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ARTICLE · 27 OCTOBER 2011

Digital Payment Systems In Canada - Expect More Regulations

Osler, Hoskin & Harcourt LLP
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Although Canada is one of the most advanced economies of the world, it is surprising (at least to some) that Canadian consumers are not very frequent users of mobile payment systems when compared to consumers in the U.K., Germany, Japan and a number of other developed and developing countries.

CanadaMedia, Telecoms, IT, Entertainment
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
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This post by Stephen D.A. Clark and Kashif Zaman was originally published as an E-Review available at www.osler.com.

Digital Payments in Canada

Although Canada is one of the most advanced economies of the world, it is surprising (at least to some) that Canadian consumers are not very frequent users of mobile payment systems when compared to consumers in the U.K., Germany, Japan and a number of other developed and developing countries. At the same time, Canada is one of the fastest growing smartphone nations (over 70% of Canadians have mobile phones; 35% of these are smartphones). Canadians are therefore poised to take advantage of the mobile payment systems that are expected to grow in importance and usage in the near future (some of the mobile payments systems currently being used by Canadians include Zoompass and Presto). Perhaps recognizing this trend, on June 18, 2010, the Minister of Finance announced the formation of the Task Force for the Payments System

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