November 2, 2012

CIBC Poll: Smartphone growth surging as mobile payments set to arrive in Canadian marketplace

TORONTO-- A new CIBC poll conducted by Harris/Decima shows that smartphone ownership and mobile banking usage continues to grow in Canada, and there is a strong interest in new services such as mobile payments, which will allow Canadians to make credit card purchases using their smartphone.

Key poll findings include:

  • 44 per cent of Canadians surveyed now own a smartphone, up from 33 per cent in a similar Harris/Decima poll conducted for CIBC in 2011

  • While younger Canadians between 18-24 years of age are more likely to own a smartphone (77 per cent), ownership numbers were strong in other demographics, including the bottom edge of baby boomers between 45-54 years of age (43 per cent)

Among smartphone owners:

  • 47 per cent of Canadians with smartphones would consider using it to make mobile payments to their credit card if they could

  • 36 per cent have used their smartphones for mobile banking, up from 25 per cent in 201

  • 51 per cent between 25-34 years of age said they would consider mobile payments

  • 48 per cent in the 45-54 age group said the same.

  • 59 per cent said rewards for credit card purchases are important to them in deciding to use mobile payments.

"Canadians are ready to start paying for everyday items using their mobile device, but they want all of the benefits and rewards they've come to expect from their credit card," commented David Williamson, Senior Executive Vice-President and Group Head, Retail and Business Banking, CIBC. "In bringing our mobile payment solution to market together with Rogers, we have focused on retaining these benefits while adding the convenience of having your credit card available through your smartphone."

In May 2012, CIBC and Rogers announced Canada's first agreement between a bank and a wireless carrier to offer a mobile payments solution to Canadians.

"Mobile payments are set to take off in Canada," said David Robinson, Vice-President of Emerging Business, Rogers Communications.  "Today we are seeing firsthand how the experience is convenient, seamless and secure. By storing credit card credentials on a secure SIM card in NFC-enabled smartphones, together with CIBC we will be first to provide Canadians with a solution that is easy to use and provides peace of mind when making mobile payments."

National Results: Results are based on a CIBC poll conducted by Harris/Decima, via teleVox, their telephone omnibus solution. These data were gathered in a sample of 2,026 Canadians between July 12th and July 22nd, 2012. A sample of this size has a national margin of error of +/-2.2%, 19 times out of 20.

Smartphone users: Results are based on a CIBC poll conducted by Harris/Decima, via teleVox, their telephone omnibus solution. These data were gathered in a sample of 899 Canadian Smartphone users between July 12th and July 22nd, 2012. A sample of this size has a national margin of error of +/-3.3%, 19 times out of 20.

 

 

 


 

 

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