Tap Payment 101
Stay safe digitally by staying up-to-date on the latest forms of tap-to-pay tech and how to use it. Currently, nearly 35% of Canadians regularly use their phones for tap transactions. Concurrently, about 80% of retailers in Canada now accept Apple Pay, the tap-to-pay tech for iOS devices.
“Near-field communication” is the tech that allows for payment exchange between objects and card readers, so you can pay with your smartphone or smartwatch, or by hovering your card over the reader – no cash or PIN required.
Stay Safe When Paying on Your Phone
Tap is one of the safest ways to pay, since account information is encrypted and not actually transferred to the retailer. Still, prioritize safety with these tips:
- Use only trusted payment platforms
- Keep strong passwords and enable facial or fingerprint recognition where possible.
- Immediately lock a lost or stolen phone.
Popular Mobile Payment Methods
- Apple Pay Canada
- Google Pay Canada
- Samsung Pay Canada
Available at Most Major Grocery Stores and Retailers
- Grocery Stores: Loblaws, Costco, Whole Foods
- Fast Food: McDonald’s, Subway, Tim Hortons
- Retailers: H&M, Marshalls, Staples
- Gas Stations: Petro Canada, Costco, Esso
Mobile Payment Goes Local
Square, PayPal and Shopify technology let you use tap at some small businesses like your local coffee spot, bookshop or clothing store.
Apple Maps and Google Pay have features to help you identify nearby stores accepting mobile payment.
There’s also An Easier Way to Pay Your Friends
Peer-to-peer (P2P) Payment – Try these apps for splitting grocery runs, utility costs, takeout or any other time when you need to pay back a friend or neighbour without exchanging cash face-to-face.
PAYMENT APP & HOW TO USE IT
Interac – Access through your bank app (offered by most Canadian banks).
Facebook Messenger – Send money through the Facebook Messenger platform.
PayPal – Create a PayPal.Me link to send to friends and family for quicker payment.
G Pay (Google Pay) – Send or request money through Google Pay, Gmail or Android Messages apps.
Note that bank transfer fees vary by service, but typically you can transfer funds immediately for a small fee or within 1-3 business days for free.
I hope you find these tips helpful!
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SOURCE: Apple, Canada Mobile Payment Users 2019, Canadian Payment Methods and Trends 2020