Canadian consumers are increasingly using smartphones for m-commerce, which ABI Research says reflects a worldwide trend.
ABI predicts that consumers worldwide will spend $119 billion via mobile transactions by 2015. Mercatus estimates that 9% of Canadians already have m-banking accounts and an additional 20% intend to start paying bills via mobile in the next year, all according to an article in the London Free Press.
The article states that PayPal anticipates a 100% increase in the number of Canadians with an m-banking account within the next year. In February, the Canadian Imperial Bank of Commerce launched a free m-banking iPhone app that permits users to check account balances, transfer funds, pay bills, and transmit email money transfers to Interac, the native Canadian card scheme.
IDC Canada analyst Rob Burbach is quoted saying that banks currently ensure their mobile apps the same way they do their online accounts, but this could become more difficult as technology evolves. He also believes that advanced digital wallets are at least three years away due security issues.