70% of Canadians ready to go cashless, claims PayPal survey

Moving beyond the tipping point towards embracing a digital future

A recent survey conducted on behalf of PayPal Canada by Leger Marketing claims that 71% of Canadians would be comfortable with never having to handle cash to make a purchase (view press release). This figure is up 27% from 2011. The survey also claims that 25% of the 1500 Canadians surveyed already spend periods of over a week without using cash.

The growth we’re seeing in Canadians’ eagerness to go cashless is significant,” said Darrell MacMullin, MD of PayPal Canada. “In Canada, 2012 marks the year we’ve moved well beyond the tipping point towards embracing a digital future.” 

PayPal goes on to say however that concerns about the security of mobile payments is still a principal hindrance to adoption. A recent study conducted by Ipsos on behalf of PayPal Canada claims that 43% of Canadian smartphone users don’t trust their mobile applications and hardware to keep their personal details secure. Up to 80% are concerned about financial privacy and sharing personal or credit card details when making mobile transactions.  

 

 

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