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BizReport : Mobile Marketing : July 31, 2017

What mobile payments expansion means for merchants

AndroidPay has launched in Canada, and with the expansion many merchants are wondering just what these expanded mobile payments options mean for them. Here is what one expert has to say.

by Kristina Knight

Kristina: Android Pay has launched in Canada-what does this mean for digital merchants?

Daniel Kornitzer, Chief Product Officer, Paysafe: Consumers embrace familiarity. This bodes well for Android - the leading mobile OS in the Canadian smartphone market - given Android Pay supports all major credit cards domestic consumers are acquainted with. The convenience of Android Pay, coupled with user familiarity, has the potential to persuade more domestic consumers to embrace mobile payments upwards from the current 33 percent of the Canadian population, thus increasing digital merchants' revenue.

In addition, Android Pay allows digital merchants to offer consumers peace of mind in the security of their online payments and gives mobile wallets a competitive edge over contactless cards. With 60 per cent of global transactions confirmed as fraud originate from a mobile device, Android Pay provides a significant level of reassurance to digital merchants and security-wary consumers through its varied authentication methods. Most importantly, Android Pay doesn't share customer credit or debit card numbers with the merchant when a customer pays in store or in-app, but rather uses a virtual account number to represent the customer's card instead.

Kristina: What about for merchants with physical stores?

Daniel: The availability of Android Pay in Canada means traditional brick and mortar outlets in the region can also offer digitally-enabled shopping experiences, empowering them to meet the increasing expectations of its mobile-savvy consumers. In turn, it helps keep brick and mortar relevant.

Kristina: What do merchants need to do to reach consumers who want to use this payment option?

Daniel: Consumers want to make their purchases online within a secure and simple user-interface via as few clicks as possible. In a competitive market, mindful of the $39 billion expected to be spent online by Canadians by 2019, being able to offer a seamless omni-channel experience with Android Pay is key for merchants looking to reach Canada's large population of Android users.

Tags: Android Pay, ecommerce, mobile commerce, mobile marketing, mobile payments, PaySafe

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