Canadian mobile penetration and bank access have created a high-potential environment for both proximity and peer-to-peer mobile payments. But entrenched payment habits and monopolization have created a slow growth environment that will force providers to adapt.
Brick-and-mortar retail’s growth outpaced ecommerce for the fourth straight quarter in Q1. People are returning to in-person activities like dining out. Spending on food services and drinking places rose 25.4% YoY in the first four months of the year, per the US Commerce Department. But there are also warning signs that inflation is weighing on some consumers.