According to a new report from PayPal, Canadian consumers are ready to ditch their wallets in favour of mobile payments.
The company recently announced the findings of a multi-country survey, which was conducted on 15 countries including Canada. The survey was done to get an idea of how the relationship of money and technology have evolved over the past few years.
PayPal has made three major discoveries. They believe the majority of people (all over the world) waste up to four hours a day on simple tasks. The company wants to help simplify these tasks so that people can reclaim some hours in the day.
The Majority of People including Canadians Waste up to Four Hours a Day on Mundane Tasks; What Would People do with More Time?
Whether waiting in line to pay for things, commuting to and from work or sitting in traffic, enduring pointless meetings or calls, or simply running through the day’s errands, more than half of the world (56%), including Canadians, waste up to four hours each day that they would like help recapturing. Only Germany has a significant percentage (19%) of its population that professes being highly efficient and wasting no time.
While the fact that Canadians waste up to four hours on the days’ necessities may not be surprising, how each country would spend that time if given the chance varies from country to country. Nearly half of Canadians (49%) would choose to spend the time relaxing–likely at a cottage during the summer months – while Americans (53%) and Brazilians (50%) would spend more time with their friends and family.
PayPal also feels like they can use technology to simplify payments. They feel that technology could make the experience of making payments much faster and more enjoyable.
Technology Should Make Payments Simpler, Connected and Faster, with More Choices and Opportunities
Canadians are not alone when it comes to payment frustrations. People around the world agree that the time and hassle of making a payment are standing between them and their next purchase. Whether it’s the pain of waiting to pay in a store, annoyance at having to carry cash, frustration with lugging around a wallet, or other things standing between people and what they want, the world is ready for what PayPal delivers: the faster, safer way to pay and get paid.
People don’t like waiting around. The majority of Canadians (52%) would like to see a world without lineups.
Lastly, PayPal says that Canadians are ready to embrace mobile payments, ditching their wallets and replacing them with their smartphones.
Canadians Ready to Embrace Mobile
While keys lead the list of things people won’t leave the house without, the smartphone is just as important – beating cash and credit cards on a global scale. As they head out the door, twice as many Canadians are reaching for their mobile phone before their keys (30% versus 15%), making sure they never leave the house without it. This statistic confirms for businesses that figuring out mobile payments is key to future sales.
Canadians are more mobile savvy than others around the world, with the majority (56%) having used a mobile device for an online transaction. In comparison, less than half of Americans do the same. One in four Canadians is looking for an easier way to pay from their mobile device.
Do you feel ready to embrace mobile payments? Let us know in the comments below.