Canadians are not kean on cashless

Despite many retailers preferring transactions be done electronically, a new study finds Canadians still feel comfortable using cash.

The Bank of Canada study found Canadians are not going cashless, despite the COVID-19 pandemic.

The study found that cash in circulation in Canada grew sharply in March and April, and that Canadians were generally (but not universally) able to use cash at merchants.

Findings included:

36% of Canadians reported using cash for payment over the past week
38% used e-transfers
52% used their debit card
62% used a credit card
74% have no plans to go cashless in the next five years

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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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