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Payments Pulse Survey: Consumer Edition (May 2019)

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DATE
Report
PROJECT NUMBER
May 2019
PAYMENTS PULSE SURVEY:
CONSUMER EDITION

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The third annual Payments Pulse Survey: Consumer Edition explores the payment preferences of Canadians and the forces dr...

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QUANTITATIVE RESEARCH INSTRUMENT
An online survey of 1564 Canadians was completed between April 19-22, 2019, using Leger...

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Payments Pulse Survey: Consumer Edition (May 2019)

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The third annual Payments Pulse Survey: Consumer Edition explores the payment preferences of Canadians and the forces driving the movement for innovative payment methods. The study revealed significant generational insights into Millennials and Generation Z when it comes to the way Canadians pay and what they are yearning for.

The study was conducted by Leger Marketing Inc., on behalf of Payments Canada between April 12 and April 19, 2019. An online survey of 1,564 Canadians was completed using Leger’s online panel. The margin of error for this study was +/-2.8%, 19 times out of 20.

The third annual Payments Pulse Survey: Consumer Edition explores the payment preferences of Canadians and the forces driving the movement for innovative payment methods. The study revealed significant generational insights into Millennials and Generation Z when it comes to the way Canadians pay and what they are yearning for.

The study was conducted by Leger Marketing Inc., on behalf of Payments Canada between April 12 and April 19, 2019. An online survey of 1,564 Canadians was completed using Leger’s online panel. The margin of error for this study was +/-2.8%, 19 times out of 20.

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Payments Pulse Survey: Consumer Edition (May 2019)

  1. 1. DATE Report PROJECT NUMBER May 2019 PAYMENTS PULSE SURVEY: CONSUMER EDITION
  2. 2. 2 The third annual Payments Pulse Survey: Consumer Edition explores the payment preferences of Canadians and the forces driving the movement for innovative payment methods. The study revealed significant generational insights into Millennials and Generation Z when it comes to the way they pay and what they are yearning for. Research showed that when it comes to cash younger Canadians are moving away from the tangible currency. Seventy per cent of Canadians aged 18-34 say they are willing to move away from cash for other forms of payment. This group is looking for payment methods and tools that fit their evolving lifestyle patterns. For younger Canadians, the easier the payment process, the better. When online shoppers click on the shopping cart, the study found those aged 18-34 are more likely to choose a retailer that offers a fast and efficient check-out versus those with a longer purchase process. This number increases when their payment information is stored within an app or online – readily accessible – with nearly half stating an increased likelihood to make a spontaneous purchase if this was the case. On the other side of the coin, Canadians still want options when it comes time to check-out. The findings show that the younger generation is driving the movement for innovative payment technologies and a modern payments system. This cohort is more in favour of open banking, mobile financial services, pay tracking applications, streamlined invisible payment methods and being paid daily. It comes down to quick and convenient options that reflect their fast-paced lifestyle and purchase preferences. With ever-evolving technologies and consumer attitudes, the need for a modern payment system is great. Payments Canada’s Modernization initiative aims to enhance the consumer experience by providing more choice to Canadians at the register through a faster, more efficient and innovative payments system. From the implementation of a Real-Time Rail that will facilitate the delivery of low-value payments instantaneously, to more data travelling with the payment to provide clarity on the transaction, the future of payments is bright and within reach. FOREWORD
  3. 3. 3 QUANTITATIVE RESEARCH INSTRUMENT An online survey of 1564 Canadians was completed between April 19-22, 2019, using Leger’s online panel. The margin of error for this study was +/-2.8%, 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. METHODOLOGY
  4. 4. THE RESULTS
  5. 5. HALF OF CANADIANS SPEND AT LEAST $100 IN CASH PER MONTH ON AVERAGE 5 0001 Approximately how much cash do you use in a typical month? Base: All (n=1564). More than half of Canadians (54%) spend $100 or more in cash each month. Those likely to say they spend more then $100 are older Canadians (60% of those over 55 vs. 50% those under 55). Millennials (age 18-34) are significantly more likely than any other age group to say they spend less than $100 cash monthly (47% vs. 32% those 35 and older). 36% 2% 13% 21% 54% 20% 20% 14% 10% AMOUNT OF CASH USED PER MONTH: <$100 (NET) None <$30 $30-$99 $100+ (NET) $100-$199 $200-$499 $500+ I don’t know/Prefer not to answer AGE <55 55+ 40% 30% 2% 2% 15% 10% 23% 18% 50% 60% 19% 21% 17% 24% 13% 15% 10% 10%
  6. 6. MOST USE CASH FEWER THAN TWENTY TIMES PER MONTH 6 0002 Approximately how many times do you use cash in a typical month? Base: All (n=1564). Four-in-ten (42%) say they use cash 4 or fewer times per month, with few (3%) saying the use no cash. A similar number (43%) say they use cash 5-19 time monthly. Less than one-in-ten (9%) use cash more than 20 times per month. Those under age 55 are significantly more likely to say they use cash 4 or fewer times (45% vs. 37% those 55+). Millennials (age 18-34) are even less likely to use cash with more than half (53%) using cash 4 or less times per month (compared to those 35 and older. 42% 3% 39% 43% 25% 18% 9% 7% 2% 6% NUMBER OF TIMES CASH USED PER MONTH: 4 or less (NET) 0 1-4 5-19 (NET) 5-9 10-19 20+ (NET) 20-49 50+ DK / Prefer not to answer AGE <55 55+ 45% 37% 3% 3% 42% 34% 41% 46% 24% 27% 17% 19% 7% 11% 6% 9% 2% 2% 6% 6%
  7. 7. CANADIANS ARE STILL SOMEWHAT FRUSTRATED IF CASH ISN’T AN OPTION WHEN IT COMES TO PAYING 7 0003 How would you feel if cash weren’t an option to pay at checkout? Base: All (n=1564). Half (51%) would be at ease if cash were not an option to pay at checkout, with 26% saying they’d be very at ease. Slightly fewer (45%) still say they are frustrated when cash isn’t available at checkout. Age plays only a role when it comes to those who say they’d be very frustrated, with 24% of those over 55 saying that’s how they’d feel, compared to 17% of those under age 55. Those who spend more cash each month ($100 or more) are significantly more likely to say they’d be frustrated (54% vs. 30% those who spend less), while those who spend less cash (under $100) are significantly more likely to say they’d feel at ease (66% vs. 44% those spending $100 or more). LEVEL OF FRUSTRATION/EASE IF CASH IS NOT AN OPTION AT CHECKOUT: 51% 26% 25% 45% 25% 20% 4% AT EASE Very at ease Somewhat at ease FRUSTRATED Somewhat frustrated Very frustrated DK / I prefer not to answer
  8. 8. HALF HAVE MOVED AWAY FROM USING CASH FOR LOW PRICE PURCHASES 8 0004 In the last year, have you moved away from cash and coins to using other forms of payments for low price purchases? Base: All (n=1564). Half of Canadians (52%) say they have completely or mostly moved away from using cash, with 16% saying they’ve completely stopped using cash. Millennials (age 18-34) are significantly more likely to have completely moved away from cash (25% vs. 13% those 35 and older). University-educated Canadians are also significantly more likely to have moved completely away from cash (22% vs. 14% less educated). Those who say they are ‘at ease’ if faced with cash not being an option at checkout, and those who spend less than $100 cash monthly are more likely to say they have completely or mostly moved away from using cash. MOVED AWAY FROM USING CASH: 52% 16% 36% 45% 21% 24% 3% COMPLETELY / MOSTLY (NET) Completely Mostly SOMEWHAT / NO (NET) Somewhat No, still use cash DK / I prefer not to answer 73% Somewhat / mostly / completely moving away from cash
  9. 9. SIX-IN-TEN ARE WILLING TO MOVE AWAY FROM USING CASH TO OTHER FORMS OF PAYMENTS 9 0005 How willing are you to move away from using cash and coins to other forms of payments? Base: All (n=1564). WILLINGNESS TO MOVE AWAY FROM USING CASH: 62% 28% 34% 35% 22% 13% 3% WILLING (NET) Very willing Somewhat willing NOT WILLING (NET) Not very willing Not at all willing DK / I prefer not to answer AGE <55 55+ 66% 56% 32% 23% 34% 34% 31% 42% 20% 25% 10% 16% 3% 2% Despite 45% of Canadians saying they would feel frustrated if cash were not a payment option and that they are less likely to have been already moving away from using cash, only 35% say they are unwilling to move away from using cash and coins to other forms of payments. Six-in-ten (62%) say they would be willing to move away from using cash, with 28% saying they’d be very willing. Canadians under 55 are significantly more likely to say they’d be open to moving away from the use of cash (66% vs. 56% those over 55) as well as those with a higher education (71% university and 63% college graduates vs. 53% high school educated).
  10. 10. FOUR-IN-TEN HAVE USED THEIR SMARTPHONE CAMERA/MOBILE APP TO DEPOSIT A CHEQUE, AND VIRTUALLY ALL FIND IT CONVENIENT 10 0006 Have you deposited a cheque using your smartphone camera and mobile banking app? Base: All (n=1564). 0007 Based on your experience of depositing a cheque using your smartphone camera and mobile banking app, how convenient do you find the process? Base: Those saying Yes at Q6 (n=552). 80% 18% 2% <1% 1% Very convenient Somewhat convenient Not very convenient Not at all convenient DK/Prefer not to answer CONVENIENCE OF USING SMARTPHONE CAMERA/MOBILE BANKING APP TO DEPOSIT CHEQUES: YES, 38%NO, 61% Four-in-ten (38%) Canadians have deposited a cheque using their smartphone and a banking app, and nearly all (97%) found it convenient, with 80% saying very convenient. Millennials (61%) are significantly more likely to have deposited a cheque via their smartphone camera/ mobile app, those 65+ are least likely to have done so (13%). Again, those who are at ease when faced with cash as no option, are moving away or willing to move away from using cash, and spend less than $100 cash monthly are more likely to have deposited a cheque using their phone. EVER DEPOSITED A CHEQUE USING SMARTPHONE CAMERA/MOBILE BANKING APP? 97% CONVENIENT 2% NOT CONVENIENT
  11. 11. HALF FIND AT LEAST ONE BENEFIT TO USING CREDIT CARDS TO PAY FOR THINGS 11 0008 To what degree do you agree/disagree with the following statements: Base: All (n=1564). 4% 5% 11% 6% 8% 13% 16% 28% 11% 11% 20% 27% 32% 29% 30% 31% 45% 42% 23% 10% DK/Prefer not to answer Strongly disagree Somewhat disagree Somewhat agree Strongly agree I use my credit card because it’s convenient. I use my credit card because of the rewards program. I use my credit card because there are no better options for in-app or online purchases. I like to use/receive cheques for personal payments. Three-quarters (77%) say they use their credit card for the convenience, followed by 71% who use it for the rewards program. Slightly more than half (53%) say there are no better options for in-app or online purchases. Four-in-ten (38%) like to use/receive cheques for personal payments. Canadians 65 or older say they use their credit card because it’s convenient and use a credit card because of the rewards program, while those under 44 say it’s the best way to pay for in-app or online purchases. Those outside of Quebec are more likely to say they use their credit card for the loyalty rewards (73% vs. 64% QC), while Quebecers are more likely to say their credit card is the best option for in-app or online payments (68% vs. 48% in the rest of Canada). AGREEMENT WITH THE FOLLOWING: AGREE (NET) AGE 18-34 35-44 45-54 55-64 65+ 77% 77% 76% 76% 73% 85% 71% 69% 74% 70% 65% 79% 53% 64% 59% 52% 45% 43% 38% 42% 37% 33% 36% 42%
  12. 12. DEBIT CARDS, CASH, AND CREDIT CARDS ARE SEEN AS THE MOST TRUSTED PAYMENT METHODS 12 0009 Which method of payment do you most trust? Please select all that apply. Base: All (n=1564). 64% 63% 61% 38% 28% 24% 21% 16% 6% 3% 2% 1% 0% 1% More than six-in-ten feel that the tried and true forms of payment are the most trusted, saying that debit (64%), cash (63%), and credit cards (61%) are almost equally credible. More recent methods of payments such as e- transfers, PayPal, or automated funds transfers are thought to be trusted by at least one-quarter of Canadians. Canadians 65 and older (compared to those under 65) are significantly more likely to believe that Cheques and credit cards are a trustworthy payment method. Quebecers on the other hand, are significantly more likely to believe that debit is a trustworthy payment method (71% vs 62% compared to the rest of Canadians) MOST TRUSTED PAYMENT METHODS: Debit Cash Credit Card E-Transfers PayPal Automated funds transfer/ direct deposit Cheque Contactless/Tap E-Wallet Retail Apps Check-out free transactions Digital currency QR Code DK/Prefer not to answer
  13. 13. FOUR-IN-TEN TRACK THEIR SPENDING VIA THEIR BANK STATEMENTS – ONE-IN-TEN DON’T TRACK THEIR SPENDING AT ALL! 13 0010 How do you track your spending? Base: All (n=1564). Four-in-ten (44%) say they track their spending though their bank statements, while fewer use an app or website (26%) or track manually (12%). One-in-ten (11%) say they don’t track their spending at all. Younger (18-34) and older (65+) Canadians are more likely to say they track their spending (91% and 92% respectively). Those 18-44 are more likely to use an app/website while those 65 or older more likely to track it manually. Quebecers are also more likely to say they keep track of their spending (92% vs. 86% RoC). 87% 44% 26% 12% 5% 11% 1% Track Spending (NET) Via my bank statements An app / website Manually (spreadsheet) Other I don’t track my spending DK/Prefer not to answer TRACKING SPENDING: AGE 18-34 35-44 45-54 55-64 65+ 91% 85% 82% 83% 92% 39% 37% 44% 48% 51% 39% 32% 22% 21% 14% 11% 10% 13% 9% 19% 3% 6% 3% 5% 8% 8% 13% 15% 16% 8% 1% 2% 2% 1% 1%
  14. 14. NEARLY TWO-THIRDS ARE IN FAVOUR OF COMBINING ALL THEIR FINANCIAL DATA INTO ONE WEB DASHBOARD 14 0011 If you could combine all of your financial data into one web dashboard to better track your spending, how likely would you be to do this? Base: All (n=1564). Nearly two-thirds (63%) would be likely to consider combining all their financial data into one web dashboard to better track their spending. Canadians 18-34 and Quebecers (69% vs. 61% rest of Canada) are significantly more likely to say they’d do this. Those with a college or university education, and those earning $80K or higher are also more likely to say they’d combine their data into one web dashboard. LIKELIHOOD OF COMBINING FINANCIAL DATA: 63% 25% 38% 29% 16% 13% 7% LIKELY (NET) Very likely Somewhat likely UNLIKELY (NET) Somewhat unlikely Very unlikely DK / I prefer not to answer AGE 18-34 35-44 45-54 55-64 65+ 77% 66% 63% 56% 49% 37% 25% 21% 19% 16% 40% 41% 42% 36% 34% 18% 25% 30% 36% 42% 14% 15% 14% 16% 20% 4% 9% 16% 19% 22% 5% 9% 7% 8% 8%
  15. 15. MOST SAY THEY INFREQUENTLY NOTE A BANK/CREDIT CARD TRANSACTION THEY DON’T RECOGNIZE 15 0012 How often do you see a transaction on your bank/credit card statement that you don't recognize? Base: All (n=1564). One-in-ten (12%) say they often see a transaction on their bank/credit card statement that they don’t recognize, while 85% it is an infrequent occurrence. Younger Canadians are significantly more likely to say they often notice an unrecognizable transaction, as well as men (14% vs. 9% of women). FREQUENCY OF UNRECOGNIZABLE TRANSACTIONS: 12% 4% 8% 85% 17% 68% 3% OFTEN Very often Somewhat often INFREQUENTLY Somewhat infrequently Very infrequently DK / I prefer not to answer AGE 18-34 35-44 45-54 55-64 65+ MEN WOMEN 21% 15% 10% 6% 4% 14% 9% 7% 4% 3% 1% 1% 5% 2% 13% 11% 7% 5% 3% 10% 7% 77% 80% 87% 90% 94% 81% 89% 19% 21% 17% 15% 12% 16% 18% 59% 59% 70% 74% 83% 65% 71% 2% 5% 3% 4% 2% 4% 2%
  16. 16. EIGHT-IN-TEN CANADIANS WOULD BE ANXIOUS IF THEY SAW AN UNRECOGNIZABLE BANK/CREDIT CARD TRANSACTION 16 The majority (81%) of Canadians become anxious when they see a transaction on their bank and/or credit card statement that they do not recognize, with more than one-third (35%) saying they’d be very anxious. Those 18-34 (vs 35 and older) and women (vs men) are significantly ore likely to be anxious when they see a transaction on their bank / credit card statement that they don’t recognize. ANXIETY OVER UNRECOGNIZED TRANSACTIONS: 0013 If you see a transaction on your bank and/or credit card statement that you do not recognize, how does it make you feel? Base: All (n=1564). 81% 35% 46% 16% 13% 3% 3% ANXIOUS (NET) Very anxious Somewhat anxious NOT ANXIOUS (NET) Not very anxious Not at all anxious DK / I prefer not to answer AGE 18-34 35-44 45-54 55-64 65+ MEN WOMEN 84% 79% 86% 76% 80% 77% 85% 44% 29% 32% 34% 31% 31% 39% 39% 50% 54% 42% 49% 46% 46% 13% 16% 12% 20% 17% 20% 12% 11% 15% 9% 15% 15% 16% 10% 2% 1% 3% 5% 2% 4% 1% 3% 5% 2% 4% 3% 3% 3%
  17. 17. EASE OF CHECK OUT IS SEEN AS A POSITIVE – ALMOST TOO EASY SOMETIMES 17 0014 To what degree do you agree/disagree with the following statements: Base: All (n=1564). 8% 5% 23% 8% 15% 35% 33% 37% 20% 25% 15% 27% 43% 26% 16% 22% 14% 9% 13% 6% DK/Prefer not to answer Strongly disagree Somewhat disagree Somewhat agree Strongly agree About six-in-ten say that an easy payment / check out experience motivates them to choose one online retailer over another (58%). However, the downside to this convenience is that the ease of payment makes it more likely to make a regrettable, spontaneous online purchase (35%). Ease of payment is the reason three-in-ten (29%) say they prefer to use a ride hailing services like Uber, rather than a taxi. Younger Canadians are more likely to agree with all these statements. 58% 35% 29% 28% % AGREE AGREEMENT WITH THE FOLLOWING: An easy payment / check out experience motivates me to choose one online retailer over another. Because it was so easy to pay, I have made a spontaneous purchase online that I have later regretted. I prefer to use ride hailing services (e.g. Uber) rather than a taxi because the payment process is simpler. I am more likely to make a spontaneous purchase because my payment data is stored in app or online. AGE <55 55+ MEN WOMEN 66% 45% 58% 57% 44% 20% 36% 34% 39% 13% 35% 24% 38% 14% 30% 27%
  18. 18. IT’S CONVENIENT TO HAVE SUBSCRIPTIONS FOR PRODUCTS OR SERVICES PAID AUTOMATICALLY, ALTHOUGH THAT IS OFTEN FORGOTTEN ABOUT 18 0014 To what degree do you agree/disagree with the following statements: Base: All (n=1564). 6% 5% 12% 37% 17% 22% 48% 28% 16% 8% DK/Prefer not to answer Strongly disagree Somewhat disagree Somewhat agree Strongly agree Two-thirds (64%) feel that it’s convenient to have subscriptions for products or services that are paid for automatically, but almost half that (36%) say they sometimes forget about subscriptions they’ve signed up for when the payment is automatically deducted. Those outside Quebec are more likely to say they forget that they’ve signed up for automatic payments (38% vs. 30% Quebecers). 64% 36% % AGREEAGREEMENT WITH THE FOLLOWING: It’s convenient to have subscriptions for products or services that are paid for automatically. I sometimes forget about subscriptions for products or services I’ve signed up for when the payment is deducted automatically. AGE <55 55+ MEN WOMEN 67% 61% 66% 63% 44% 25% 39% 34%
  19. 19. MEN AND YOUNGER CANADIANS LIKE THE IDEA OF GETTING A DAILY PAYCHEQUE, AND FEEL IT WOULD HELP THEM MANAGE THEIR SPENDING 19 0014 To what degree do you agree/disagree with the following statements: Base: All (n=1564). 6% 5% 12% 37% 17% 22% 48% 28% 16% 8% DK/Prefer not to answer Strongly disagree Somewhat disagree Somewhat agree Strongly agree Younger Canadians (under age 55) are nearly three times as likely as those older to say they’d like to receive a daily paycheque from their employer, and that it would help them manage or track their spending habits. Men (vs. women) are also more likely to agree with both statements. Those who earn less than $40K also agree they’d like to receive a daily paycheque (29% vs. 19% those earning more), and that a daily paycheque would help them manage spending (31% vs. 23% those earning $40K or more). 64% 36% % AGREEAGREEMENT WITH THE FOLLOWING: Getting a daily paycheque would help me manage or track my spending habits. I would like to receive a daily paycheque from my employer. AGE <55 55+ MEN WOMEN 32% 12% 28% 20% 29% 10% 25% 18%
  20. 20. ONE-IN-FIVE ARE IN FAVOUR OF OPEN BANKING 20 0015 Have you heard of open banking? Base: All (n=1564). 0016 [after explanation] Are you in favour of open banking? Base: All (n=1564). Few (7%) have heard of open banking. After learning about open banking, one-in- five are in favour, while 73% are not in favour. Canadians age 18-34 (29% vs. 13% those 35 and older), and men (vs women) are significantly more likely to say they are in favour. Four times as many who have already heard of open banking are likely to say they favour it (55% vs. 14% those who have not heard of open banking). IN FAVOUR OF OPEN BANKING: 17% 2% 15% 73% 27% 46% 10% IN FAVOUR (NET) Very in favour Somewhat in favour NOT IN FAVOUR (NET) Not very in favour Not at all in favour DK/ I prefer not to answer AGE 18-34 35-44 45-54 55-64 65+ MEN WOMEN 29% 17% 13% 13% 9% 20% 14% 5% 3% 1% 1% 1% 3% 2% 24% 14% 11% 12% 8% 17% 12% 62% 69% 77% 78% 84% 71% 76% 29% 28% 29% 25% 23% 27% 27% 33% 41% 48% 53% 61% 45% 48% 9% 14% 10% 8% 7% 8% 11% 7% HAVE HEARD OF OPEN BANKING “Open banking allows you to give permission to third-party programs to access your banking information. This same access may also be used to make payments, with your permission.”
  21. 21. SECURITY IS THE MAIN CONCERN FOR HALF WHEN IT COMES TO OPEN BANKING 21 0017 Which of the following reasons best describes any concerns that you have about open banking? Base: All (n=1564). 56% 21% 1% <1% 19% 2% Security Privacy Security and privacy Other I don't know enough DK / Prefer not to answer CONCERNS ABOUT OPEN BANKING: AGE <55 55+ 55% 58% 24% 16% 1% 1% <1% 1% 17% 23% 2% 1% More than half (56%) OF Canadians are most concerned with the security of open banking, while one-quarter (24%) are most concerned with privacy. Those living outside of Quebec are significantly more likely to be concerned with security (59% vs. 48% Quebecers). Canadians under 55 years are significantly more likely to be concerned with the privacy of open banking, while those 55 and older, say they just don’t know enough to know of any concerns.
  22. 22. HALF SEE AT LEAST ONE BENEFIT TO OPEN BANKING 22 0018 Based on your current knowledge of open banking, which of the following interests you when it comes to open banking? Base: All (n=1564). 48% 27% 18% 15% 9% <1% 6% 46% BENEFITS OF OPEN BANKING: ANY (NET) The ability to control my data The ability to better use new personal finance tools The ability to access new products/services tailored to me The ability to allow a third party to initiate a payment Other None of the above / it doesn't interest me / I am opposed to it DK / prefer not to answer Half (48%) of Canadians are interested in at least one benefit of open banking, with the ability to control their data coming out as the main benefit (27%). Canadians under the age of 55 (vs those 55 and older) are significantly more likely to believe each of the benefits are important. Among those who have heard of open banking, they are significantly more likely to be interested in at least one of the benefits of open banking (77% vs. 46% who have not heard of open banking). AGE <55 55+ 56% 34% 30% 22% 23% 9% 21% 7% 12% 5% <1% <1% 4% 10% 40% 56%
  23. 23. RESPONDENT PROFILES
  24. 24. 24 RESPONDENT PROFILE 27% 16% 18% 17% 21% 18-34 35-44 45-54 55-64 65+ AGEGENDER WOMEN 51% MEN 49% REGION QC 23% ON 38% AB 11% BC 14% SK / MB 7% ATL 7% Base: All (n=1564). URBAN 43% SUBURBAN 34% RURAL 20% REFUSAL 2%
  25. 25. 25% 30% 35% 10% < $40K $40K - < $80K $80K+ REFUSAL 25 RESPONDENT PROFILE MARITAL STATUSHH INCOME EDUCATION 28% 58% 13% 1% SINGLE MARRIED / CL WIDOWED / DIVORCED / SEPARATED REFUSAL YES 28% NO 71% CHILDREN < 18 Base: All (n=1564). 33% 29% 37% UNIVERSITY SOME COLLEGE / COLLEGE HIGH SCHOOL OR LESS REFUSAL
  26. 26. 26 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 2018 was approximately $53 trillion or $209 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, preauthorized debits, direct deposits, bill payments, wire payments and cheques. Payments Canada is a proud supporter of the Catalyst Accord and The 30% Club. ABOUT PAYMENTS CANADA

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