Canadians adopting mobile payment options
Merchants in the Canadian retail industry could soon be seeing more customers demanding the option to use mobile payments at the point of sale.
A recent survey by the Canadian Wireless Telecommunications Association found that mobile banking and payment activities are increasingly being adopted by citizens, with 22 percent of smartphone users – who represent nearly half of mobile phone users – saying that they conduct some of their payment transactions and banking via their phones. For smartphone owners between the age of 18 and 34, the rate is significantly higher, at 30 percent.
Two-dimensional barcodes also generated interest among Canadians, with 45 percent of them saying they were aware of the barcode technology, with product barcodes being the most-frequently scanned item.
Those involved in the Canadian retail industry can begin accepting mobile payments by integrating the technology with their existing point-of-sale terminals. Selectcore, a provider of transaction processing solutions for those in the telecom and financial services sector, recently launched its patent-pending ReCash, which allows customers to reload their prepaid MasterCards or Visa cards at the point of sale without the merchant having to invest in additional hardware.
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