Authors: John O'Brien, Aaron McPherson

Perspective
December, 2012  -  Doc # FIN238302
Number of Pages: 5

This IDC Financial Insights Perspective provides context around the current state of the Canadian mobile payments market. Globally, IDC Financial Insights expects mobile payments to exceed $1 trillion worldwide by 2017. According to the Bank of Canada's 2009 Methods-of-Payment survey, "Even though debit and credit cards account for close to 80 per cent of all transactions in terms of total value, cash is still the predominant payment method in terms of volume, accounting for 54 per cent of all transactions" (source: Carlos Arango, Dylan Hogg, and Alyssa Lee; Bank of Canada; www.bankofcanada.ca/wp-content/uploads/2012/02/dp2012-02.pdf).

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