Mobile payments: The past, present and future

By Farah Momen  |  February 15, 2017

Mobile payments: The past, present and future

The end-to-end payment experience has completely transformed over the last decade. By the year 2030, it is predicted that cash purchases will represent just 10% of the money spent in Canada.

MaRS Market Intelligence has created a report that examines the landscape of mobile payments, analyzing technology trends across Canada and the world to better understand the roadblocks and opportunities for entrepreneurs and institutions. Simply fill in your details below to receive a copy of the report.

Venture capitalists in Canadian fintech: The first half of 2016 was the best six-month stretch for VC investments in Canadian fintech over the past two years. There were 11 VC deals in Canada, totaling $88.8 million, with more than 55% of investment occurring in the first quarter of 2016. Top venture capitalists in fintech in 2015 - Canada: BDC Venture Capital (1), OMERS Ventures (2), Real Ventures (2), Bain Capital Ventures (3), Blumberg Capital (3), Accel Partners (3), American Express Ventures (3).

Some of the key trends and insights you will get include:

  • A summary of recent investment activity within fintech in North America and Canada (2014 – 2016).
  • An overview of the barriers to mobile payment tech adoption, and the need for more seamless user experiences.
  • How the rise of Samsung Pay and Android Pay will affect the current leaders in the Canadian mobile payment landscape.
  • A look at the battle for proximity-based mobile payments between Near Field Communication (NFC) and Bluetooth Low Energy (BLE)
  • A global case study of FeliCa in Japan that examines mobile payment opportunities worldwide, and the growing pains that come with them.

Looking backwards and ahead — within Canada and beyond — it’s abundantly clear that startups will increasingly need to differentiate themselves from tech giants. Canadian ventures in the MaRS community — like Mobeewave and SelfPay — are actively navigating these realities and 2017 will be an important year for them to rise above the global competition.