Canadian spending and purchase habits have not yet returned to pre-pandemic preferences
44 per cent say COVID-19 has changed their payments preferences to digital and contactless long-term; 61 per cent are spending less; 42 per cent are uncomfortable handling cash.
Payments Canada has released new data on Canadian payment trends since the onset of COVID-19, showing that Canadians continue to spend less overall, and are maintaining a digital-first mindset with continued preference for contactless payment methods. The study provides a moment-in-time perspective on Canadian spending behaviours compared to pre-COVID-19, and acts as a follow-up to the May 2020 study conducted during week five of the pandemic.
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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