June 15 , 2012

More than 70 percent of Canadians ready to go “cashless”

TORONTO, ONTARIO-- The idea of living in a cashless society is gaining considerable momentum in Canada. A new online survey conducted on behalf of PayPal Canada by Leger Marketing shows that 71 percent of Canadians are comfortable with never having to handle cash to make a purchase, up 27 percent from 2011. In fact, many Canadians are already embracing this shift – 25 percent of survey respondents say they go more than a week without using cash. The Leger Marketing survey was completed online from May 28th, to May 31st, 2012 with a sample of 1500 Canadians aged 18+.

“The growth we’re seeing in Canadians’ eagerness to go cashless is significant,” said Darrell MacMullin, managing director, PayPal Canada, an online payment service that allows members to send money without sharing financial information. “In Canada, 2012 marks the year that we’ve moved well beyond the tipping point towards embracing a digital future. Canadians understand that a digital wallet can be a safer and smarter way to pay and get paid.”

More than four million Canadians use PayPal to pay and get paid using their bank account, credit cards and PayPal balance from their computer, smartphone or virtually any Internet-connected device. PayPal doesn’t store personal or financial details on any device, or share details such as a credit card number, bank account number or PayPal balance with merchants.

Many Canadians have expressed concerns about the security of mobile payments. Another recent survey conducted by Ipsos Reid on behalf of PayPal Canada revealed that 43 percent of Canadian smartphone users don’t trust that their mobile phone applications and hardware will keep their personal details safe and secure, and 80 percent are concerned about financial privacy and sharing personal or credit card details when making mobile purchases and transactions.For this survey, a sample of 1,012 adults with a smartphone from Ipsos' Canadian online panel was interviewed online.




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