Report: Mobile Payments on Upswing Among Millennial and Affluent Canadians

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Oct 07, 2014, 11:13 ET

ROCKVILLE, Md., Oct. 7, 2014 /PRNewswire/ -- Mobile payments are on the rise in Canada, especially among Millennials and those living in affluent households, according to Mobile and Alternative Payments in Canada, 2nd Edition, a recent report by market research publisher Packaged Facts.

The report can be found at: http://www.packagedfacts.com/redirect.asp?progid=86722&productid=8103777. Packaged Facts defines mobile payments in the report as purchases, bill payments, donations, payments to another person, or any other payments made using a mobile phone.

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Research reveals that roughly 26% of Canadian mobile phone users have made a mobile payment in past 12 months, up from the 17% cited in Packaged Facts' previous August 2012 survey. Usage penetration is highest among 18-34s (more than 39%), urban dwellers (30%), residents of Québec (30%), and $100K+ household income consumers (30%). Millennials (especially 18-24s) and younger Gen Xers lead adoption of browser- and app-based methods, while mobile phone users with $100K+ household incomes are most apt to scan barcodes to make payments.

In a typical month, mobile payers (who have made a mobile payment in past 12 months) use their mobile phone to make a payment about four times per month, notes Packaged Facts research director David Sprinkle. This is up from 2.5 mean monthly transactions reported in 2012.

For more information on Mobile and Alternative Payments in Canada, 2nd Edition and other reports in Packaged Facts' industry-leading catalog of financial services market research reports, please visit: http://www.packagedfacts.com/.

About Packaged Facts – Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods, and pet products and services. Packaged Facts also offers a full range of custom research services.

Please visit Packaged Facts on LinkedIn, Twitter and Google+ for more insights.

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SOURCE Packaged Facts