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1. • • Year-over-year trends: Credit and debit cards continue to be the top two payment methods Transaction volumes and values across all payment types, with the exception of cheques, experienced year-over-year growth in 2022.
     www.payments.ca/insights/research/canada-reaches-117-trillion-payment-transactions-2022-seven-cent-value-2021

     Canada reaches $11.7 trillion in payment transactions in 2022 ...

2. 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 methods are most popular in 2022?

   • Credit cards represent 33 per cent of payment volume in 2022, followed by debit cards (31 per cent); electronic funds transfer (15 per cent); cash (10 per cent); online transfer (five per cent); cheque, automated banking machine (ABM) and prepaid cards (all at two per cent).

   Canada reaches $11.7 trillion in payment transactions in 2022 – up

   www.payments.ca/insights/research/canada-reaches-117-trillion-payment-transactions-2022-seven-cent-value-2021

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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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   What are Canada's payment trends in 2021?

   • Overall, payment trends remained unchanged in 2021 compared to the past five-year period. From a payment volume perspective, credit and debit cards continued to lead the number of transactions, and usage grew. Cash use continued to decline and remained the fourth most used payment method in Canada by volume of transactions.

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

   www.payments.ca › sites › default

   This overview of payment behaviour and trends illustrates Canadians’ use of different payment methods, and demonstrates shifts in payment behaviour. In 2020, there were a total of 20 billion transactions worth $9.4 trillion captured in the analysis.

   • Canada reaches $11.7 trillion in payment transactions in 2022 ...

     Online transfer continued to be the fastest-growing payment...

   • REBOUND AND GROW - Payments

     Overall, total card transaction volume and value rebounded...

4. www.payments.ca › insights › researchCanada reaches $11.7 trillion in payment transactions in 2022 ...

   www.payments.ca › insights › research

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   Oct 5, 2023 · Online transfer continued to be the fastest-growing payment type with year-over-year volume growth of 11 per cent and value growth of 19 per cent from 2021. Interac e-Transfer continued to dominate the online transfer payment segment with more than three in five Canadians (61 per cent) using Interac e-Transfer to either send or receive a ...

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

   www.payments.ca › sites › default

   Overall, total card transaction volume and value rebounded from the decline a year ago, driven by gains in credit and debit cards (see Table 2: Card year-over-year growth). Credit cards continued to lead debit cards in terms of overall volume, and accounted for 67 per cent of overall card value.

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

   www.banqueducanada.ca › wp-content › uploads

   We present results from the 2021 Methods-of-Payment (MOP) Survey, including updated payment shares based on a three-day shopping diary. We highlight long-term trends observed across previous MOP surveys from 2009, 2013 and 2017.

8. www.bankofcanada.ca › wp-content › uploads2022 Methods-of-Payment Survey Report: Cash Use Over 13 Years

   www.bankofcanada.ca › wp-content › uploads

   This paper reports the main findings from the Bank of Canada’s Methods-of-Payment (MOP) Survey for 2022. This survey measures Canadians’ adoption, use at the point of sale and perceptions of payment methods.

9. 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 Bank of Canada surveys Canadian consumers to get a better understanding of how they pay for goods and services. The Methods-of-Payment survey provides a representative snapshot of Canadians’ payment choices, with a focus on cash use.

10. publications.gc.ca › site › eng2021 Methods-of-Payment Survey report / by Christopher Henry ...

    publications.gc.ca › site › eng

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    We highlight long-term trends observed across previous MOP surveys from 2009, 2013 and 2017. We also review patterns of the management and use of cash, the adoption and use of payment cards, and the use of alternative payment methods across different demographic groups.