Canadian consumers wary of conducting financial transactions on mobile devices

Canadians appear to be very wary of using their mobile devices for making online purchases and conducting financial transactions, according to KPMG.
In its report, Consumers & Convergence IV survey, KPMG compared the habits and concerns around the world regarding the use of mobile devices for conducting financial transactions.
Only 19% of Canadians feel comfortable using their mobile phone for financial transactions compared to 34% of global respondents, the survey found.
Eight per cent of Canadians have made purchases using a mobile phone through a retailer’s site – double the amount from 2009, but significantly less than global consumers at 28%.
And only 15% of Canadians have done banking through a mobile device compared to 45% globally.
“These consumer concerns over privacy and security are pivotal to the continued adoption of e-commerce and mobile commerce,” said Brendan Maher, national industry leader of KPMG’s information, communications and entertainment practice.
“Companies which implement robust policies and safeguards and which provide for full disclosure of these measures are likely to reap the rewards through enhanced customer attraction and retention.”