Why we exist
Canada Mobile Payments invents intelligent financial technology & mobile commerce solutions where we deploy it with merchants services. The financial services sector generates over $50 billion a year for Canada’s GDP and contributes a combined $13 billion in fiscal benefits to all three levels of government.
Canada Mobile Payments offers growth-minded business leaders a real-time mobile commerce platform for connecting consumers with merchants. By delivering value and comprehensive insights for complex transactions, we enable merchants to be more responsive to the shopper.
The way we serve our clients, investors and teammates
- We believe teamwork and positive energy produce the best results.
- We focus on winning strategies, clarity of goals and flawless organization execution.
- We build trust through integrity, communication and collaboration.
- We seek to be regarded for our innovation, work ethic and extraordinary service.
- We hire and develop great leaders who build and empower great teams!
Mobile Payments Facts 2015
- Kenya is the world leader in mobile payments with 60% of population reach and $25B per year in volume.
- More than 260 Mobile Money services similar to M-PESA are now in operation across 89 countries, with another 100+ planning to launch within the next 12-18 months.
- Fifty-nine percent of Kenyan adults use M-PESA
- According to CGAP, a financial inclusion advocacy arm of the World Bank, 22 percent of Bangladesh’s adult population uses mobile money.
- With 261 mobile money services across 89 countries worldwide, mobile money already covers nearly two-thirds of the developing world.
- The first Mobile Money service was launched in 2001 (by telecoms giant Smart Communications in the Philippines), but the first Mobile Money service to launch in Europe was only last year – Vodafone’s M-Pesa service in Romania.
- Over 60 per cent of Mobile Money providers offer ready APIs for third parties to link into their systems, enabling a wide range of transactions across different sectors, including retail, transportation, utilities, health, education, agriculture, and even government services.
- The global telecoms body GSMA notes that in Latin America alone the number of new mobile money accounts grew by 50 percent in 2014.
- Mobile money now has 103 million active users around the world, up from 60 million users a year ago, and up from 30 million just one year before that.
- In 16 of these countries, there are more mobile money accounts than bank accounts!
The Market Problems in Canada
- 61% of consumers intended to buy a product or service but decided not to, based on poor customer service.
- Canada has among the highest costs in the world to process credit-card transactions for merchants.
Americans spend 37 billion hours in line per year!
Experts say we will each spend three to ten years waiting in lines. You could have completed your college, master’s and/or doctoral education while standing in line!
In the August 19th (2012) edition of the New York Times, an MIT researcher and professor, Richard Larson, widely known as an expert in the field, is quoted as saying,
“Often the psychology of queuing is more important than the statistics of the wait itself,” because, “occupied time (walking to baggage claim) feels shorter than unoccupied time (standing at the carousel). Research on queuing has shown that, on average, people overestimate how long they’ve waited in line by about 36%. Larson continues, “All else being equal, people who wait less than they anticipated leave happier than those who wait longer than expected.”