During the current Christmas shopping season, payment processor Moneris is predicting that more than half of all transactions will be contactless.
Spokesperson Malcolm Fowler says the growing popularity of tap payments has made Canadians among the most payment-ready consumers in the world.
“Cards aren’t getting lost and people are very comfortable with these quick transactions. The card never leaves your hand, so in some ways you can think of it as almost safer,” he notes.
Fowler says banks which issue the cards provide protections for consumers in the event of fraud.
He adds making payments with your smartphone is gaining in popularity too thanks to Apple Pay, Android Pay and Samsung Pay.