A New Opportunity for Businesses to Give Customers More Payment Options

December 10, 2019

Canadians are increasingly embracing mobile payments, foregoing traditional physical cards when making purchases. According to Canada Mobile Payment Users 2019, a report by emarketer.com, there will be 6.8 million mobile payment users in Canada by the end of 2019, or 21% of the population, up 13.1% from 2018. These numbers make it clear that mobile payments are an essential part of the customer experience and a great opportunity for businesses to provide more payment options.

Additional payment options are important, both in-store and online, as mobile becomes more and more integrated into our lives. And since Canadians like to shop on their phones, engaging with them through mobile keeps the experience relevant to them.

The Three S’s: Simplicity, Speed, Security

Since shoppers want the three S’s when making mobile purchases, more merchants are offering Interac® Debit for In-App and In-Browser Payments with Apple Pay® and Google PayTM. It was recently announced that this option is widely available in Canada. It lets shoppers pay directly from their bank accounts via their mobile wallets when making purchases in merchant apps and on websites, and provides merchants with real-time payments without chargebacks. Plus, it’s an easy way for businesses of all sizes to create a seamless payment experience for their customers.

Buy-now-pay-now Holiday Shopping

The holidays are almost here, and that means more customers, more sales, and more payments to process.

Debit payments help shoppers stay on top of holiday spending by enabling them to use their own money for purchases. This buy-now-pay-now option is a great way for Canadians to be in the black over the holidays, and throughout the year.

For merchants, accepting debit is like offering a money-management tool for staying on budget during a time of big spending. And offering it for in-app and in-browser payments via mobile wallets makes it easy for shoppers to make purchases whenever they want, wherever they are.

Secure and Private Transactions for Customers

When customers add their Interac debit card to Apple Pay or Google Pay wallets, their debit card number is converted into a unique device account number (token) after the card issuer has established their identity. The token is then used for payments. This means customers can make purchases confidently knowing their personal financial information is never shared. And it’s an opportunity for businesses to offer a secure and private payment option to shoppers.

Our Worth-reading List

Want to keep reading about ecommerce solutions, plus the benefits of having an online store? Check out Ecommerce Solutions You Can Implement On Your Own and Is the Investment in An Online Store Worth It?. And if you’re interested in last year’s holiday spending trends, be sure to read What We Learned From Holiday Shopping Season 2018.

INTERAC is a registered trademark of Interac Corp. Used under licence. APPLE PAY is a trademark of Apple Inc. registered in the U.S. and other countries. GOOGLE PAY is a trademark of Google LLC.

The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed.

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