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Dialing in: The future of mobile payments in Canada

Strategies to prepare for a radical transformation in the financial services industry

Dialing in: The future of mobile payments in Canada


Although Canada is an established leader in payments technology, it is relatively immature when it comes to mobile payments. Countries like Japan and Kenya use their mobiles on a daily basis to pay for train fares or settle bills. While mobile-payment penetration in Canada remains low, we believe that change is coming. Mobile payments may soon become a reality in Canada – card networks are promoting contactless payments, financial institutions and mobile-network operators are actively pursuing mobile payments pilots and mobile technology is rapidly evolving.

The future role of financial institutions and mobile network operators (MNOs) is highly uncertain and difficult to predict. Global advancements in mobile payments will inevitably affect Canada – and stakeholders should prepare their organizations to take advantage of new revenue opportunities and protect existing market share.

To help better position your organization for the future, Deloitte has prepared a report entitled Dialing in: The future of mobile payments in Canada. This paper provides insights into the likely evolution of mobile payments within Canada, potential operating models, and considerations for how financial institutions and other stakeholders can assess their business needs and develop a sustainable business model to meet an increased demand for mobile payments.

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