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Convergence, collaboration and customer data

The changing face of Canada’s mobile payments market

Convergence, collaboration and customer data


The payments ecosystem is changing and new entrants are challenging financial institutions for their traditional place in the payments value chain. As consumer preferences also shift, there is a growing global trend of using smartphones, handheld tablets and other devices for payments. Stakeholders, old and new, are now required to evaluate their strategic options for mobile payments, and work in a collaborative manner in order to realize benefits and opportunities from mobile payments.

Technological innovation has long been difficult to pre-empt and even harder to predict, as discussed in our earlier report, Dialing in: the future of mobile payments. Succeeding in this uncertain market will require companies to provide customers with add-on features such as couponing and loyalty programs, in addition to the basic payments functionality, which will slowly become table stakes.

To help better position yourself for this opportunity and capitalize on this market, Deloitte has prepared a report entitled Dialing in: Convergence, collaboration and customer data – the changing face of Canada’s mobile payment market. This paper provides implications of the changing payments ecosystem for each key stakeholder and predictions on the future of the mobile payments industry in Canada.

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Financial services

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