as a pulse check on trends spotted in the 2017 survey and helped inform dialogue and discussion at the Payments Canada SUMMIT – Canada’s largest payment conference, held May 9-11, 2018 in Toronto. The follow-up Phase 2 survey dove deeper into specific consumer needs and issues that emerged as hot topics at The SUMMIT, including ‘invisible payments’ and social media payments. What we heard in Phase 1 is that 62 per cent of Canadian consumers are ready and open to change. They want more choice when it comes to payment options such as e-transfers, e-wallets and digital currencies. In Phase 2, we found out that 43 per cent of Canadian consumers are interested in payments becoming more invisible. They also seem interested in social networking apps, such as Alipay and WeChat, as payment options in Canada. Convenience at checkout is important to Canadians; the study found that 53 per cent of those surveyed have left a store or abandoned an online purchase at some point, due to inconvenience at checkout. The Phase 2 survey also found that the majority of consumers are willing to integrate new technologies, like an e-wallet, into their everyday lives, but change has been modest since last year. Of the 19 per cent of Canadians who’ve uploaded an e-wallet, 70 per cent have used this payment type since its launch in Canada. The introduction of new systems, rules and standards as part of Payments Canada’s Modernization program will foster a faster, safer and more data-rich payments environment. The enhancements will come from new real-time payments, giving consumers more choice in how they make their payments, and the adoption of the ISO 20022 data standard, which will improve automation and efficiency by increasing the data that travels with a payment.
  • 3. KEY FINDINGS 43% of Canadians are interested in payments becoming more invisible 70% of Canadians who have downloaded an e-wallet have used this payment type since its launch in Canada Four-in-ten are interested in alias or token ID, allowing others to pay/send money across a variety of platforms: Agree 38% Disagree 48% find e-wallet convenient Canadians value a convenient, hassle-free check-out process during purchases: 53% 10% of Canadians have left a store or abandoned an online purchase due to inconvenience at checkout of Canadians have done this on several occasions One third of Canadians are interested in social networking apps, like Alipay and WeChat, as payment options in Canada: Yes 33% No 66% One third of Canadians have deposited a cheque using camera or mobile app: Yes 33% No 66% find this to be convenient 96% TOP 3 forms of payments remain as: credit card, debit and cash 55% of Canadians are willing to give up cash and coins Phase1Phase2 Alias or token ID | unique identifier to limit info revealed 18-34, males, urbanites and those with children <18 most likely
  • 4. METHODOLOGY QUANTITATIVE RESEARCH INSTRUMENT The Phase 1 survey including 1,501 Canadians was completed online between April 2, 2018 to April 11, 2018 using Leger’s online panel, LegerWeb. The Phase 2 survey (a unique new sample from Phase 1) including 1,539 Canadians was completed online between June 8 to June 11, 2018 also using Leger’s online panel, LegerWeb. A probability sample of the same size would yield a margin of error of +/-2.5%, 19 times out of 20. ABOUT LEGER’S ONLINE PANEL Leger’s online panel has approximately 400,000 members nationally and has a retention rate of 90%. QUALITY CONTROL Stringent quality assurance measures allow Leger to achieve the high-quality standards set by the company. As a result, its methods of data collection and storage outperform the norms set by WAPOR (The World Association for Public Opinion Research). These measures are applied at every stage of the project: from data collection to processing, through to analysis. We aim to answer our clients’ needs with honesty, total confidentiality, and integrity.
  • 6. PHASE 1: RESPONDENT PROFILE 27% 16% 18% 17% 21% 18-34 35-44 45-54 55-64 65+ AGEGENDER WOMEN 51% MEN 49% REGION QUE 23% ON 38% AB 11% BC 14% SK / MB 07% ATL 07% Base: All (n=1501)
  • 7. PHASE 1: RESPONDENT PROFILE MARITAL STATUS HH INCOME EDUCATION 26% 60% 13% 1% SINGLE MARRIED / CL WIDOWED / DIVORCED / SEPARATED REFUSAL YES 29% NO 69% CHILDREN < 18 33% 29% 37% UNIVERSITY SOME COLLEGE / COLLEGE HIGH SCHOOL OR LESS REFUSAL 23% 30% 34% 14% < $40K $40K - < $80K $80K+ REFUSAL Base: All (n=1501)
  • 9. SIX-IN-TEN ARE OPEN TO CHANGE IN THEIR DAILY ROUTINE When it comes to openness to change, six-in-ten (62%) Canadians like change when it comes to their daily routine. Those who are more open to move away from cash transactions (vs not will to move away), and those willing to move away from using cheques (vs not willing to move away), are significantly more likely to like change in their daily routine (68% vs 57% and 69% vs 58% respectively). 62% 10% 51% 37% 32% 5% 2% LIKE CHANGE I strongly like change I somewhat like change DO NOT LIKE CHANGE I somewhat dislike change I strongly dislike change DK / Prefer not to answer 0001 Which of the following best describes your openness to change when it comes to your daily routine? Base: All (2018: n=1501) (n=2017: n=1507). 2017 60% 11% 50% 38% 34% 4% 2%
  • 10. CREDIT CARD, DEBIT AND CASH ARE THE PREFERRED METHODS TO PAY FOR GOOD AND SERVICES Canadians prefer to use credit card, debit and cash as their main methods of payment. When it comes to what they would like available to them, the same three payment methods come out on top. Beyond the top two methods of payment, the percentage of Canadians who would like those methods available to them is higher than the percentage currently are using as their preferred payment methods. 69% 60% 55% 28% 25% 24% 24% 15% 6% 5% 3% 1% 1% <1% <1% <1% Credit Card Debit Cash E-Transfers Contactless/Tap Automated funds transfer / direct deposit PayPal Cheque E-Wallet Retail Apps Check-out free transactions Digital currency QR Code Other None of the above DK / Prefer not to answer 0002 What are your preferred payment methods for goods and services? 0004 What payment methods would you like to have available to you? Base: All (2018: n=1501) WOULD LIKE TO HAVE AVAILABLEPREFERRED PAYMENT METHODS 65% 58% 59% 38% 34% 32% 31% 27% 14% 10% 10% 4% 3% <1% 3% 5%
  • 11. AUTODEPOSIT, RECURRING PAYMENTS AND REQUESTING MONEY ARE TOP SERVICES USED WITH AN E-TRANSFER Among Canadians currently using e-transfers as one of their methods of payments, autodeposit (43%), recurring payments (42%) and money requests (38%) are the services most commonly used. Quebecers (vs rest of the Canadians) are significantly more likely to use the Autodeposit (62% vs 38% ROC) and recurring payments (66% vs 34% ROC) with e-transfer. 43% 41% 38% 12% 7% 7% 4% 2% 1% 1% 5% Autodeposit Recurring Payments Request Money International E-Transfers Money transfer to people E-Transfer Bulk Disbursement Paying bills E-Transfer with security question One off general E-Transfer Other DK / Prefer not to answer 0003 What services have you used with E-Transfers? Base: Those who use e transfers (2018: n=432) 28% USE E-TRANSFERS SERVICES USED WITH E-TRANSFERS
  • 12. MAJORITY SAY THEY WOULD BE CONFIDENT THEIR SERVICE PROVIDER ENSURES PRIVACY OF CREDIT CARD INFORMATION Four-in-ten (38%) Canadians store personal credit card information with a mobile app or online ecommerce site, and the vast majority (86%) feel confident that the app or service provider they are using ensures the security and privacy of their personal credit card information. Residents of BC, males, university educated Canadians, higher earning Canadians, as well as younger Canadians (age 18-44) are significantly more likely to store personal credit card information with a mobile app or online ecommerce site. STORE PERSONAL CREDIT CARD INFORMATION WITH MOBILE APP/ONLINE ECOMMERCE 0005 Do you store personal credit card information with a mobile app or online ecommerce site (e.g., Uber or Amazon.ca)? Base: All (2018: n=1501) (n=2017: n=1507). 0006 To what extent do you feel confident that the app or service provider you used will ensure the security and privacy of your personal credit card information? Base: yes store credit card info with mobile app or ecommerce site (2018: n=587) (n=2017: n=666). Yes 38%No 58% 86% 27% 59% 14% 13% 1% 1% CONFIDENT Very confident Somewhat confident NOT CONFIDENT Not very confident Not at all confident DK / Prefer not to answer CONFIDENT CREDIT CARD INFORMATION STORED IS SECURED IN APP /SERVICE PROVIDER 2017 90% 30% 60% 10% 9% 1% 1% 2017: 41% 2017: 56%
  • 13. MAJORITY USE THEIR CREDIT CARD FOR MONTHLY PAYMENTS TO COLLECT REWARDS Two-thirds (67%) of Canadians use their credit card for monthly payments, with three-in-four (74%) saying they use their credit to collect rewards. Convenience (59%) and building credit (24%) are also top motivations to use a credit card for monthly payments. BC residents (76%), men, higher educated Canadians, and higher earning Canadians are significantly more likely to use their credit card for monthly payments. Younger Canadians (18-44) are significantly more likely to use their credit card for monthly payments to build credit, while older Canadians are more likely to use their credit card to earn rewards (age 35 and older) and for convenience (age 65 and older). USE CREDIT CARD FOR MONTHLY PAYMENTS Yes 67% No 31% MOTIVATION TO USE CREDIT CARD FOR MONTHLY PAYMENTS 74% 59% 24% 10% <1% Rewards Convenience Build credit My only option at the time DK / Prefer not to answer 0007 Do you use a credit card for any of your monthly payments (i.e. bills, groceries, goods and services etc.)? Base: All (2018: n=1501) 0008 What is your motivation for using your credit card to pay for your monthly payments (i.e. bills, groceries, goods and services etc.)? Base: use credit card for monthly payments (2018: n=1050)
  • 14. ONE-IN-FIVE USE THEIR CREDIT CARD FOR NEARLY ALL OF THEIR MONTHLY PURCHASES Three-quarters (76%) of Canadians use their credit card for at least some (at least 1%) of their monthly payments, while one-in-five (20%) Canadians are using their credit card for more than 90% of their monthly payments. Quebecers are more likely than the rest of Canadians to use their credit card for more than 90% of their monthly purchases. 9% 6% 8% 6% 5% 4% 7% 3% 8% 9% 15% 5% 9% 6% 0% 1-9% 10-19% 20-29% 30-39% 40-49% 50-59% 60-69% 70-79% 80-89% 90-99% 100% I do not have a credit card DK / Prefer not to answer 76% PAY AT LEAST 1% OF THEIR MONTHLY PAYMENTS WITH THEIR CREDIT CARD 20% PAY AT LEAST 90% OF THEIR MONTHLY PAYMENTS WITH THEIR CREDIT CARD 0009 What percentage of your monthly payments (i.e. bills, groceries, goods and services etc.) is paid with your credit card? Base: use credit card for monthly payments (2018: n=1050) % OF MONTHLY PAYMENTS PAID WITH CREDIT CARD
  • 15. CANADIANS ARE SLIGHTLY MORE LIKELY TO HAVE UPLOADED AN E-WALLET COMPARED TO ONE YEAR AGO Sixteen percent of Canadians have uploaded an e-wallet, since it launched in Canada (up 3 percentage points from 2017). Among those who have uploaded the e-wallet, eight-in-ten (82%) find it convenient. Younger Canadians (age 18-34), males, and higher earning Canadians ($100K or more) are significantly more likely to have uploaded an e-wallet. UPLOADED AN E-WALLET SINCE IT LAUNCHED IN CANADA Yes 16% No 82% HOW CONVENIENT IS THE EXPERIENCE WITH E-WALLET 2017: 13% 2017: 86% 82% 44% 38% 10% 9% 2% 8% CONVENIENT Very convenient Somewhat Convenient NOT CONVENIENT Not very convenient Not at all convenient DK / Prefer not to answer 83% 44% 38% 12% 10% 2% 6% 0010 Have you uploaded an e-wallet (Apple Pay, Google Wallet, etc.) app since it launched in Canada? Base: All (2018: n=1501) (n=2017: n=1507). 0011 Based on your experience with your e-wallet (Apple Pay, Google Wallet, etc.), how convenient do you find it: Base: uploaded e wallet (2018: n=238) (n=2017: n=220).
  • 16. NEARLY ALL CANADIANS WHO HAVE DEPOSITED A CHEQUE WITH THEIR MOBILE DEVICES FIND IT CONVENIENT 0013 Have you deposited a cheque using your smartphone’s camera and mobile banking app? Base: All (2018: n=1501) (n=2017: n=1507). 0014 Based on your experience depositing a cheque using your smartphone’s camera and mobile banking app, how convenient do you find the process: Base: uploaded e wallet (2018: n=500) (n=2017: n=443). DEPOSITED A CHEQUE USING SMARTPHONE’S CAMERA AND MOBILE BANKING APP Yes 33%No 67% 2017: 27% 2017: 72% 96% 77% 19% 3% 1% 2% 1% CONVENIENT Very convenient Somewhat Convenient NOT CONVENIENT Not very convenient Not at all convenient DK / Prefer not to answer 2017 97% 79% 18% 2% 2% <1% 1% HOW CONVENIENCE IS THE PROCESS TO DEPOSIT A CHEQUE WITH SMARTPHONE’S CAMERA AND BANKING APP One-third of Canadians have deposited a cheque using their smartphone’s camera and mobile banking app, a 5 percentage point increase from one year ago. Nearly all (96%) of those who have deposited a cheque using their smartphones camera and mobile banking app, find the process convenient, with 77% saying very convenient. Younger Canadians (age 18-54), and higher earning Canadians ($100K or more) are significantly more likely to have deposited a cheque using their smartphone’s camera and mobile banking app.
  • 17. HALF OF CASH USERS ARE WILLING TO MOVE AWAY FROM CASH TO ELECTRONIC PAYMENTS THROUGH MOBILE DEVICE 0015 A. Approximately how much cash do you use in a typical month? Number of cash transactions. Base: All (2018: n=1501) (n=2017: n=1507). 0015 B. Approximately how much cash do you use in a typical month? Value of cash transactions. Base: All (2018: n=1501) (n=2017: n=1507). 0016 How willing are you to move completely away from using cash and coins to highly convenient electronic payments accessible through your mobile device? Base: More than 1 cash transaction per month (2018: n=1252) (n=2017: n=1251). Average number of cash transactions per month: 19 transactions (2017: 22 transactions) Average value of cash transactions per month: $206 (2017: $220) WILLINGNESS TO MOVE COMPLETELY AWAY FROM USING CASH AND COINS TO HIGHLY CONVENIENT ELECTRONIC PAYMENTS ACCESSIBLE THROUGH YOUR MOBILE DEVICE: 55% 18% 37% 44% 27% 17% 2% WILLING Very willing Somewhat willing NOT WILLING Not very willing Not at all willing DK / Prefer not to answer On average Canadians use cash roughly 20 times a month, totaling slightly more than $200 per month. Lower earning Canadians (<$60K/year) are using cash for more transactions. Canadians who do make cash transactions, are split on whether they would move away from cash to use a more convenient electronic payment method, with 55% saying they would be willing to do this (a 5 percentage point increase from one year ago) and 44% saying they are not willing. Younger Canadians (age 18-44) and higher earning Canadians ($100K+) are significantly more likely to say they are willing to turn to more convenient electronic payment methods on their mobile device and move away from using cash.
  • 18. TWO-THIRDS ARE WILLING TO MOVE AWAY FROM WRITING CHEQUES FOR HIGHLY CONVENIENT ELECTRONIC PAYMENTS 0017 A. Approximately how many cheques do you write in typical month? Number of cheques Base: All (2018: n=1501) (n=2017: n=1507). 0017 B. Approximately how many cheques do you write in typical month? Value of cheque transactions Base: All (2018: n=1501) (n=2017: n=1507). 0019 How willing are you to move completely away from using cheques for highly convenient electronic payments accessible through the internet or your mobile device? Base: More than 1 cheque written per month (2018: n=742) (n=2017: n=732). Average number of cheques written per month: 3 cheques (2017: 3 cheques) Average value of cheques written per month: $243 (2017: $245) 66% 28% 38% 32% 17% 15% 2% WILLING Very willing Somewhat willing NOT WILLING Not very willing Not at all willing DK / Prefer not to answer 2017 66% 26% 40% 32% 18% 14% 2% WILLINGNESS TO MOVE COMPLETELY AWAY FROM USING CHEQUES FOR HIGHLY CONVENIENT ELECTRONIC PAYMENTS ACCESSIBLE THROUGH THE INTERNET OR YOUR MOBILE DEVICE On average, Canadians write 3 cheques a month, totaling slightly less than $250 per month, however forty percent are writing zero cheques a month. Among those writing at least one cheque a month, two-thirds (66%) are willing to move away from writing cheques for a more convenient payment method through the internet or mobile phone. Younger Canadians (age 18-54) are significantly more likely to say they are willing to move to more convenient electronic payment method on the internet or mobile device and move away from using cheques.
  • 19. HOME SERVICES AND RENT ARE THE MOST COMMON REASONS TO WRITE A CHEQUE 0017 A. Approximately how many cheques do you write in typical month? Number of cheques Base: All (2018: n=1501) (n=2017: n=1507). 0017 B. Approximately how many cheques do you write in typical month? Value of cheque transactions Base: All (2018: n=1501) (n=2017: n=1507). 0018 What types of transactions have you paid with a cheque? Base: More than 1 cheque written per month (2018: n=742) Average number of cheques written per month: 3 cheques (2017: 3 cheques) Average value of cheques written per month: $243 (2017: $245) TYPES OF CHEQUE TRANSACTIONS: 31% 28% 20% 7% 6% 6% 5% 5% 3% 3% 3% 3% 6% Other home services (i.e. gardeners, renovations, etc.) Rent School activity payments Charitable donation Gym membership Household bills (hydro, oil, gas, cellphone, etc.) Babysitter Miscellaneous house/personal items (clothes, magazines, art, trips, etc.) Church collection/donation Taxes (various) Gift Other DK / Prefer not to answer Among those writing cheques, Canadians are writing cheques for various home services, rent, and school activity payments. Quebecers are significantly more likely to write cheques for rent, while the rest of Canadians are significantly more likely to write cheques for home services and charitable donations.
  • 21. 27% 16% 18% 17% 21% 18-34 35-44 45-54 55-64 65+ AGEGENDER WOMEN 51% MEN 49% REGION QUE 23% ON 38% AB 11% BC 14% SK / MB 07% ATL 07% Base: All (n=1539) PHASE 2: RESPONDENT PROFILE URBAN 43% SUBURBAN 36% RURAL 18%
  • 22. MARITAL STATUSHH INCOME EDUCATION 27% 58% 14% 1% SINGLE MARRIED / CL WIDOWED / DIVORCED / SEPARATED REFUSAL YES 29% NO 70% CHILDREN < 18 Base: All (n=1539) 32% 29% 37% UNIVERSITY SOME COLLEGE / COLLEGE HIGH SCHOOL OR LESS REFUSAL 23% 32% 33% 12% < $40K $40K - < $80K $80K+ REFUSAL PHASE 2: RESPONDENT PROFILE
  • 24. FOUR-IN-TEN CANADIANS ARE INTERESTED IN PAYMENTS BECOMING MORE INVISIBLE More than four-in-ten (43%) Canadians are interested in payments becoming more invisible. Younger Canadians (ages 18-34), males, those who live in urban Canada, and those with children <18 are significantly more likely to be interested in payments that are more invisible. 43% 12% 31% 50% 24% 26% 8% INTERESTED Very interested Somewhat interested NOT INTERESTED Not very interested Not at all interested DK / Prefer not to answer 0001 To what extent are you interested in payments that become more invisible? In other words, you just take/order products and services and the payment happens automatically in the background. (e.g. Uber/Amazon Go) Base: All (n=1539) INTEREST IN PAYMENTS BECOMING MORE INVISIBLE:
  • 25. A THIRD ARE INTERESTED IN SOCIAL NETWORKING APPS AS A PAYMENT OPTION IN CANADA One-third (33%) of Canadians are interested in social networking apps, such as Alipay and WeChat, as a payment option in Canada, while 60% are not interested. Similar to those who are interested in invisible payments, younger Canadians (ages 18-34), males, those who live in urban Canada, and those with children <18 are significantly more likely to be interested in social networking apps, such as Alipay and WeChat, as a payment option in Canada. 33% 8% 25% 60% 28% 32% 7% INTERESTED Very interested Somewhat interested NOT INTERESTED Not very interested Not at all interested DK / Prefer not to answer 0002 In countries with more modernized payments options, consumers use social networking apps, such as Alipay and WeChat. To what extent would you be interested in these payment options in Canada? Base: All (n=1539) INTEREST IN SOCIAL NETWORKING APPS AS PAYMENT OPTIONS IN CANADA:
  • 26. MORE THAN HALF HAVE LEFT A STORE OR ABANDONED AN ONLINE PURCHASE DUE TO INCONVENIENCE AT CHECKOUT More than half (53%) of Canadians have left a store or abandoned an online purchase at some point, due to inconvenience at check-out, with one-in-ten saying they have done this on several occasions. Canadians 18-64, and those from Ontario and the Prairies, are significantly more likely to have left a store or abandoned an online purchase at some point due to inconvenience at check- out. 53% 12% 30% 10% 44% 3% YES Yes, on several occasions Yes, once or twice Yes, not in the last year No, not that I can remember DK / Prefer not to answer 0003 Have you left a store or abandoned an online purchase in the last year because of inconvenience at check -out? Base: All (n=1539) LEFT A STORE OR ABANDONED AN ONLINE PURCHASE IN THE LAST YEAR BECAUSE OF INCONVENIENE AT CHECK- OUT:
  • 27. FOUR-IN-TEN ARE INTERESTED IN ALIAS OR TOKEN ID ALLOWING OTHERS TO PAY/SEND MONEY ACROSS A VARIETY OF PLATFORMS Four-in-ten (38%) are interested in alias or token ID allowing others to pay/send money across a variety of platforms, while 48% are not interested. Similar to those who are interested in invisible payments and social networking apps as a payment option in Canada, younger Canadians (ages 18-34), males, those who live in urban Canada, and those with children <18 are significantly more likely to be interested in alias or token ID allowing others to pay/send money across a variety of platforms. 38% 8% 30% 48% 21% 27% 14% AGREE Strongly agree Somewhat agree DISAGREE Somewhat disagree Strongly disagree DK / Prefer not to answer 0004 Would you be interested in an alias or token ID for yourself that would allow others to pay you/send money across a variety of platforms, such as media, text or email? To what extent do you agree or disagree: Base: All (n=1539) % AGREE: INTERSTED IN ALIAS OR TOKEN ID THAT WOULD ALLOW OTHERS TO PAY/SEND MONEY ACROSS PLATFORMS:
  • 28. ONE-IN-FIVE HAVE UPLOADED AN E-WALLET APP SINCE IT LAUNCHED IN CANADA One-in-five (19%) Canadians have uploaded an e-wallet app since it launched in Canada. Younger Canadians (age 18-44) and males are significantly more likely to say they have uploaded an e-wallet, while older Canadians (45 and older) and females are significantly more likely to have not uploaded an e-wallet. As well, higher earning Canadians ($80K+ vs <$80K), are significantly more likely to have uploaded an e- wallet app since it launched in Canada. 19% 78% 70% 9% 3% Yes NO No No, my bank and debit card are not offering the service yet DK / Prefer not to answer 0005 Have you uploaded an e-wallet (Apple Pay, Google Wallet, etc.) app since it launched in Canada? Base: All (n=1539) Have uploaded an e-wallet: June 2018: 19% April 2018: 16% April 2017: 13% % WHO’VE UPLOADED AN E-WALLET APP SINCE IT LAUNCHED IN CANADA Since April 2017, the percentage of Canadians who have uploaded an e- wallet has been steadily increasing
  • 29. 70% WHO HAVE UPLOADED AN E-WALLET HAVE USED THIS PAYMENT TYPE Among those who have uploaded an e-wallet, seven-in-ten (70%) have used this payment type since it has been launched in Canada. % WHO HAVE USED E-WALLET SINCE IT’S BEEN LAUNCHED: 0006 Have you used your e-wallet for payment since you’ve uploaded it? Base: All (n=1539) Yes 70% No 30% 19% HAVE UPLOADED AN E- WALLET
  • 30. ABOUT PAYMENTS CANADA Payments Canada ensures that financial transactions in Canada are carried out safely and securely each day. The organization underpins the Canadian financial system and economy by owning and operating Canada’s payment clearing and settlement infrastructure, including associated systems, bylaws, rules and standards. The value of payments cleared by Payments Canada’s systems in 2017 was approximately $50 trillion or $200 billion every business day. These encompass a wide range of payments made by Canadians and businesses involving inter-bank transactions, including those made with debit cards, pre- authorized debits, direct deposits, bill payments, wire payments and cheques. Payments Canada is a proud supporter of the Catalyst Accord and The 30% Club.