Canada: payment methods, by value

Based on transaction value, the EFT system was Canada's most used payment method when including both consumer as well as business payments in 2019. This is not surprising as the EFT system or Electronic Fund Transfer is responsible for moving digital money from one account to another. It is not a specific payment type, like a branded credit card, but rather it provides the infrastructure to make digital payments happen. The system is especially used for bank transfers.

Most used payment methods including consumer as well as business environment based on transaction value in Canada in 2019 (in millions)

Characteristic	Value in billion Canadian dollars
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Release date

November 2020

More information

Region

Canada

Survey time period

2019

Special properties

Numbers provided are from late 2020 but cover 2019 only, the source explicitly states it did not supply figures on the impact of COVID-19 just yet.

Supplementary notes

The source states that the figures provided concern "consumer and business payment behavior conducted at the point-of-sale payments environment and the remote payments environment".

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