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2013 Methods-of-Payment Survey Results

Listed author(s):
  • Christopher Henry
  • Kim Huynh
  • Rallye Shen

As the sole issuer of bank notes, the Bank of Canada conducts methods-of-payment (MOP) surveys to obtain a detailed and representative snapshot of Canadian payment choices, with a focus on cash usage. Overall, cash usage at the point of sale has decreased since 2009, constituting 44 per cent of payment volume and 23 per cent in terms of value, and the median value of a cash transaction is about $9. Respondents’ perceptions and demographic factors are used to interpret survey data: cash is seen as a convenient, lowcost, secure and widely accepted form of payment, and is used most widely among respondents who are age 55 and above, have an income less than $45,000 or have only a high school education. The paper also provides a comprehensive view of payment innovations, such as stored-value cards, contactless credit/debit cards or mobile payments, which are often perceived as substitutes for cash.

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File URL: http://www.bankofcanada.ca/wp-content/uploads/2015/04/dp2015-4.pdf
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Paper provided by Bank of Canada in its series Discussion Papers with number 15-4.

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Length: 49 pages
Date of creation: 2015
Handle: RePEc:bca:bocadp:15-4
Contact details of provider: Postal:
234 Wellington Street, Ottawa, Ontario, K1A 0G9, Canada

Phone: 613 782-8845
Fax: 613 782-8874
Web page: http://www.bank-banque-canada.ca/

References listed on IDEAS
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  1. John Bagnall & David Bounie & Kim P. Huynh & Anneke Kosse & Tobias Schmidt & Scott Schuh, 2016. "Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data," International Journal of Central Banking, International Journal of Central Banking, vol. 12(4), pages 1-61, December.
  2. Naoki Wakamori & Angelika Welte, 2012. "Why Do Shoppers Use Cash? Evidence from Shopping Diary Data," Staff Working Papers 12-24, Bank of Canada.
  3. Huynh, Kim P. & Schmidt-Dengler, Philipp & Stix, Helmut, 2014. "Whenever and Wherever: The Role of Card Acceptance in the Transaction Demand for Money," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 472, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  4. Huynh, Kim P. & Schmidt-Dengler, Philipp & Stix, Helmut, 2014. "The Role of Card Acceptance in the Transaction Demand for Money," CEPR Discussion Papers 10183, C.E.P.R. Discussion Papers.
  5. Carlos Arango & Kim Huynh & Leonard Sabetti, 2011. "How Do You Pay? The Role of Incentives at the Point-of-Sale," Staff Working Papers 11-23, Bank of Canada.
  6. Carlos Arango & Angelika Welte, 2012. "The Bank of Canada’s 2009 Methods-of-Payment Survey: Methodology and Key Results," Discussion Papers 12-6, Bank of Canada.
  7. Ben Fung & Kim Huynh & Leonard Sabetti, 2012. "The Impact of Retail Payment Innovations on Cash Usage," Staff Working Papers 12-14, Bank of Canada.
  8. Carlos Arango & Kim Huynh & Ben Fung & Gerald Stuber, 2012. "The Changing Landscape for Retail Payments in Canada and the Implications for the Demand for Cash," Bank of Canada Review, Bank of Canada, vol. 2012(Autumn), pages 31-40.
  9. Heng Chen & Rallye Shen, 2015. "Variance Estimation for Survey-Weighted Data Using Bootstrap Resampling Methods: 2013 Methods-of-Payment Survey Questionnaire," Technical Reports 104, Bank of Canada.
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