In 2012, there was a total of $44 trillion in total payments volume and over 24 billion domestic transactions. A full third of transactions of $44 trillion were non-cash. Cheque volume is small and decreasing year over year as they are gradually displaced by card payments.
76.3 million Visa and MasterCard cards are in circulation in Canada. **CBA credit card statistics as of October 2013. A study by IHS Global Insight1 found that electronic payments have contributed $196 billion to the Canadian economic growth in the last 25 years.
94% of Canadians have a debit card to use at retailers or at ABMs to market transactions. A MasterCard study found that overall, of the $63 trillion in total global consumer spend in 2011, 34% ($21 trillion) was done with cash, with cashless payments accounting for 66% ($42 trillion). Within Canada itself, non-cash payments account for 90% of the total value of consumer payments in Canada.
In the greater Toronto area 5 million people live in a sprawling, growing economy. The population in Canada based on recent statistics is advancing rapidly to 40 million people, with a robust economy.
87% of owners of smartphones or tablets use their mobile devices to shop
87% of Canadian households connected to the Internet, Canada ranks 16th globally in terms of Internet penetration in 2013 – CIRA Forrester Research estimates that Americans will spend $90 billion through mobile payments by 2017, up from $12.8 billion in 2012.
Cash accounts for only around 10% of the total value of all consumer payments in Canada, and it only accounts for a little more than 40% of the number of transactions.
96% of Canadians aged 18 and over have a savings, chequing or other account with a financial institution that they can use to write cheques, pay bills or transfer
94% of Canadians have a debit card to use at retailers or at ABMs to make transactions.
92% of Canadians have at least one major credit card.
46% of Canadians use online bill payment as their primary tool for paying bills.