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In Canada, 53% of payments under $15 are made with cash (Bank of Canada, 2018)

Jan. 24, 2019 Share Source
Offering a 'detailed and representative snapshot of Canadian payment choices,' the recent Method-Of-Payments survey finds that at 53%, the majority of payments under $15 were made with cash in 2017.

On December 17th, 2018, the Bank of Canada published the report discussing results from the 2017 survey; the second report was published in 2013 and the first in 2009.

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Other key findings include:

  • Cash is preferred by Canadians aged 55 and above with an income of less than $45,000 and a high school education or less.
  • Cash volume share has dropped from 54% in 2009 to 33% in 2017.
  • Cash value share has dropped from 23% in 2009 to 15% in 2017.
  • Canadians hold more cash on average compared with 2013.
  • Debit card ownership was almost universal in Canada in 2017, and credit card ownership increased to almost 90%.

Download Bank of Canada report here

Last Updated: June 11, 2019

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