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Explain Why Canada's Current Landscape For E-Commerce And Mobile Payments Is Booming

375 Words2 Pages

1) Canada's current landscape for e-commerce and mobile payments is booming. Canada has not had the highest statistics when it comes to digital commerce, however, over the past few years retail spending online has been gradually rising. After reading an article by Canadian Business (http://www.canadianbusiness.com/innovation/canada-ecommerce-innovators/), it specifies that in 2014 only 6% of retail spending was online but the projected online retail spending for 2019 is 10%. To put these numbers into perspective in 2014 Canadian retail sales totaled $505 billion in 2014, as reported by Statistics Canada. This signifies that e-commerce and mobile payments are being utilized to shop repeatedly and that Canadian businesses are being forced to …show more content…

Technology-enabled shopping experiences are new services such as Ritual which allow consumers to skip lines at quick service restaurants, and JOIST HOME which enables them to find the right home improvement, professional contractor. Furthermore, improved payment processing platforms such as Tab Payments makes it simple and convenient to split and pay for bills at restaurants. Also, applications like Digital Retails Apps allows retailers that have the appropriate technology to process payments digitally which is both more secure and inexpensive. Correspondingly, according to https://www.emarketer.com/Article/Mobile-Payment-Users-Canada-More-Enthusiastic/1014152, smartphone users in Canada plan to use their mobile payment usage more often. Based on emarketer's article the percentage of respondents planning to use mobile payments increased from 26% to 33% from 2015 to 2016. In general, paying fees using mobile payments is getting popular and being used much more often. Overall, many millennials plan on using mobile payments more regularly in the next

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