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Canada soon the most Cashless Country in the World?





Canada is the world’s most cashless economy. Leading the way with cashless payments, the latest World Bank data shows 83 per cent of the population (aged 15+) own a credit card – the highest usage in the world.

Canada also has the highest contactless payment limit in the world at $250 CAD (£147~).

Hong Kong takes second place, with the latest figures showing 83 per cent of Hong Kong’s citizens (aged 15+) own a debit card and four major e-wallets are in operation – Apple Pay, Google Pay, Samsung Pay and Alipay.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.










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