Funds Canada Report: Rebound & Develop – Cost Strategies and Traits in 2021
Funds Canada | Oct 4, 2022
Canada experiences rebound in transaction quantity and worth in 2021
Report Highlights:
- Pandemic modifications long-term fee preferences for 43% of Canadians
- 50% of Canadians use e-commerce platforms extra typically than pre-pandemic
- Contactless fee transaction worth elevated year-over-year in 2021 by 18%
- Bank card use rebounded, growing by six per cent
- Cellular funds quantity and worth every grew by 13% year-over yr
- Money and cheques declined 9 per cent and 6 per cent respectively in quantity, however elevated 14% and 7 per cent in worth
See:
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- On-line switch transactions worth exceeded debit playing cards for the primary time ever in 2021
- Virtually one quarter (22%) of Canadians are snug making funds utilizing QR (fast response) codes
- 37% of Canadians are snug utilizing fingerprint, facial, or voice recognition to authenticate a fee transaction
- Purchase now, pay later (BNPL) is starting to take maintain with nearly 1 in 10 (eight per cent) of retailers accepting BNPL and 48% of retailers concerned about providing it
The brand new report reveals that whereas many fee traits stay constant in 2021, there’s continued acceleration in digital, contactless and cell fee adoption.
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