With 66% sad to see summer come to a close, 24% would be willing to spend up to $1,000 on a one-week summer extension. While 20% planning to head out of town for a long weekend getaway, 44% intend to spend the long weekend in the city entertaining family and friends or simply relaxing. These findings, according to a new poll from MasterCard “PayPass,” also show 29% disclosed they will miss the hot weather the most, 25% will most miss basking in the extra daylight and 22% will most miss summer activities. Additionally, 65% squeeze the most out of summer by stopping for gas before a road trip while 36% pack on Thursday for a weekend away and 35% stock up on summer supplies so they don’t have to stop to buy them before a long weekend or a weekend away.
CT-Payment electronic payment processing has acquired the Assure Pay Debit and Credit Card processing business from TELUS Corporation. Offering custom payment solutions across a wide range of communication protocols, Assure supports transactions from all major credit cards, private-label, travel, entertainment and fleet cards. With the acquisition, CT-Payment transactional volume will excess 110 million transactions annually, serving government’s agencies, large merchants, telecommunication companies, service companies and retailers. The acquiring Company will also immediately interface its newly acquired platform to its current payment solution. The acquisition will be conducted through a set of managed service agreements ensuring a seamless transition for the application development, maintenance, support and client care functions.
Many Canadians are admitting delaying shopping because they are too
busy, say 38% of consumers, while 11% are just plain lazy and 6% are
hoping to avoid holiday shopping altogether. Other reasons, according to
the TD “First Class Travel” Visa Holiday Shopping survey, show 36% do
not know what to buy; 15% are procrastinating; 14% are waiting on last
minute deals; and 13% are just too overwhelmed by the entire holiday
shopping experience. In response, TD has recommended holiday consumers
shop online; track spending; buy gift cards; be practical; and donate.
Only 47% will do any shopping online this holiday season; 3% plan to do
more than half of their shopping online, and none of those polled plan
to avoid the stores entirely while 61% of Albertans plan to shop online,
34% of which plan to use the web for more than 10% of their holiday gift
buying; and only 32% of Quebecers are planning to shop online.
Nearly 55% of Canadians have contributed a consistent amount to charity
over the last 12 months, despite continued economic turmoil. Another 13%
have increased contribution in the last year and 18% increased
non-monetary donations in the past year with volunteer and non-paid
charitable work. Among Atlantic Canadians, 25% increased non-financial
contributions while women nationwide were 6% more likely to do so. These
findings, according to the MasterCard Canada “Charitable Giving Poll,”
comes in anticipation of a busy holiday season. However, 20% will not be
making financial charitable donations this year thanks in great part to
the poor economy; 28% of those between the ages of 25-34 are unlikely to
give to charity, versus just 12% of those over 65; 28% of Quebecs have
no intentions to contribute to charity. The majority of donors (60%) are
planning to contribute up to $500 this holiday season while only 5% are
expecting to contribute over $1,000.
In conjunction with the introduction of a new interest rate on balances
“Direct Savings Account” of 4.25%, an HSBC Canadian survey was recently
conducted to examine the spending and savings habits of consumers. The
showed that across all regional and age demographics, Canadians tended
money savers. Moreover, the research showed that 70% of Canadians have
investments or savings, 33.3% are saving on a schedule of pre-authorized
deductions, 55% save up rather than using credit and 12% will pay their
off tomorrow. The survey also showed that 91% feel a high savings rate
less than 50% know what their savings account return rate is, and 48%
rates of return each month. Comparing different Canadian regions, 88% of
are confident in managing their money and 32% twice as likely as others
to put away
a set amount of money on a monthly basis, 29% of those in the Prairies
likely to be at their credit maximum and 78% British Columbians say they
where near their credit card maximum. HSBC Bank Canada has more than 170
offices while HSBC has nearly 10,000 offices in 83 countries and
assets of US$2,150 billion.
Scotiabank has conducted a survey revealing that 50% of Canadians plan
to take vacations in Canada during the summer months of 2007. The
study shows that 61% of the travelers plan to use their credit cards to
fund the trips while 47% plan to use cash. Destinations of choice indicate
the 12% will be visiting Quebec, 11% visiting Ontario, 10% to British
Columbia and 5% are going to Alberta. The average total cost of these
vacations will be around $2600. Scotiabank has 58,000 employees serving
approximately 12 million customers in 50 countries. The bank has $412
A Capital One Canada survey has found that since the end of tax season,
39% of those polled want to forget about finances until tax-time next year
and 41% would rather clean out their basement or garage than think about
finances. Only 29% said they would review their credit cards to make sure
they are getting the best rates and fees. Albertans, however, are more
to take a hard look at credit options at 32% while Quebecers are least
at 20%. Experts say, however, that spring is a good time for people to
evaluate finances and take control of their situation. Only 16% of
are attracted to offers with promotional awards and only 2% are interested
in offers with a time-limited introductory rate. Also, 26% buy in bulk, 17%
look for free samples and meals at work or other functions, 4% of Canadians
say they “mooch” off friends and family and 69% use and stick to a budget.
The eighth annual VISA Canada gift-giving survey shows that 22 million Canadians plan to spend an average of $930 on gifts this holiday season. Conducted by Maritz Research, the study shows that 87% intend to tackle their lists at local stores, significantly more shoppers with Internet access and a credit card will turn to e-retailers than in previous holiday seasons (23% vs 18% in 2005). To date, Canadians have already spent $2.8 billion on their VISA cards during the peak holiday shopping season (November 21-November 27). For the eighth year in a row, clothing is the most popular gift for friends and family. Gift cards and gift certificates moved up from fourth to second spot this year, tied with toys as likely gifts to exchange.
Almost six million Canadians headed to stores in search of “Boxing Day”
bargains with the average shopper spending $319. Fifty percent of the
shoppers were still looking for holiday gifts for the 2005 holiday
season. The total amount spent on “Boxing Day” is expected
to top $1.8 billion according to Maritz Research for VISA. VISA expected to process more than two million credit card transactions totaling over $300 million in sales volumes. VISA also revealed that 21 million Canadians expected to spend $19.5 billion on holiday gifts this year.
A new poll from RBC Financial Group shows 47% of its “Avion”
cardholders or “RBC Reward” members redeem their points for travel to the USA while 33% redeem for travel within Canada and 20% use rewards to travel internationally. When asked what their most unusual credit card purchase was while on holiday, Canadians show a quirky side with some particularly peculiar purchases. These include: three Australian didgeridoos; an obsidian carving, a coconut handbag, a stuffed Yoda doll, haggis, lederhosen and the rental of a Harley Davidson motorcycle by an 81 year old man from Manitoba. Of additional note, some respondents said they used their credit cards for medication, doctor visits, prescription sunglasses, casts and trips to the emergency room.
Canadians now carry an average credit card balance of C$2,451 per person, according to a January survey. Cardholders in Alberta carry the highest average balance, C$2,935, while consumers in British Columbia carry the lowest average balance of C$2,075. The new BMO Bank of Montreal survey also found that Canadians spent approximately $970 each during the holidays (on gifts and other related expenditures) with most the of spending placed on payment cards. BMO says the survey showed that of those who carry a balance, 24% expect to take six months or more to pay off holiday card debt. The BMO Bank of Montreal “Post Christmas” survey was conducted by Decima Research.
AVERAGE CREDIT CARD BALANCES
REGION AVERAGE BALANCE
British Columbia $2,075
Canadians now carry an average credit card balance of C$2,451 per person, according to January survey. Cardholders in Alberta carry the highest average balance, C$2,935, while consumers in British Columbia carry the lowest average balance of C$2,075. The new BMO Bank of Montreal survey also found that Canadians spent approximately $970 each during the holidays (on gifts and other related expenditures) with most the of spending placed on payment cards. BMO says the survey showed that of those who carry a balance, 24% expect to take six months or more to pay off holiday card debt. The BMO Bank of Montreal “Post Christmas” survey was conducted by Decima Research between January 4th and January 6th, and was based on a randomly selected sample of 1,006 Canadians who made holiday expenditures.