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The Resource for the Global Finance Profession

Mobile Deposit Usage Surges in Canada

  • By Staff Writers
  • Published: 2014-05-28

Canadians have deposited more than one million checks via mobile phones since the Canadian Payments Association (CPA) approved the check image rule last year, according to data from NCR. The rule allowed for mobile remote deposit capture (RDC).

Furthermore, NCR’s statistics show that mobile deposits have actually doubled every quarter since April 2013, when Canadian banks began deploying the service to customers. Led by CIBC, Tangerine and several Central 1 credit unions, more than 20 financial institutions in Canada are now offering mobile check deposit to their customers.

Steve Nogalo, vice president and general manager of Global Payments Solutions for NCR, noted that depositing checks via mobile device puts a “modern twist” on an old process, making depositing checks even easier and faster. “Canadians have embraced this technology because it is convenient and secure,” he said.  

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