- 42% of Canadians are excited about the future of e-wallets and e-payments, though adoption rates remain low currently. 61% of Canadians like the idea of change when it comes to payments.
- 27% of Canadians have deposited a cheque using their smartphone camera and banking app, and 97% find this convenient. 13% have uploaded an e-wallet app since it launched in Canada.
- 41% of Canadians store their credit card information with mobile apps or online stores, and 90% feel their information is secure. However, only 48% of Canadians are willing to give up some privacy for more convenient payment methods.
- On average, Canadians use cash for 22 transactions totaling $220 per
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.
Payments Pulse Survey: Small Business EditionPayments Canada
Of the over one million employer businesses in Canada, 99.7 per cent represent small and medium-sized enterprises (SMEs), leaving 0.3 per cent representing large businesses. As a key economic driver, Payments Canada decided to focus a survey specifically on the payment interests of Canadian SMEs, Payments Pulse Survey: Small Business Edition.
Building on our E&Y report How can payments modernization benefit Canadian businesses? released earlier this year, we dug deeper to find out how payments systems meet SMEs’ business needs, how inefficiencies in current payments processing impact SMEs and how SMEs anticipate benefiting from a new payments system.
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 top anticipated enhancements will come from new real-time payments, giving small businesses more choice in how they make their payments, and the adoption of the ISO 20022 data standard, which has the potential to improve automation and efficiency by increasing the data that travels with a payment.
What we heard loud and clear is that Canadian SMEs are ready for more payment options. They want more choice for their customers at point-of-sale and more options for their back-office payments to suppliers and vendors, such as e-transfers, e-wallets and the digital currencies. And of course, they want their payments to be safe and secure.
Finally, the survey found that overwhelmingly the majority of SMEs are willing to integrate new technologies into their operations to meet future payment needs.
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.
Payments Pulse Survey: Small Business Edition (October 2019)Payments Canada
This year’s survey, which focuses on the payment trends, interests, and views of Canadian small businesses, revealed the majority of small businesses do fewer than 25 per cent of their transactions in cash but still feel obligated to accept it.
The 2019 Payments Pulse: Small Business Edition was undertaken by Leger and Payments Canada between September 17, 2019 and September 24, 2019. An online survey of 300 Canadian small business owners of companies with less than 499 employees was completed using Leger’s online panel. The margin of error for this study was +/- 5.6%, 19 times out of 20.
The survey found that while 58% of respondents reported actively preparing for the EMV transition deadline in October, 42% had either not taken steps or were unsure about preparations. The top obstacles cited were lack of time (19%) and access to deployment expertise (17%). Additionally, 66% of respondents believed that chip and signature technology did not offer sufficient security compared to chip and PIN. Over half of respondents thought the liability shift deadline should be delayed, though delay appears unlikely. In conclusion, the survey revealed that many businesses may miss the deadline due to delays in preparation and lack of expertise as the deadline approaches.
How are people managing their finances?What tools and services would make their lives easier? The quarterly consumer trends survey from Fiserv provides answers and insights.
In a presentation he gave at the 2014 CAMfire Conference in Las Vegas, NV, Ben Truehart explores the past of how homeowners pay their dues, and makes a well-researched and data backed case for online payment processing for community associations.
Expectations & Experiences, the quarterly consumer trends survey from Fiserv, revealed unique insight into people's perceptions about their credit score - and what drives their behavior. This excerpt is from Expectations & Experiences: Channels & New Entrants, 2016. Learn more: https://fisv.co/expectations-channels.
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.
Payments Pulse Survey: Small Business EditionPayments Canada
Of the over one million employer businesses in Canada, 99.7 per cent represent small and medium-sized enterprises (SMEs), leaving 0.3 per cent representing large businesses. As a key economic driver, Payments Canada decided to focus a survey specifically on the payment interests of Canadian SMEs, Payments Pulse Survey: Small Business Edition.
Building on our E&Y report How can payments modernization benefit Canadian businesses? released earlier this year, we dug deeper to find out how payments systems meet SMEs’ business needs, how inefficiencies in current payments processing impact SMEs and how SMEs anticipate benefiting from a new payments system.
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 top anticipated enhancements will come from new real-time payments, giving small businesses more choice in how they make their payments, and the adoption of the ISO 20022 data standard, which has the potential to improve automation and efficiency by increasing the data that travels with a payment.
What we heard loud and clear is that Canadian SMEs are ready for more payment options. They want more choice for their customers at point-of-sale and more options for their back-office payments to suppliers and vendors, such as e-transfers, e-wallets and the digital currencies. And of course, they want their payments to be safe and secure.
Finally, the survey found that overwhelmingly the majority of SMEs are willing to integrate new technologies into their operations to meet future payment needs.
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.
Payments Pulse Survey: Small Business Edition (October 2019)Payments Canada
This year’s survey, which focuses on the payment trends, interests, and views of Canadian small businesses, revealed the majority of small businesses do fewer than 25 per cent of their transactions in cash but still feel obligated to accept it.
The 2019 Payments Pulse: Small Business Edition was undertaken by Leger and Payments Canada between September 17, 2019 and September 24, 2019. An online survey of 300 Canadian small business owners of companies with less than 499 employees was completed using Leger’s online panel. The margin of error for this study was +/- 5.6%, 19 times out of 20.
The survey found that while 58% of respondents reported actively preparing for the EMV transition deadline in October, 42% had either not taken steps or were unsure about preparations. The top obstacles cited were lack of time (19%) and access to deployment expertise (17%). Additionally, 66% of respondents believed that chip and signature technology did not offer sufficient security compared to chip and PIN. Over half of respondents thought the liability shift deadline should be delayed, though delay appears unlikely. In conclusion, the survey revealed that many businesses may miss the deadline due to delays in preparation and lack of expertise as the deadline approaches.
How are people managing their finances?What tools and services would make their lives easier? The quarterly consumer trends survey from Fiserv provides answers and insights.
In a presentation he gave at the 2014 CAMfire Conference in Las Vegas, NV, Ben Truehart explores the past of how homeowners pay their dues, and makes a well-researched and data backed case for online payment processing for community associations.
Expectations & Experiences, the quarterly consumer trends survey from Fiserv, revealed unique insight into people's perceptions about their credit score - and what drives their behavior. This excerpt is from Expectations & Experiences: Channels & New Entrants, 2016. Learn more: https://fisv.co/expectations-channels.
A consumer research report from Echo Managed Services: 1,000 UK consumers give their thoughts and feelings around their billing experiences with everyday service providers and reveal which industry sectors are getting billing right and wrong.
This document discusses the shift towards a cashless society in the UK. It notes that contactless payments are gaining traction, with 200,000 contactless terminals now in operation. However, cash remains dominant for the number of transactions. The document then segments the population into three groups - Cashless Converts, Cashless Cautious, and Cashless Concerned - based on their propensity to use non-cash payments. It finds that the Cashless Cautious group, at 28 million people, is currently the largest and most important to move towards acceptance of contactless payments. Overcoming inertia in this group will be key to further success in reducing cash usage.
The Eighth Annual Billing Household Survey provides insight on consumer billing and payment with regard to speed, security and satisfaction. Download the full report: http://fisv.co/20fbEor.
Research commissioned by Fiserv shows substantial growth in mobile bill pay offerings and usage. This infographic illustrates the growth in mobile payment and the opportunity for billers to implement a mobile bill pay and presentment strategy.
The document analyzes consumer propensity to use cashless payment methods in a potential cashless society. It divides the population into three groups - Cashless Converts with the highest propensity, Cashless Cautious with medium propensity, and Cashless Concerned with the lowest propensity. It provides demographic and behavioral profiles of each group, and examples of how retailers and banks can target each group to increase cashless transactions and better understand barriers to a cashless society.
Research Paper | Counting the Cost of Debt Recovery 2018EchoMarketing
New consumer research from UK Outsourcer Echo Managed Services (https://www.echo-ms.com). Who are the Nation's debtors? | Reasons behind consumer arrears | effective and poor debt collection practice by sector | hidden costs of poor practice | debt and the causes of a negative stigma | the dangers of stereotyping consumers in arrears | awareness rates of vulnerable customer support schemes | data sharing - consumer attitudes and preferences | Key takeaways for UK service providers.
The Fiserv Consumer Trends Survey is one of the industry's longest running surveys of consumer financial habits. It highlights opportunities for financial institutions to better understand and expand their digital reach to all consumer segments.
Fiserv Case Marketing Strategy MBA 2012-2013
The document outlines Fiserv's goals to improve their e-billing market segmentation, understand customer perceptions, and implement an effective communication strategy without increasing budget. It analyzes the e-billing market potential and identifies customer clusters. The strategy proposes targeting early adopters, maximizers, and self-improvers by addressing their needs and solving communication problems through various marketing approaches.
Let's admit it: Payment fraud is widespread and a huge liability for companies. The only way to successfully combat it is to develop comprehensive strategies and make the most of fraud management tools. Join this session to hear new ideas and strategies from our payment partners and customers on how to defeat fraud, increase consumer confidence, and reduce collection friction.
Disruptive vs. Top Down Change in US Payments in 2016Walter Kitchenman
Innovation in Payments is rarely “Disruptive,” but is normally Top Down, driven by public private cooperation, where change is mandated from the top, and entrepreneurs respond to consumer preferences at the margins. In this presentation we show how mobile payments and the Cloud, accompanied by the requirements of likely eCity networks and APPs wlll emerge in 2016 and benefit IT innovators and non-FSIs (non-Financial Service Institutions).
Digital Credit Marketing Best Practices and Trends WebinarExperian
Hear the latest from industry experts on how FIs are launching innovative campaigns to capture the elusive credit-qualified consumer. Learn: the latest trends in credit marketing lenders need to know, the digital channels that are gaining traction and how to gain a competitive advantage when promoting your lending products.
Learn about how remittance challenges have grown as electronic payment usage has continued to grow. Learn about how the movement to electronic payments and remittances has created benefits for accounts payable but created a cash application challenge for those in accounts receivable. Created by Centreviews Business Intelligence Suite.
The document discusses gift card fraud and solutions for retailers. It notes that gift card sales have grown significantly, including through digital and mobile channels, but this growth has also increased vulnerability to fraud. The document then discusses three solutions retailers should consider: completely outsourcing fraud management, handling it in-house, or using third-party services. It emphasizes assessing current fraud prevention capabilities before determining a strategy to ensure the right level of protection and customer experience.
Q2 2015 insights on consumer credit trends and the current state of the real ...Experian
View the Q2 2015 recap of the Experian-Oliver Wyman Market Intelligence Report, including the latest consumer credit trends and a key focus on the current U.S. real estate market.
In the 21st century digital economy, consumers expect and demand a digital experience for the products and services they consume in the marketplace. To meet consumers’ needs and preferences, lenders are seeking out new innovative products that help deliver relevant credit offers across digital channels, whether via text, email, or social media. As the industry moves forward to provide these opportunities, recent news reports about privacy disclosures and data security have raised questions about the legal frameworks governing the delivery of credit offers in the digital space.
These slides feature content presented by Venable LLP’s eCommerce, Privacy, and Cybersecurity Practice Group on the regulatory environment surrounding credit marketing in the digital age. Venable practitioners review how the Fair Credit Reporting Act, Gramm Leach Bliley Act, and other laws apply in today’s world, including for credit offers made via text, email and social channels. It also reveals some common best practices that align with the expectations of the Federal Trade Commission.
The document summarizes the findings of a survey of over 4,500 UK financial services customers. It finds that while customers appreciate the increased convenience of digital services, they still desire a human touch in their interactions, especially for important decisions. Customers are also concerned about how their personal data is used. To succeed, financial institutions must offer highly personalized services and interactions through natural conversations, using data and technology to enhance rather than replace human elements.
This document provides a market update on enterprise fraud management from CEB TowerGroup. It summarizes key trends in the enterprise fraud management market, including that reported fraud incidents and losses are increasing, though the cost per fraud incident is declining. It also discusses challenges in restoring consumer confidence in financial institutions' ability to prevent fraud. The document recommends that banks improve key metrics tracking, enable better consumer tools, and find common process efficiencies across fraud management silos.
Iress mortgage efficiency survey report 2014 Henry Woodcock
The IRESS mortgage efficiency survey measures and benchmarks key performance indicators for mortgage lenders. This is the third year of the survey so we are also able to look at developing trends over the three year period.
In all the participants represent a 66% market share of gross lending equating to just under £120bn of mortgage loans.
The State of EMV Payment Solutions: Countdown to 2015Harland Clarke
Less than 18 months remain until the October 2015 liability shift to Europay®, MasterCard® and Visa® (EMV). Are financial institutions prepared and what are their projected implementation deadlines? Have recent data breaches affected the speed of implementation?
Digital, and mobile specifically, has had a massive impact on how consumers manage their finances—that’s for sure. However, while digital and mobile bank self-service offerings are most popular, new research finds that physical bank branches remain an important touch point.
The document summarizes the key findings of a survey about credit card usage in Vietnam conducted by Di-Marketing in June 2017. The survey had 410 respondents nationwide. Key findings include:
- On average, credit card users start owning a card at age 25. Online payment, shopping abroad, and paying utilities are the top three appropriate uses of credit cards.
- Respondents consider the current cash withdrawal interest rate acceptable but the overdue repayment interest high.
- Convenient carrying, online purchases, and urgent needs are seen as top advantages while interest if late, annual fees, and exceeding limits are top disadvantages.
A consumer research report from Echo Managed Services: 1,000 UK consumers give their thoughts and feelings around their billing experiences with everyday service providers and reveal which industry sectors are getting billing right and wrong.
This document discusses the shift towards a cashless society in the UK. It notes that contactless payments are gaining traction, with 200,000 contactless terminals now in operation. However, cash remains dominant for the number of transactions. The document then segments the population into three groups - Cashless Converts, Cashless Cautious, and Cashless Concerned - based on their propensity to use non-cash payments. It finds that the Cashless Cautious group, at 28 million people, is currently the largest and most important to move towards acceptance of contactless payments. Overcoming inertia in this group will be key to further success in reducing cash usage.
The Eighth Annual Billing Household Survey provides insight on consumer billing and payment with regard to speed, security and satisfaction. Download the full report: http://fisv.co/20fbEor.
Research commissioned by Fiserv shows substantial growth in mobile bill pay offerings and usage. This infographic illustrates the growth in mobile payment and the opportunity for billers to implement a mobile bill pay and presentment strategy.
The document analyzes consumer propensity to use cashless payment methods in a potential cashless society. It divides the population into three groups - Cashless Converts with the highest propensity, Cashless Cautious with medium propensity, and Cashless Concerned with the lowest propensity. It provides demographic and behavioral profiles of each group, and examples of how retailers and banks can target each group to increase cashless transactions and better understand barriers to a cashless society.
Research Paper | Counting the Cost of Debt Recovery 2018EchoMarketing
New consumer research from UK Outsourcer Echo Managed Services (https://www.echo-ms.com). Who are the Nation's debtors? | Reasons behind consumer arrears | effective and poor debt collection practice by sector | hidden costs of poor practice | debt and the causes of a negative stigma | the dangers of stereotyping consumers in arrears | awareness rates of vulnerable customer support schemes | data sharing - consumer attitudes and preferences | Key takeaways for UK service providers.
The Fiserv Consumer Trends Survey is one of the industry's longest running surveys of consumer financial habits. It highlights opportunities for financial institutions to better understand and expand their digital reach to all consumer segments.
Fiserv Case Marketing Strategy MBA 2012-2013
The document outlines Fiserv's goals to improve their e-billing market segmentation, understand customer perceptions, and implement an effective communication strategy without increasing budget. It analyzes the e-billing market potential and identifies customer clusters. The strategy proposes targeting early adopters, maximizers, and self-improvers by addressing their needs and solving communication problems through various marketing approaches.
Let's admit it: Payment fraud is widespread and a huge liability for companies. The only way to successfully combat it is to develop comprehensive strategies and make the most of fraud management tools. Join this session to hear new ideas and strategies from our payment partners and customers on how to defeat fraud, increase consumer confidence, and reduce collection friction.
Disruptive vs. Top Down Change in US Payments in 2016Walter Kitchenman
Innovation in Payments is rarely “Disruptive,” but is normally Top Down, driven by public private cooperation, where change is mandated from the top, and entrepreneurs respond to consumer preferences at the margins. In this presentation we show how mobile payments and the Cloud, accompanied by the requirements of likely eCity networks and APPs wlll emerge in 2016 and benefit IT innovators and non-FSIs (non-Financial Service Institutions).
Digital Credit Marketing Best Practices and Trends WebinarExperian
Hear the latest from industry experts on how FIs are launching innovative campaigns to capture the elusive credit-qualified consumer. Learn: the latest trends in credit marketing lenders need to know, the digital channels that are gaining traction and how to gain a competitive advantage when promoting your lending products.
Learn about how remittance challenges have grown as electronic payment usage has continued to grow. Learn about how the movement to electronic payments and remittances has created benefits for accounts payable but created a cash application challenge for those in accounts receivable. Created by Centreviews Business Intelligence Suite.
The document discusses gift card fraud and solutions for retailers. It notes that gift card sales have grown significantly, including through digital and mobile channels, but this growth has also increased vulnerability to fraud. The document then discusses three solutions retailers should consider: completely outsourcing fraud management, handling it in-house, or using third-party services. It emphasizes assessing current fraud prevention capabilities before determining a strategy to ensure the right level of protection and customer experience.
Q2 2015 insights on consumer credit trends and the current state of the real ...Experian
View the Q2 2015 recap of the Experian-Oliver Wyman Market Intelligence Report, including the latest consumer credit trends and a key focus on the current U.S. real estate market.
In the 21st century digital economy, consumers expect and demand a digital experience for the products and services they consume in the marketplace. To meet consumers’ needs and preferences, lenders are seeking out new innovative products that help deliver relevant credit offers across digital channels, whether via text, email, or social media. As the industry moves forward to provide these opportunities, recent news reports about privacy disclosures and data security have raised questions about the legal frameworks governing the delivery of credit offers in the digital space.
These slides feature content presented by Venable LLP’s eCommerce, Privacy, and Cybersecurity Practice Group on the regulatory environment surrounding credit marketing in the digital age. Venable practitioners review how the Fair Credit Reporting Act, Gramm Leach Bliley Act, and other laws apply in today’s world, including for credit offers made via text, email and social channels. It also reveals some common best practices that align with the expectations of the Federal Trade Commission.
The document summarizes the findings of a survey of over 4,500 UK financial services customers. It finds that while customers appreciate the increased convenience of digital services, they still desire a human touch in their interactions, especially for important decisions. Customers are also concerned about how their personal data is used. To succeed, financial institutions must offer highly personalized services and interactions through natural conversations, using data and technology to enhance rather than replace human elements.
This document provides a market update on enterprise fraud management from CEB TowerGroup. It summarizes key trends in the enterprise fraud management market, including that reported fraud incidents and losses are increasing, though the cost per fraud incident is declining. It also discusses challenges in restoring consumer confidence in financial institutions' ability to prevent fraud. The document recommends that banks improve key metrics tracking, enable better consumer tools, and find common process efficiencies across fraud management silos.
Iress mortgage efficiency survey report 2014 Henry Woodcock
The IRESS mortgage efficiency survey measures and benchmarks key performance indicators for mortgage lenders. This is the third year of the survey so we are also able to look at developing trends over the three year period.
In all the participants represent a 66% market share of gross lending equating to just under £120bn of mortgage loans.
The State of EMV Payment Solutions: Countdown to 2015Harland Clarke
Less than 18 months remain until the October 2015 liability shift to Europay®, MasterCard® and Visa® (EMV). Are financial institutions prepared and what are their projected implementation deadlines? Have recent data breaches affected the speed of implementation?
Digital, and mobile specifically, has had a massive impact on how consumers manage their finances—that’s for sure. However, while digital and mobile bank self-service offerings are most popular, new research finds that physical bank branches remain an important touch point.
The document summarizes the key findings of a survey about credit card usage in Vietnam conducted by Di-Marketing in June 2017. The survey had 410 respondents nationwide. Key findings include:
- On average, credit card users start owning a card at age 25. Online payment, shopping abroad, and paying utilities are the top three appropriate uses of credit cards.
- Respondents consider the current cash withdrawal interest rate acceptable but the overdue repayment interest high.
- Convenient carrying, online purchases, and urgent needs are seen as top advantages while interest if late, annual fees, and exceeding limits are top disadvantages.
Online payment (79%), Shopping abroad (65%), Pay for utility (63%) are top 3 things appropriate for using credit card
Find more at: http://di-onlinesurvey.com/
Vietnam is in the top of the country in the world having the fastest growing population of ultra rich individuals. This leads to a blooming consumption. The modern trade therefore thrives.
The competition among retail chains is very tough. All the retail brands take measures to engage their customers, retain and drive repeat purchases. A loyalty program is one of a most useful tool to manage the customer database and increase the engagement with the brand.
The research was conducted to have a better understand of the loyalty program usage. It surveyed 260 shoppers at modern retail chains, from 15 to 60 years old nationwide.
Viettrack 2018 report yes all i need is convenienceIntage VN
The document discusses trends in online and offline convenience shopping in Vietnam. It finds that consumers are increasingly seeking convenient solutions due to busy lifestyles. Mini-marts and convenience stores are growing in popularity to meet this need for convenience. Convenience stores are also becoming popular places for dining and socializing. The report also examines the rise of online shopping driven by demands for convenience, with most purchases made on mobile apps. Common purchases include clothing, household goods, and fast-moving consumer goods. Payment methods are evolving towards digital options like e-wallets and mobile banking. Addressing issues like delivery and returns will be important to further growth in online convenience shopping.
Neto State of Ecommerce Report: Retail Year in Review 2017Neto
This year, technology has continued to present both challenges and opportunities for almost every industry, and retail has not been immune. Artificial intelligence, voice recognition, virtual reality and the Internet of Things (IOT) have all had a huge impact on both retailers and consumer behaviour.
Consumer habits and preferences are changing with regards to the way they shop, where they shop, when they shop, and how they pay for things. Shoppers expect a seamless, omni-channel experience that delivers the best value, every time.
And it’s up to retailers to deliver.
Learn how your ecommerce business measures up and how you can tailor your business to the changing needs of consumers.
A recent ABI Research global survey sponsored by the NFC Forum shows that contactless technologies like near field communication (NFC) are surging as consumers look for convenient and secure ways to pay, unlock and connect with the world around them.
1) The document analyzes E-wallet usage in Vietnam, finding a 59% usage rate in the past 3 months. Momo, ShopeePay, and ZaloPay are the most popular, with Momo being the most used.
2) While 57% of users intend to increase usage, 65% are unsure or likely to switch wallets. Retention depends on promotions and acceptance network breadth.
3) Usage varies by age - Gen Z uses E-wallets mainly for transfers while Gen X uses multiple apps and prefers ZaloPay for bill payments.
Is cash going away in the hospitality industry? Payment is a top priority for hospitality operators because it impacts business
success far beyond revenue collection. Speed of service, loyalty and guest engagement are all impacted.
The document summarizes key findings from a report on the rise of e-wallets in Vietnam. Some of the main points include:
- E-wallet usage in Vietnam has increased, with 59% of online consumers using an e-wallet in the past 3 months. Usage is higher in major cities at over 64%.
- The top three e-wallets (Momo, ShopeePay, ZaloPay) account for 87% of users. Momo is the most popular and most used e-wallet with 86%.
- While e-wallets see high usage, with 77% of users logging in at least once a week, customer loyalty is still a challenge as 65% of
The document discusses the results of a survey about mobile wallet usage among 2000 respondents in the US and UK. Some key findings include:
- Over half of respondents have used a mobile wallet pass and want to use them for loyalty cards, coupons, payments and other purposes.
- Mobile wallet drives loyalty program participation, with 69% being more likely to use a loyalty card stored in their mobile wallet.
- Mobile wallet is one of the top ways consumers want to receive information about sales and coupons.
- Interactive elements like expiration reminders in mobile wallet passes would boost coupon redemption rates.
- Millennials and higher-income households show the most desire and promise for mobile wallet usage.
UrbanAirship_State_of_Mobile_Wallet_Marketing_20160726 (1)Chris Osman
The document summarizes the findings of a survey about mobile wallet usage among 2000 respondents in the US and UK. Some key findings include:
- Over half of respondents have used a mobile wallet pass and want to use them for loyalty cards, coupons, and other purposes.
- Mobile wallet drives loyalty program participation, as respondents are more likely to use loyalty cards stored in their mobile wallet.
- Mobile wallet is one of the top ways consumers want to receive information about sales and coupons.
- Interactive elements like expiration reminders in mobile wallet passes would boost coupon redemption rates.
- Millennials and higher-income households show the most desire and promise for mobile wallet usage.
The document summarizes survey results regarding consumer preferences and usage of banking and e-wallet apps in Indonesia. It finds that mobile banking apps like BCA mobile and BRI mobile are most popular, while GoPay and Dana are the leading e-wallet apps. Most users appreciate banking and e-wallet apps for being hassle-free, time efficient, and easy to use. Common transaction purposes include topping up other apps, e-commerce purchases, and funds transfers. Mobile banking and e-wallets are used multiple times per week on average, and usage is expected to increase in the future.
#TDC18 - MetaPack - eCommerce - The three year review from MetaPackMetaPack
The three year review from MetaPack. Learn more about MetaPack's The Delivery Conference 2018 (#TDC18) at the event website https://www.thedeliveryconference.com.
Consumer Behavior, Forecasts and What This Means for Your Mobile RoadmapMichael McEvoy
The document summarizes survey results from 240 banks and credit unions regarding 1,527 mobile banking users. It finds that 74% of mobile banking users surveyed would not likely switch banks in the next 2 years. 72% of mobile banking customers check in at least once a week. 70% of mobile banking customers place high importance on a bank's mobile offering when choosing a bank. The document recommends banks improve the customer experience on mobile banking to help increase adoption and generate potential revenue.
The document summarizes bux.com's end-to-end mobile payment solution that allows unbanked and underbanked users to make online and mobile payments without a bank account or credit card. It offers virtual accounts, prepaid debit cards, money transfers, bill payments, mobile top-ups, and e-commerce purchases. The solution aims to bring the cash economy online and provide access to digital financial services for hundreds of millions of underserved users globally.
This document summarizes the key findings from the Eighth Annual Consumer Billing Household Survey conducted by Fiserv. The survey found that consumers expect speed, security, and satisfaction from bill payment options. Speed and security are important decision drivers, while satisfaction is the ultimate outcome. The survey also found that consumers use an average of 3.6 payment methods per month, up from 2.9 a year ago. Mobile and online bill payment options are growing significantly. Security concerns among consumers are also increasing. Consumers expect billers to offer a variety of payment options on their own terms to increase satisfaction.
Gen Z and Millennial Debit Card Use Survey.pdfMedia Logic
Expanded debit card use scenarios – such as peer-to-peer payments (P2P), recurring subscriptions, rent payments and more – are creating new opportunities for debit card issuers to engage with their customers.
To compete for this customer engagement, issuers must understand the evolving trends, like those captured in our recent consumer survey.
We asked Millennial and Gen Z consumers a series of questions to understand the sentiments, attitudes, current usage patterns and factors impacting the novel use of debit cards.
Our report includes the results, along with financial services marketing implications.
Smarter Loans Study - The State of Alternative Lending in Canada 2019Smarter_Loans
As Canada’s alternative lending industry continues to mature
Canadians are gradually becoming more comfortable
utilizing its services.
According to Smarter Loans’ “State of Alternative Lending
in Canada” 2019 Study, which gathered the feedback of
2,415 Canadian alternative lending customers, many of the
country’s providers continue to receive top marks for their
services.
Link to the study: https://smarter.loans/smarter-loans-alternative-lending-canada-study-2019.pdf
Southeast Asian consumers are increasingly adopting cashless payment methods like mobile wallets, contactless cards, and QR code payments. Usage of these digital payment options grew during the COVID-19 pandemic as consumers sought safer and more convenient payment experiences. Mobile wallets saw the highest number of new users, while contactless cards and mobile contactless payments also increased in popularity. Awareness and interest in these cashless methods remains high, particularly for contactless cards, indicating further growth potential.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
2. FOREWORD
Financial services are changing dramatically and so are payments.
Technology and innovative thinking are enabling tremendous opportunities,
especially in retail payments. Cash and cheques are declining, but more
slowly than we would expect. This is because our payment systems in
Canada have served us relatively well, but our core national payments
infrastructure still needs to be modernized.
In 2016 we developed a vision for a modern payment system that is fast,
flexible and secure, promotes innovation and strengthens Canada's
competitive position. We also published a roadmap for change, and are well
into its implementation. Financial institutions, governments and
stakeholders are all engaged and motivated to make this a success for
Canada.
As we progress through Modernization, it is important to regularly take the
pulse on the attitudes and behaviours of Canadians regarding the increasing
digitization of payment transactions. What is their level of adoption to date?
How do they feel about moving towards a more “paperless” payments
system? In the context of wider technological innovations, how safe and
secure do they feel about new innovations in payments?
As the following Payments Pulse Survey reveals, adoption rates of new
technologies may remain low, but endorsement from early adopters,
openness to change and high anticipation suggest a shift is on the way.
Gerry Gaetz
CEO, Payments Canada
3. METHODOLOGY
QUANTITATIVE RESEARCH
INSTRUMENT
A survey of 1507 Canadianswas completed online
between March 23rd to April 2nd, 2017 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 475,000
members nationally – with between 10,000 and
20,000 new members added each month, 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.
5. KEY FINDINGS
61%
of Canadians like the idea of
change
42%
Of Canadiansare excited about
the future of e-walletsand e-
payments
Have already deposited a cheque using camera or mobile
app:
Yes
27%
No
72% find this to be convenient
97%
Have already uploaded e wallet since it launched in Canada:
Yes
13%No
86% find e-wallet convenient83%
Already store credit card information with app or ecommerce
site:
Yes
41%
No
56%
Are confident that their
credit card information is
secure90%
48% Willing to give up privacy for more
convenient payment methods
Canadians want highly convenient electronic payments
accessible through the internet or your mobile device:
50%
66%
willing to give up cash and coins
willing to give up cheques
27% Willing to pay for more convenient
payment methods
7. When it comes to openness to change, six-in-ten (61%) Canadians like change when
it comes to their daily routine.
Which of the following best describes your
openness to change when it comes to your
daily routine?
11%
50%
34%
4%
2%
I strongly like change
I somewhat like change
I somewhat dislike
change
I strongly dislike change
I don’t know /
I prefer not to answer
Like
change:
61%
55%
58%
66%
University-
Educated
College
High School
Education
Dislike
change:
38%
OPENNESS TO CHANGE
8. FEELING ANXIOUS OR EXCITED ABOUT FUTURE INNOVATIONS
To what extent to do you feel excited or
anxious when it comes to the following:
22%
25%
26%
18%
14%
7%
35%
31%
29%
34%
36%
20%
28%
25%
27%
32%
29%
45%
7%
12%
13%
9%
12%
18%
Very anxious
Somewhat anxious
Don’t know / Prefer not to answer
Somewhat excited
Very excited
Artificially intelligent robotic
workforce
Driverless cities and
highways
Self-driving cars
Artificially intelligent robots
e-wallets and e-payments
Connecting via virtual or
augmented reality to friends
and loved ones
57%
56%
55%
52%
50%
27%
35%
37%
41%
41%
42%
63%
% Excited
%
Anxious
47% vs 31%
49% vs 39%
77% vs 59%
Quebec vs rest of Canada
9. STORING PERSONAL CREDIT CARD INFORMATION WITH A
MOBILE APP OR ONLINE ECOMMERCE SITE
Four-in-ten (41%) Canadians store personal credit card information on a mobile app
or an online ecommerce site. Nearly all (90%) feel confident that the app or service
provider they use will ensure the security of their credit card information.
Do you store personal credit card information
with a mobile app or online ecommerce site?
90%
Yes 37%
38%
48%
Education
Age
University-
Educated
College
High School
Yes
41%
No
56%
57%
51%
37%
31%
22%
18-34 35-44 45-54 55-64 65+
feel confident that the
app or service provider
you used will ensure
the security and privacy
of your personal credit
card information
10. UPLOADING E-WALLET APP SINCE CANADIAN LAUNCH
More than one-in-ten (13%) Canadians have uploaded an e-wallet app since it has
launched in Canada.
Do you store personal credit card
information with a mobile app or online
ecommerce site?
Yes
13%No
86%
83%
Yes
12%
Find the
e-wallet
convenient
Find the
e-wallet
inconvenient
51%
45%
33%
22%
11%
3%
Not able to make a payment
successfully with e-wallet
/Option wasn’t available
Having to get the app
ready for purchases
Easier to just use
contactless cards
The e-wallet is frequently
unable to complete my
payment
Managing cards on
the e-wallet
Don't know /
Prefer not to answer
What do you find inconvenient about the
e-wallet experience?*
19% 19%
12% 8% 4%
18-34 35-44 45-54 55-64 65+
Yes
Age
11. DEPOSITING CHEQUES WITH SMARTPHONE CAMERA AND
BANKING APP
Roughly one-quarter (27%) of Canadians have deposited a cheque using their
smartphone’s camera and mobile banking app. Nearly all (97%) find it to be
convenient.
Yes
27%
No
72%
Yes
18-34 35-44 45-54 55-64 65+
Age
Yes
97%
find depositing a cheque
using their smartphone’s
camera and mobile banking
app to be convenient
44%
34%
25%
16%
10%
24% vs 31%
Have you deposited a cheque using your
smartphone’s camera and mobile banking
app?
12. WILLINGNESS TO GIVE UP PRIVACY FOR MORE CONVENIENT
PAYMENT METHODS
How willing are you to give up some degree
of privacy for more convenient payment
methods?
Canadians have been willing to give up some level of privacy for convenience.
We’ve done it with the growth of smartphones, tablets and mobile apps.
Canadians are split when it comes to their willingness to
give up some level of privacy for convenient payment
systems, with 48% say they are willing and 49% say they
are not willing to give up privacy.
6%
42%
35%
14%
3%
Very willing
Somewhat willing
Not very willing
Not at all willing
I don’t know /
I prefer not to answer
Willing:
48%
Not
willing:
49%
18-34 35-44 45-54 55-64 65+
Age
Age
40% vs 51%
<$40K $40K-
$59K
$60K-
$79K
$80K-
$99K
$100K
+
56% vs 45%
Income
Willing
62%
54%
40% 46%
34%
47% 48% 47% 45%
60%
13. CASH USED IN A TYPICAL MONTH
On average Canadians use cash roughly 20 times a month totaling slightly more than
$200 per month. Canadians, who do use cash transactions, are split on whether they
would move away from cash to use a more convenient electronic payment method,
with 50% saying they would be willing to do this.
Approximately how much cash do you
use in a typical month?
15%
35%
32%
17%
1%
Very willing
Somewhat willing
Not very willing
Not at all willing
I don’t know /
I prefer not to answer
Willing:
50%
Not
willing:
49%
How willing are you to move completely away from using cash
and coins to highly convenient electronic payments accessible
through your mobile device?
Number of cash
transactions per
month:
Value of cash
transactions per
month:
Average
22
Transactions/
month
$220
/month
14. NUMBER OF CHEQUES WRITTEN IN A MONTH
On average, Canadians are writing 3 cheques a month, totaling roughly $250.
However, four-in-ten (43%) are writing zero cheques a month.
Approximately how much cash do you
use in a typical month?
Number of
cheques written
per month:
Value of cheques
written per
month:
Average
3
cheques/
month
$245
/month
26%
40%
18%
14%
2%
Very willing
Somewhat willing
Not very willing
Not at all willing
I don’t know /
I prefer not to answer
Willing:
66%
Not
willing:
32%
How willing are you to move completely away from using
cheques for highly convenient electronic payments
accessible through the internet or your mobile device?
15. WILLINGNESS TO PAY PER TRANSACTION AND NOT USE
CASH OR CHEQUES FOR ELECTRONIC PAYMENTS
Roughly one-quarter (27%) of Canadians would be willing to pay per transaction to
not have to use cash or cheques, and use an electronic payment that is accessible
through the internet or mobile advice.
To what extent would you be willing to pay per transaction to not
have to use cash or cheques, and use an electronic payment
accessible through the internet or your mobile device?
8%
19%
30%
40%
3%
Not
willing:
70%
Willing:
27%
41% vs 23%25% vs 30% 33% vs 25%
I would be very willing to
pay for that convenience
I would be somewhat
willing to pay for that
convenience
I would not be very
willing to pay for that
convenience
I would not be at all
willing to pay for that
convenience
I don’t know / I prefer not
to answer
16. PERCENTAGE OF SHOPPING DONE ONLINE
On average, Canadians do one-fifth (19%) of their shopping online.
What percentage of your shopping do
you do online?
% of shopping
done online:
Average
19% 18-34 35-44 45-54 55-64 65+
Age
Age
18% vs 21%
25% vs 17%
<$40K $40K-
$59K
$60K-
$79K
$80K-
$99K
$100K
+
Income
18% 16% 20% 20% 24%
30% 25%
17% 12% 8%
17. COMFORTABLENESS WITH SOMEONE ELSE DEPOSITING
MONEY INTO YOUR ACCOUNT WITHOUT A CONFIRMATION
17%
33%
26%
22%
3%
I would be very comfortable
with such a service
I would be somewhat
comfortable with such a
service
I would not be very
comfortable with such a
service
I would not be comfortable
at all be with such a
service
I don’t know / I prefer not to
answer
Comfortable:
50%
Not
Comfortable:
47%
39% vs 58%
Canadians are split on whether
they would be comfortable with a
person / company depositing
money into their account without
consent, with 50% saying they
would be comfortable and 47%
saying they would not be
comfortable.
Men are significantly more likely
than women (58% vs 39%) to be
comfortable.
Would you be comfortable with a person or company
depositing money into your account without the need
for you to confirm or consent to the transaction?
19. 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 technologies, bylaws, rules and standards. The value of
payments cleared and settled by Payments Canada in 2016 was C$51 trillion, or C$201
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.