International

Canada Sees Increase in Mobile Deposits

NCR Corporation recently released data on the level of mobile checking deposits made in Canada, and found that mobile deposits have doubled every quarter since April 2013 when Canadian banks began deploying to their customers.

Last year, the Canadian Payments Association approved the check image rule last year, which allows for mobile remote deposit capture (RDC). Since that time, NCR reports that Canadians have deposited more than 100 million checks through their mobile phones.

NCR Corporation’s Global Payments Solutions vice president and general manager Steve Nogalo, explained in a company statement that Canadians have embraced this digital option because it’s convenient and secure.

“While checks have been used as a form of payment for a long time, the application of a mobile phone puts a modern twist on the process to make depositing a check faster and easier,” Nogalo said.

NCR stated that more than 20 financial institutions in Canada are now offering mobile check deposit to their customers. In comparison, RDC has been allowed in North America for several years, and over 1 million checks have been deposited through mobile devices, according to NCR.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

——————————–

Latest Insights: 

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. Check out the February 2019 PYMNTS Financial Invisibles Report

2 Comments

TRENDING RIGHT NOW

To Top