COVID-19 payments trends
75 per cent of Canadians spending less than pre-pandemic; 62 per cent using less cash; 42 per cent avoid shopping at places that don’t accept contactless payments.
New data from a Payments Canada study on payment trends during COVID-19 reveals some dramatic shifts in Canadians’ payment preferences since the pandemic took affect in Canada. The study compared spending behaviours pre-COVID-19 and at week five of the pandemic, uncovering higher use of contactless payments, electronic payments, e-commerce, online/mobile banking, and lower demand for cash.
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More Canadians are sending international payments than ever before, reveals new Payments Canada study
As the number of international payments continues to grow, people living in Canada stand to benefit from the introduction of the ISO 20022 messaging
