Tag: canada

Google report predicts bright future for mobile commerce

| August 1, 2013

Mobile commerce may thrive as more consumers get their hands on smartphones

Canadians are becoming more reliant on their smartphones, according to a new report from Google, called “Our Mobile Planet: Canada.” Smartphones have established themselves as a powerful tool for many consumers who use them for business and entertainment. These devices have grown in popularity because they offer many services in a single platform that could only be found in numerous platforms in the past. The report shows that Canadians are more likely to throw away their televisions than part with their smartphones, and this could be a good sign for mobile commerce.

Smartphones continue to gain popularity among consumers

Smartphones initially became popular because they streamlined social interaction and provided consumers with access to a multitude of applications, which themselves made certain tasks more efficient and convenient for users. Today, smartphones and their features are very common and many consumers have become numb to the features they have become accustomed to using on a daily basis. Mobile commerce has managed to rekindle some of the excitement that smartphones had once embodied and many consumers are showing a great deal of interest in shopping online and paying for products with their mobile device.

Google Mobile Commerce Report - Canadians and smartphonesReport shows that more consumers are participating in mobile commerce

According to Google’s report, approximately 56% of the Canadian population uses a smartphone, with eight in 10 of these consumers claiming they would never leave home without their mobile device. The report shows that most smartphones are used for social media and entertainment, but a growing number of consumers are using their smartphones to shop online. Currently, three-quarters of Canadian smartphone users have used their mobile device to shop online, with 27% purchasing a product using their device. Approximately half of consumers make an online purchase with their mobile device at least once a month.

Despite smartphone adoption, mobile commerce sees modest growth

The report shows that smartphone ownership is on the rise in Canada. This is likely to have a significant impact on mobile commerce in the future as more people with smartphones will take to shopping online. Canada is currently home to several mobile commerce initiatives that are looking to encourage consumers to purchase products with their mobile devices. So far, however, mobile commerce has only experience slow growth throughout the country.

Mobile payments take the limelight in Canada

| March 30, 2013

RBC Mobile PaymentsFinancial institutions becoming more invested in mobile payments

Financial institutions all over the world are becoming more interested in the concept of mobile payments. As consumers become more reliant on their smartphones and tablets, they are looking for new, more convenient ways to make purchases. Nearly everything that consumers do these days has some tie to the mobile world, making it more important for companies, like financial institutions, to cater to the demands of mobile consumers in order to remain relevant in a world that is changing around them.

Royal Bank of Canada takes a swing at mobile commerce

The Royal Bank of Canada has become one of the latest major financial institutions to begin embracing mobile payments. The organization has announced its entry into  the mobile commerce arena this week with the demonstration of a new touch-free transaction system designed for smartphones. The system, which is linked to a new application call Interac, makes use of NFC technology to allow consumers to purchase goods and services. The use of NFC technology allows a smartphone to be used as a payment platform without having to make actual physical contact with anything, as the technology transmits data over a short distance.

NFC continues to worry consumers

NFC technology has been a staple in mobile payments for some time, but many consumers are becoming increasingly wary of the technology. NFC has been linked to several security risks in the past and can be exploited to gain access to a consumer’s financial information. A growing number of companies interested in mobile commerce are choosing to forgo NFC in favor of simple mobile payments applications or, in some cases, the use of QR codes to activate mobile transactions.

Security may not be a problem with Interac application

The Royal Bank of Canada has taken note of the security concerns that consumers have in regards to their financial information and NFC technology. Interac features numerous security measures that are closely tied to the financial institution’s own security systems. The application is considered safe enough to use for mobile payments and if the Royal Bank of Canada can placate the fears of consumers, it may be able to beat out the competition it has in the Canadian mobile commerce sector.