Canadians are adopting banking apps on their smartphone rapidly and are slowly ditching wallets in favor of banking on the go, according to a report.

Toronto-based Solutions Research Group reveals that over 2.5 million Canadians are already banking on the go, which shows remarkable traction given the first mobile bank app launched only a year ago. Interestingly, it took online banking four years to reach the same level of penetration in Canada.

According to the report, banking apps are well-positioned, already surpassing music, news, video, and entertainment apps, virtually all of which have existed since the first iPhone was introduced, in downloads. About eight percent of Canadians who download banking apps don’t end up using them, most likely due to security concerns.

Research conducted by Leger Marketing for PayPal Canada reveals that one in three Canadians would carry a mobile device as their wallet , and would be willing to make payments using their phone.

Additionally, 56 percent of Canadians are comfortable with never handling cash again.

Darrell MacMullin, managing director of PayPal Canada, said:

“From avoiding the search for ATMs, to finding easier ways to split restaurant bills with friends or making payments anytime, anywhere and from virtually any device, Canadians want easier, faster and safer ways to shop, share expenses, send money or get paid back.”

Here’s an Infographic from Canadian tech blog Techvibes that sums it all up:

Inforgraphic by Ignite Social Media.

Infographic by Lab42.com

Has texting taken over as the primary form of communication for today’s teens?

We found our answer with this Infographic from Lab 42, which polled 500 social-networking Americans aged 13 to 21.

The headline stat: 71% of the respondents preferred texting to phone calling. But we have our doubts about that self-reported 2% who admit texting while driving, a suspiciously low number.
An additional statistic not included here: An infographic we created last year showed that adults 18 and older text an average of 10 texts per day, and guys 14 to 17 text 30 times per day — but girls 14 to 17 are the biggest texters of all, sending an average of 100 per day.

In some surveys, the overall number is even higher. For instance, according to MSN Money, each American teen sends an average of 3,339 texts per month.
Given the tremendous volume of texting going on, we’re hoping the parents paying for all this ponied up for an unlimited plan. Beyond teen texting, we’re certain we text a lot more than phone calling these days, too. How about you?

Infographic by TechKing.