Mobile money payments are undoubtedly one of the best things fintech has produced over the last decades. The world went from visiting banks on weekdays to coordinating payments on mobile phones from anywhere in the world. Especially for top mobile transaction regions like Canada, mobile payment apps are a big deal.
The beauty of these pay services is that each one is a bit unique and serves certain purposes better than the next. To that end, we’re highlighting 10 of the best mobile payment apps that serve the Great White North. Read on to find something that fits your needs in Canada.
Top features to look out for and How Mobile payment apps Work
Before we dive right in, there are certain features that should be guaranteed in a good payment mobile service. Doesn’t matter if you need it for business or personal use. Let’s get you acquainted with the most crucial ones;
- Security; Any standard payment service should have available modern security measures in place to cater to safety. These include encryption, cybersecurity measures, etc.
- Multiple currency support; A proper mobile payment service should eliminate limitations. That means worldwide payments in several currencies so users can send money with ease.
- Cross Platform Capability; Android, iOS and windows users should all be able to access a top rated mobile app payment service.
There’s more to look out for. Nevertheless, the ones we’ve mentioned can be considered the bare minimum.
Top 10 Mobile Payment Apps In Canada for 2024
PayPal: Best for Shopping Online
Max Levchin, PayPal co-founder – “Technology has come a long way since PayPal.”
Overview
PayPal is an American fintech company, established as Confinity, going public in 2002. The billion dollar payment service is very popular in Canadian markets. PayPal is also has one of the widest global reaches for a fintech solution.
Why we picked PayPal
Statistics suggest that a good number of mobile payments in Canada in 2024 were online purchases. This is the major reason PayPal is at the top of our list. The service is also easy to use, safe and is amazing for online shopping as well as personal payments.
Pros
- Friendly interface, easy to use
- Spotless security record
- Used internationally
- Facilitates p2p activity alongside online payments
Cons
- Few in-store payment options
Fun Fact: PayPal has over 400 million users worldwide, and in 2023, it processed over $1.1 trillion in payment volume
Google Pay: Best for Android users
Overview
Google Pay is owned by the global search engine, Google. The payment service was launched in 2011 to power in-app and online cashless transactions.
Why we picked Google Pay
Google pay has come to be the go to spot for a lot of Android in-app payments as well as international transactions. Judging by the prevalence of Android users in the Great White North, Google Pay is nothing short of ideal.
Pros
- Functions on Android, iOS and the web
- Gift card and loyalty program management
- Virtual card numbers in place of physical ones
Cons
- Another way you’re glued to Google
- Little to no buy protection
Apple Pay: Excellent for purchases, iOS and Mac book users
Overview
Equivalent to Google Pay, Apple Pay is an iOS inspired payment service that supports credit and debit cards and offers contactless payments in stores. It also comes in handy as it integrates with apps and websites for convenient online transactions.
Why we picked Apple Pay
Aside from its reputation, Apple Pay is very instrumental for Canadian users as it also reaches far and wide. iOS users also get an Apple Cash virtual card, that facilitates international purchases.
Pros
- Great for managing gift cards, boarding passes, movie tickets and all.
- High reward credit option
- Super quick and easy NFC payment system to send and receive money
Cons
- Limited for non iOS users
- Relatively complicated set up
Square: Great for Business Transactions
Overview
Another fintech solution, founded by Jack Dorsey and Jim McKelvey in 2009. The payment service is particularly designed to simplify day to day transactions for businesses. Accessibility, ease and innovation are key words here.
Why we picked Square
Square is one of the most popular payment services facilitating NFC and contactless business payments across Canada. It is also tested and trusted to handle millions of business interactions without delays.
Pros
- Excellent Point of sale systems
- Great e-commerce solution
- Great business networking
Cons
- Flat rate fees may be a little expensive
- Not the best customer support
Samsung Pay
Samsung Pay, launched in 2015 by Samsung Electronics, leverages NFC and MST technologies.
Why when picked Samsung Pay
Samsung pay facilitates secure payment for both contactless and traditional card terminals. The system also integrates seamlessly with the Samsung ecosystem which is great for Android and Samsung users in Canada.
Pros
- Wide compatibility
- Convenient design
- Offline functionality
- Zero extra fees
Cons
- Limited bank support
- Geographical restrictions
Paysafecard; Great for online casino and gambling payments
Overview
Founded in Austria in 2000, Paysafecard is a prepaid online payment solution. The mobile service is particularly prominent for its wide use in the gambling entertainment and e-commerce space.
Why we picked Paysafecard
As hinted, Paysafecard is ideal for online casino gambling in Canada, particularly for its anonymity and ease of use. For this reason, finding popular casinos that accept Paysafecard in Canada is no longer the usual struggle.
Pros
- Privacy and Security
- Ease of Use
- Budget control
- No bank account needed
Cons
- Transaction limits
Limited merchant acceptance
Astropay; Great for Entertainment transactions
Overview
Out of the United Kingdom, Astropay was founded in 2009 to cater to prepaid and direct payments for a global user base.
Why we Picked Astropay
Astropay is also a great solution in the eGaming and e-commerce industries in Canada. The platform’s services can also be accessed without bank accounts or credit cards.
Pros
- Prepaid flexibility
- Multi currency support
- Security and privacy
Cons
- Restrictions on larger transactions
Skrill
Overview
Skrill was founded in 2001 as a Moneybookers in the UK. Today it is a global mobile wallet payment service for transfers with low fees and a wide reach.
Why we picked Skrill
From its multi currency support to its relatively low fees, there are at least a dozen reasons we recommend Skrill for Canadian users.
Alternatives
- Interac e-transfer
- Neteller
For our last two mobile payment services, we’re presenting the well known Interac e-transfer for its indigenous reach. Neteller on the other hand for its well rooted e-commerce and entertainment appeal.
Fun Fact: Even without an online connection, users could still make certain transactions with some of these mobile payment services.
