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1. www.payments.ca › sites › defaultCanadian Payment Methods and Trends Report 2021

   www.payments.ca › sites › default

   Canadians conducted a total of 3.4 billion cash transactions, valued at $72 billion, in 2020.37 Cash represented about 17 per cent of the total volume and 0.7 per cent of the total value of all POS transactions. Overall, cash volume decreased by 44 per cent since 2015, primarily losing volume to card payments.

2. www.bankofcanada.ca › methods-of-payment-surveyMethods-of-Payment Survey - Bank of Canada

   www.bankofcanada.ca › methods-of-payment-survey

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   The Methods-of-Payment survey was conducted in 2009, 2013, 2017, 2021, 2022 and 2023. This survey includes a questionnaire and a diary where participants record their payments and cash withdrawals over the course of three days. Using this information, we calculate the share of payments made with cash, credit cards, debit cards and other methods.

3. www.payments.ca › sites › defaultREBOUND AND GROW - Payments

   www.payments.ca › sites › default

   Overall, a total of 19.7 billion transactions valued at $10.8 trillion were conducted in 2021. The total Canadian payment market grew by four per cent in volume and 15 per cent in value from 2020, rebounding from the previous year’s transaction volume and value declines.

4. www.payments.ca › insights › researchPandemic sparks evolutionary year for payment landscape ...

   www.payments.ca › insights › research

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   Sep 29, 2021 · OTTAWA, September 29, 2021 — Today, Payments Canada reveals its annual Canadian Payment Methods and Trends 2021 report, which analyzes 20 billion payment transactions made in 2020, totalling $9.4 trillion, and discusses trends that are transforming the Canadian payment landscape. “2020 marked a year of accelerated digital adoption fuelled ...

5. www.lexology.com › library › detailPayments Canada: Canadian Payment Methods and Trends Report 2021

   www.lexology.com › library › detail

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   Oct 8, 2021 · The use of cheques and paper continued to decline in 2020, both in volume (with a decline of 26% as compared to 2019, representing less than three percent of total payment volume in 2020) and in ...

6. www.banqueducanada.ca › wp-content › uploads2021 Methods-of-Payment Survey Report - Banque du Canada

   www.banqueducanada.ca › wp-content › uploads

   For the 2021 MOP Survey, the target population was Canadians aged 18 and older in the 10 provinces, and we obtained population level counts from both the 2021 Canadian Census and the 2020 Canadian Internet Use Survey (CIUS). The CIUS is used to calibrate the proportion of our sample having internet access.

7. People also ask

   Which payment types have increased the most in 2021?

   • Online transfer leads all payment types with a 372 per cent increase in transaction value over the past five years.22 For the first time ever, online transfer value surpassed that of debit cards in 2021 ($325 billion versus $273 billion). A key narrative in the 2020 CPMT report was the rise of contactless payments driven by the COVID-19 pandemic.

   REBOUND AND GROW - Payments

   www.payments.ca/sites/default/files/PaymentsCanada_Canadian_Payment_Methods_and_Trends_Report_2022_En_0.pdf

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   Which payment method is most used in 2021?

   • Credit cards remained the most used payment method for purchases made either online or at the point-of-sale. The average credit card transaction value was $90, slightly lower than a year ago ($91). Overall credit card103 usage rebounded in 2021, with a six per cent increase in volume and a five per cent increase in value from last year.

   REBOUND AND GROW - Payments

   www.payments.ca/sites/default/files/PaymentsCanada_Canadian_Payment_Methods_and_Trends_Report_2022_En_0.pdf

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   How did payment trends change in 2021?

   • Overall, many payment trends remained consistent in 2021 compared to five years ago. From a payment volume perspective, credit and debit cards continued to dominate the number of transactions, and usage grew for both.

   REBOUND AND GROW - Payments

   www.payments.ca/sites/default/files/PaymentsCanada_Canadian_Payment_Methods_and_Trends_Report_2022_En_0.pdf

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   How big is the Canadian Payment Market in 2021?

   • Overall, a total of 19.7 billion transactions valued at $10.8 trillion were conducted in 2021. The total Canadian payment market grew by four per cent in volume and 15 per cent in value from 2020, rebounding from the previous year’s transaction volume and value declines.

   REBOUND AND GROW - Payments

   www.payments.ca/sites/default/files/PaymentsCanada_Canadian_Payment_Methods_and_Trends_Report_2022_En_0.pdf

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   Which payment method has the highest growth in the past 5 years?

   • Online transfer transaction volumes and values experienced the highest growth of any payment method over the past five years (569 per cent and 445 per cent respectively) and are expected to continue growing. However, they still make up only around four per cent of total payment volume.

   Canadian Payment Methods and Trends Report 2021

   www.payments.ca/sites/default/files/2022-08/payments_canada_canadian_payment_methods_and_trends_report_2021_En.pdf

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   Why did payment value increase in 2021?

   • The increase in total payment value was linked to the rise in the national inflation rate in 2021, which rose by 3.4 per cent on an annual average basis, the fastest pace since 1991 (+5.6%), following an increase of 0.7 per cent in 2020.

   REBOUND AND GROW - Payments

   www.payments.ca/sites/default/files/PaymentsCanada_Canadian_Payment_Methods_and_Trends_Report_2022_En_0.pdf

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8. www.newswire.ca › news-releases › pandemic-sparksPandemic sparks evolutionary year for payment landscape ...

   www.newswire.ca › news-releases › pandemic-sparks

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   Sep 29, 2021 · Use of card alternatives (such as smart watches) increased dramatically, generating $244 million in payment transactions in 2020, an increase of 115 per cent and 125 per cent in the volume and ...