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Canadian consumers choosing digital transactions more over cash

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Canadian consumers choosing digital transactions more over cash

  • 42% of Candian people asked have reduced their use of cash, whilst the rate was 22% in the U.S.
  • The survey done by marketing consultants McKinsey also found that the rate of people using online payments has increased rapidly, with 23% saying that after the pandemic they will use branches less.
  • Canadians move to online payment is higher then other countries in the study, such as France, Germany and the U.S. who were between 13% and 17%
  • Use of contact less payment has also risen in Canada, rising 26%. This includes payment of bills online and ordering food via apps as well as traditional contact less payment at stores

Source : https://www.thestar.com/business/2020/07/13/canadian-consumers-shun-cash-bank-branches-on-virus-fears.html

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