Canada: payment methods, by volume

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Cash money made up roughly 19 percent of overall payment transaction volume in Canada in 2019, a relative decline of nearly 40 percent compared to 2014. Indeed, the source lists the decline in paper based payments as one of the most significant changes between 2014 and 2019. Opposed to this is the digitalization of payments: Credit card especially grew at a fast pace, from a market share of 21 percent in 2014 to a share of 31 percent in 2019 - a relative change of 62 percent.

Most used payment methods including consumer as well as business environment based on transaction volume in Canada in 2019 (in millions)

Characteristic	Volume of transactions in millions
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Release date

November 2020

More information

Region

Canada

Survey time period

2019

Special properties

Numbers provided are from late 2020 but cover 2019 only, the source explicitly states it did not supply figures on the impact of COVID-19 just yet.

Supplementary notes

The source states that the figures provided concern "consumer and business payment behavior conducted at the point-of-sale payments environment and the remote payments environment".

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