Impact of inflation on preferred e-commerce payment method in Canada 2022
When consumers in Canada indicated they changed online payment methods in 2022 due to growing cost of living, most said they increasingly used credit cards. This according to a survey held in 10 different countries across North America, Europe, and Latin America, and purely asked on whether cost of living had changed payment behavior in those countries. BNPL, and crypto were all used more often, but neither saw the largest growth: 53 percent of respondents who changed their payment habits because of the rising cost of living in 2022 are paying online with credit cards more often than they did in the previous year. The source adds this is different from other countries.
