Even if the card transactions are strongly preferred since the beginning of the pandemic, more cash has been circulated during the crisis compared to other years.
This is what reveals a study published in early July by the Bank of Canada for the months of march and April.
The money supply tends to increase from year to year, but it has grown even more sustained than usual up here in 2020, we learn from this survey probe in the spring with 4192 respondents across the country.
In the week prior to the survey, 36 % of them said they had managed to pay in cash at least once, even if some of the shops refused to accept this mode of payment by fear of contagion.
Roughly the same number of people reported having done a Interac e-transfer during the same period.
The use of the debit card (52%) and credit card (62%) remains more widespread.
Fact remains that Canadians remain attached to the cash.
The canadian Association of secure transportation (ACTS), which defends the interests of canadian suppliers of transportation of values, has not failed to note that nearly 3 out of every 4 Canadians intend to continue to pay cash in the next five years, according to figures from the Bank of Canada.
“We have continued to support that consumers want to be able to pay for their goods and services in a variety of ways. The study of the Bank of Canada reiterated this position,” commented Monday, Steven Meitin, the president of the association, by way of a press release.
Always taking into account of this study, the CWTA observes that even among the people who have abandoned the cash, more than half say they always hang out on them tickets and under.