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Canadian online shoppers hunt for bargains this Cyber Monday

Interac® survey finds ebooks and other in-home entertainment items top Canadians' shopping lists

TORONTO, Nov. 20, 2012 /CNW/ - With less than one week until Cyber Monday, Canadian shopping enthusiasts are making plans to shop for their most sought after goods at online retailers on November 26. According to a recent Interac survey, conducted by The Strategic Counsel, many online shoppers plan to purchase items such as ebooks and DVDs (60 per cent), followed closely by clothes and fashion accessories (59 per cent). Computers, tablets or MP3 players (41 per cent) round out the top three categories of items most likely to be purchased by online shoppers on Cyber Monday.

"According to the Interac survey, 62 per cent of likely Cyber Monday shoppers plan to make purchases at Canadian online retailers - a tremendous sign of support for our Canadian retail community," said Caroline Hubberstey, Head of External Communications, Interac Association and Acxsys Corporation.

How much are Canadians spending on these items? The Interac survey reveals that likely online shoppers expect to spend an estimated average of $303 on Cyber Monday. And among the online shoppers who have made plans to fill their virtual cart on this day, 72 per cent report that they will be first-time Cyber Monday shoppers.

Given 55 per cent of payment card transactions in Canada are carried out with Interac Debit*, it's not surprising that many Canadians would choose Interac Online payment when shopping over the Internet.  In fact, once their virtual shopping cart is ready for check-out, more than four-in-ten (43 per cent) of Cyber Monday shoppers said they will likely pay using Interac Online.

Interac Online payment allows you to shop over the Internet at many of your favourite online retailers and pay for your purchases easily, directly from your bank account. It's immediate, secure, and all you need is access to online banking through a participating financial institution. And Interac Online purchases are covered through the Interac Zero Liability Policy**, meaning customers are further protected.

"Three out of four Cyber Monday shoppers surveyed expressed concern about providing personal financial information to online retailers. Since Interac Online payment is conducted through online banking, Canadians can take comfort in knowing that personal financial information is never shared with merchants or other third parties," said Hubberstey. "Whether they're buying a must-have gift for the holiday season or a little something for themselves, Canadians can use Interac Online to pay immediately and securely over the Internet using funds from their bank account."

About the Survey
The results cited in the 2012 Interac Cyber Monday survey  conducted by The Strategic Counsel  are compiled from a random sample of 1,000 Canadians 18 years of age and over between November 6 and November 8, 2012. A probability sample of this size would yield results accurate to ± 3.1 per cent, 19 times out of 20.

About Interac Association and Acxsys Corporation
A recognized world leader in debit card services, Interac Association is responsible for the development and operations of the Interac network, a national payment network that allows Canadians to access their money through Interac Cash at 60,000 Automated Banking Machines and Interac Debit at 766,000 point-of-sale terminals across Canada. Interac Flash™, a secure contactless enhancement of Interac Debit allows Canadians to pay for items instantly with their Interac chip debit card at a reader that supports Interac Flash.

Interac Association was founded in 1984 and is comprised of a diverse membership that includes banks, trust companies, credit unions, caisses populaires, merchants, and technology and payment related companies.

Other related services offered by Acxsys Corporation, whose shareholders are the architects of the Interac network, include: Interac Online, for secure online payments made directly from a bank account; Interac e-TransferTM, for the transfer of money from one person's bank account to another person's bank account using an email address or mobile phone number***; and international services, which provide Canadian cardholders with point-of-sale access at nearly 2 million U.S. retailers, and PULSE, Discover, Diners Club International and UnionPay cardholders access to ABMs in Canada.

Interac, the Interac logo, Interac Flash and Interac e-Transfer are trade-marks of Interac Inc. Used under license.
*The Nilson Report, Issue 991, March 2012.
** All Interac cardholders are protected from losses resulting from circumstances beyond their control under the Interac Zero Liability Policy. See your financial institution for details.
***The Interac e-Transfer service, for secure person-to-person payments, is currently available to customers of over 100 banks and credit unions including BMO Bank of Montreal, CIBC, President's Choice Financial, National Bank, RBC Royal Bank, Scotiabank and TD Canada Trust among others. Central 1, through participating credit unions, offers the option of using mobile phone numbers, in addition to email, to notify Interac e-Transfer recipients. Money never travels by email or text message. More information about the Interac e- Transfer service and a complete list of participating banks and credit unions can be found at www.interac.ca.

SOURCE Interac Association

Image with caption: "According to the INTERAC Cyber Monday Survey, shoppers say they are most likely to shop for the following on that day... (CNW Group/Interac Association)". Image available at: http://photos.newswire.ca/images/download/20121120_C9629_PHOTO_EN_20933.jpg

Image with caption: "According to the INTERAC Cyber Monday Survey, most shoppers will spend under $250 that day... (CNW Group/Interac Association)". Image available at: http://photos.newswire.ca/images/download/20121120_C9629_PHOTO_EN_20934.jpg

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