TORONTO, Sept. 20, 2016 /CNW/ – By 2030, cash purchases will make up only 10 per cent of money spent in Canada, according to a prediction by Moneris Solutions Corporation (“Moneris”), Canada’s leading credit and debit card processor. Compared to 35 per cent of overall transactions in 2014[1], the 70 per cent decline will coincide with an increase in the use of digital payment technologies, especially among younger Canadians. Consumer misconceptions about (1) the security of mobile wallets and (2) the ability of mobile wallets to digitally store physical wallet contents (including plastic loyalty cards and receipts), are among the factors slowing the transition.

Read more: http://tinyurl.com/hhfnl2c