In pursuit of more convenient, faster and secure payment experiences, Canadians are rapidly adopting newer digital channels, such as contactless (tapping card or mobile), e-commerce, mobile and online transfers, in favour of more traditional ‘paper and coin’ payments.
The newly released 2019 report analysed the 21.1 billion payment transactions made in 2018, totalling more than USD 9.9 trillion in value. The study points to insights and trends that continue to transform the payments landscape.
The Canadian Payment Methods and Trends report was compiled by Payments Canada with the help of payment service providers, payments consultants and researchers to help build an understanding of the Canadian payments landscape in 2018.
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