Canada's POS payment behavior did not change much since COVID-19, although wallets did become more popular in 2021. Credit cards remained the most used payment method in Canada, both before and after COVID-19, accounting for roughly half of POS sales. Indeed, the country boasts a relatively high credit card penetration. The share of cash, on the other hand, continued to decline whilst both wallets as well as retailer/bank financing took their place.
Market share of cash, credit cards, and other payment methods at point of sale (POS) in Canada in 2017, 2019, 2020 and 2021
* The source made changes to its categories in 2021, see the "Details" tab for more information.
Supplementary notes
In 2022, the source stated it made two changes to the categories used in previous years. These include a combination of "credit cards" with "charge/deferred debit cards" and the split of BNPL from "POS financing" (which itself was added as a new category in 2020). The latter change was made to atone for the "growing importance of BNPL".
The figures have been taken from several publications. No figures were available for 2018 as the source did not release any reports that year.
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Worldpay. (March 2, 2022). Market share of cash, credit cards, and other payment methods at point of sale (POS) in Canada in 2017, 2019, 2020 and 2021 [Graph]. In Statista. Retrieved May 25, 2022, from https://www.statista.com/statistics/1177097/preferred-payment-methods-canada/
Worldpay. "Market share of cash, credit cards, and other payment methods at point of sale (POS) in Canada in 2017, 2019, 2020 and 2021." Chart. March 2, 2022. Statista. Accessed May 25, 2022. https://www.statista.com/statistics/1177097/preferred-payment-methods-canada/
Worldpay. (2022). Market share of cash, credit cards, and other payment methods at point of sale (POS) in Canada in 2017, 2019, 2020 and 2021. Statista. Statista Inc.. Accessed: May 25, 2022. https://www.statista.com/statistics/1177097/preferred-payment-methods-canada/
Worldpay. "Market Share of Cash, Credit Cards, and Other Payment Methods at Point of Sale (Pos) in Canada in 2017, 2019, 2020 and 2021." Statista, Statista Inc., 2 Mar 2022, https://www.statista.com/statistics/1177097/preferred-payment-methods-canada/
Worldpay, Market share of cash, credit cards, and other payment methods at point of sale (POS) in Canada in 2017, 2019, 2020 and 2021 Statista, https://www.statista.com/statistics/1177097/preferred-payment-methods-canada/ (last visited May 25, 2022)
