According to the report, in this market the issue comes down to the method of payment. Despite Canada’s solid contactless point-of-sale base, there are significant challenges for NFC-based mobile payments. However, mobile P2P has already taken hold and it is expected that mobile P2P will continue to lead Canadian mobile payments growth. Additionally, while QR code awareness is low, mobile payers are twice as likely to use a barcode scanning apps during the next 12 months than during the last 12 months. The report has also predicted that the Canadian e-wallet and electronic P2P payments will grow at a compound annual growth rate of 62 percent in 2012-2015 interval.
The report was issued by RNR Market Research firm which provides detailed business market research reports as well as industry analysis reports.
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