Money transfer

What are the best payment apps in Canada?

Oct/13/2022

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Thanks to technology, our lives have changed a lot. These days, with just a few taps on smartphones, we can transfer money incredibly quickly and almost immediately. Like in several other countries, Canada’s digital payment sector has been developing rapidly over the last decade. In this article, DNBC Financial Group’s experts will help you find out the best payment apps in Canada.

What are the best payment apps in Canada?

Payment methods in Canada

Debit cards, as well as credit cards, are still the most typical payment methods, while prepaid cards are less used, and frequently used by Canadian juveniles and unbanked Canadians.

In addition, e-commerce is the latest growing trend these days due to an increase in the use of web-based stores and applications for making purchases of products and services.

Moreover, the pandemic’s consequences (including online orders, distant interactions due to health and safety concerns, and physical stores) led to a shift in Canadian payment preferences. They prefer using contactless and digital payments to cash; 58% of Canadians stated that they used less cash during the pandemic, and 67% said that they made more purchases online. So, are you curious about what payment apps most Canadians use to make payments? We will give you the answer in the next section.

What payment method apps work in Canada?

There are various payment method apps in Canada; however, within the scope of this article, we will introduce the best payment apps you can get in to make payments.

DNBCnet App

Firstly, we will take you to the most well-known app for online payment in Canada: DNBCnet App. Apart from Canada, DNBCnet App is also a widespread payment app in many other countries. It allows individuals and businesses to make overseas payments faster, and more securely with the latest updated features. Moreover, it offers excellent exchange rates and exclusive packages to make cross-border payments.

With this mobile payment app, you will:

Have a full picture of all your transactions with a one-touch interface wherever and whenever you want.
Keep your account safe from vulnerable attacks with two factors authentication and an OTP via SMS.
Transfer money internationally from/to 170 countries and territories around the world simply and cost-effectively.
Make payments up to EUR 500,000/per day with a business account , and EUR 200,000/per day with a personal account .

Apple Pay

Apple Pay is available for those with an iPhone 6 or newer, and Apple Watch owners. Apple Pay is also accessible in apps as well as on the web. Apple Pay can be seen as the best peer-to-peer (P2P) mobile payments service thanks to secure methods such as Touch ID, Face ID, Token, Cryptograms, etc.

Google Pay

With Google Pay, you can enjoy the pros of contactless payment without using a physical debit/credit card. Downloading the app and logging into your Google account is all you need to do to use Google Pay efficiently.

PayPal

With PayPal, you may send money online and shop without disclosing any personal financial information. There are three payment options to choose from: using your bank account, stored credit cards such as MasterCard and Visa, or the preloaded money on your PayPal account.

It is free if your bank account is connected to PayPal (or you have a PayPal bank account). If using a credit card to make payments, there is a 2.9% fee plus $0.30 per transaction. The money could take 1 - 3 days to arrive in your account with a standard transfer. And if you want money to appear right away, there will be a 1% transaction fee to be charged.

About DNBC Financial Group

Founded in 2017 as a financial institution, DNBC Financial Group strives to provide the best money remittance service for customers worldwide through our smart digital payment platform. We are now present in many countries all over the world, including the European Union, Canada, the United States of America, Viet Nam, Singapore, and Hong Kong.

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