Cash transactions are way down. These advocates say the feds need to do something

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A recent report finds only 10 per cent of transactions in Canada involve cash, compared to 25 per cent in 2017, according to Option Consommateur.

A recent online poll of some 1,500 people commissioned by the group Payments Canada found that a majority of respondents were worried about the prospect of stores going cashless. A consumer group is urgently calling on the federal government to follow other jurisdictions in the U.S and Europe and bring in legislation to stem the slide toward a cashless society.

"They are already used to dealing with cash," he said. "So this is the moment to act, before it is more complicated.", Option Consommateurs published one of the first deep dives into who is still using coins and paper money. While that growth has slowed, Kozicki said there's still an "overall general increase that suggests people still want it."That report, titled "Social policy implications for a less-cash society," recommends legislative action, arguing that cash-based transactions have plummeted from 54 per cent in 2009 to 10 per cent as of 2021.

 

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