The Most Popular E-Wallets in Canada

E-wallets have made their way into almost every sector of the Canadian economy and with good reason. They have the potential to make financial transactions faster, easier, and more secure than ever before. With technology becoming a necessity day by day, there is an urgency to digitize most of our daily activities. Starting from work to financial transactions, everything is digitized. You can also go visit an online casino CA and check out the exciting prizes that you can win when you play their extensive array of games.

Heading back to the need of the hour, in this blog, we will look into the most popular e-wallets in Canada. Keep reading to know more about these and find the right one for you.

Popular E-Wallet Companies in Canada

The most popular e-wallets in Canada are: 

• Square
• Shopify
• Scotiabank Smart Account
• Apple Pay 
• Google Pay 
• Kraken
• Coinbase
• CIBC Smart Account

Square

Square is one of the most popular e-wallets in Canada. It was founded by Jack Dorsey in 2009, who also founded Twitter. Square is a credit card reader which plugs into any iPhone or Android device. Square’s goal is to make commerce easy, and it has made it possible for small businesses to accept a card as payment quickly and securely, with just a few swipes on their mobile device. Square also offers invoicing and inventory management services that make it possible for merchants to grow their business, automatically invoice customers and track stock levels at all times.

Shopify

Shopify is an e-commerce platform that also offers a digital wallet. It is a great option for Canadian businesses as it does not charge any transaction fees. Shopify has been used by over 500,000 merchants and has processed over $10 billion in transactions.

Scotiabank Smart Account

Scotiabank Smart Account is a great option for both business and personal use. It offers the convenience of making payments online or via mobile device, with no need to carry cash with you. The Scotiabank Smart Account provides you with 24/7 access to your finances, so you can be certain that your account is always safe.

Apple Pay

Apple users are everywhere around the world. This has led the giant to come up with its own platform for inline transactions. What makes it unique is that it comes with Apple’s legendary protection and amazing user experience. Apple Pay is one of the most preferred e-wallets in Canada. Almost all retailers in the country accept the mode of payment, making it very convenient. With the recent use of NFC payments, Apple Pay has also integrated the system into its network, and as a result, all you need to do now is just add your debit or credit card details on the app and proceed with your purchases.  The e-wallet comes with the added security of face ID or touch ID along with a passcode. The biggest benefit you can get with Apple Pay is that you can store tickets to concerts, travel tickets, movie tickets, and boarding passes for your future reference.

Google Pay

One of the most widely used e-wallets is Google Pay. It is an offering from the tech giant Google, and it is very easy to use. The app was called Android Pay earlier. You can use it for NFC terminals, and it can be used both on iOS and Android-based systems. It is a widely accepted form of payment in Canada, it being recognized by most Canadian banks.

Kraken

Another cryptocurrency exchange that doubles as an e-wallet is the Kraken. Though the name itself can invoke fear in many, this is one of the most popular tools in Canada these days. It can be used to make transactions pertaining to cryptocurrencies for Canadian dollars. Digital assets can also be stored in this e-wallet as means of convenience.

Coinbase

If you are in Canada, you must have come across the name Coinbase. Apart from being one of the largest cryptocurrency exchanges in the world, it is also one of the most famous and preferred e-wallets in Canada. This platform allows its users to purchase cryptocurrencies using Canadian as well as U. S. dollars. With ease comes certain conditions; Coinbase offers its own exchange rate that one can use to make purchases on the platform. The best part about this e-wallet is that there is no fee for selling or buying on the platform. However, there is a withdrawal fee that is levied if money is transferred out of the platform.

CIBC Smart Account

CIBC Smart Account is one of the most popular e-wallets in Canada. It’s a mobile banking app that lets you move money from one account to another and make payments with just a few taps on your phone or tablet. You can also set up bill payments for things like your rent, mortgage, car payments, and much more.

These were the most popular e-wallets in Canada that are widely used for daily interactions. If you wish to move to Canada, you might want to brush up on how to use these. Try out one of these e-wallets on your next visit to Canada.