Payments

Credit and debit payments- The new cash

By December 28, 2015 No Comments
PAYMENTS

 

The Canadian Payment Association just published its 2015 edition of Canadian Payment Methods and Trends with some really interesting and shocking results.

 

  • Online transfers are number one in growth since 2011 with a whopping +184% growth spurt.
  • Credit cards are second with a +26% increase followed by debit cards and EFTs.
  • And no surprise, cheques & paper are markedly decreasing with a decline of -20%.

 

It is also very interesting to note, that although cash is declining and down -16% it still accounts for nearly a third of all payments volume. Credit and debit card transactions combined account for more transactions than cash.

See our infographic below for a full visual breakdown.

 
payments trends2015

Leave a Reply