Massive jump in Canadians' acceptance of cashless future, PayPal survey
TORONTO, June 13, 2012 /CNW/ - The idea of living in a cashless society
is gaining considerable momentum in Canada. A new survey conducted on
behalf of PayPal Canada by Leger Marketing shows that 71 per cent of Canadians are comfortable with never having to handle cash to make a purchase, up
27 per cent from 2011. In fact, many Canadians are already embracing
this shift - a full quarter (25 per cent) of survey respondents go more than a week without using cash.
"The growth we're seeing in Canadians' eagerness to go cashless is
significant," said Darrell MacMullin, managing director, PayPal Canada.
"In Canada, 2012 marks the year that we've moved well beyond the
tipping point towards embracing a digital future. Canadians understand
that a digital wallet can be a safer and smarter way to pay and get
More than four million Canadians already have PayPal accounts which
enable them to go cashless today, by offering a safer and more secure
digital wallet service. Canadians already use PayPal to pay and get
paid using their bank account, credit cards and PayPal balance from
their computer, smartphone or virtually any Internet-connected device.
Canadian's can also rely on PayPal's mobile app to help manage their
money on the go. According to the survey, 56 per cent of Canadians are more likely to forgive and forget when someone owes them money for
an everyday purchase, rather than follow-up about it. The "request money" feature on PayPal's app is an easy way to ask a friend or group of
people for the money that is owed. Similarly, the app's "send money" feature is perfect for people that don't like the idea of owing anyone
money - more than half (54 per cent) of survey respondents pay back small debts immediately. With PayPal
sending money to friends and family in Canada is free if the transfer
is funded by a PayPal balance or bank account.
PayPal is the safer way to pay and get paid on mobile devices - security
and privacy are built into the service. PayPal doesn't store personal
or financial details on any device, and never shares details such as a
credit card number, bank account number or PayPal balance with
merchants. All transactions take place in PayPal's secure environment.
PayPal's secure approach to mobile payments is important to making a
cashless future a reality in Canada, as many Canadians have expressed
concerns about the security of mobile payments. Results from a recent
survey conducted by Ipsos Reid on behalf of PayPal Canada reveal that 43 per cent of Canadian smartphone users don't trust that their mobile phone
applications and hardware will keep their personal details safe and
secure, and 80 per cent are concerned about financial privacy and sharing personal or credit
card details when making mobile purchases and transactions.
PayPal's mobile app is free to download and is available for iPhone™,
BlackBerry® and Android™ smartphones. Visit www.paypal.ca for more information.
Leger Marketing methodology
The survey was completed online from May 28th, to May 31st, 2012 using Leger Marketing's online panel, LegerWeb, with a sample of 1500 Canadians aged 18+.
A probability sample of the same size would yield a margin of error of
±2.5%, 19 times out of 20.
Ipsos Reid methodology:
These are some of the findings of an Ipsos Reid poll conducted between
January 27 to February 1, 2012, conducted on behalf of PayPal. For this
survey, a sample of 1,012 adults with a smartphone from Ipsos' Canadian
online panel was interviewed online. Weighting was then employed to
balance demographics to ensure that the sample's composition reflects
that of the adult population according to Census data and to provide
results intended to approximate the sample universe. A survey with an
unweighted probability sample of this size and a 100% response rate
would have an estimated margin of error of +/- 3.1 percentage points,
19 times out of 20, of what the results would have been had the entire
population of smartphone owners in Canada been polled. All sample
surveys and polls may be subject to other sources of error, including,
but not limited to coverage error and measurement error.
PayPal is the faster, safer way to pay and get paid online. The service
allows members to send money without sharing financial information,
with the flexibility to pay using their account balances, bank accounts
or credit cards. With more than 110 million active accounts in 190
markets and 25 currencies around the globe, PayPal enables global
ecommerce. PayPal is an eBay company. The company's open payment
platform, x.commerce , allows developers to build innovative payment
applications on multiple platforms and devices. More information about
the company can be found at http://www.PayPal.ca
SOURCE PayPal Canada
For further information:
Kieran Lawler/Scott Taber
Kieran.firstname.lastname@example.org / Scott.Taber@mediaprofile.com
416-342-1823 / 416-342-1840