Mobile proximity and peer-to-peer (P2P) payments have hit the mainstream, thanks to a pandemic-driven upswing in digital payments that is set to last. This trend is leading providers to diversify their offerings and compete for share of the market.
This comfort could make customers more likely to try mobile P2P, benefiting the Canadian P2P market overall. Rising Time Spent on Smartphones Could Drive Users to Mobile P2P. In Canada, nonvoice time spent on mobile devices is climbing, which should shift some financial services behavior—like banking and payments—from computers to smartphones.