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2024 Methods-of-Payment Survey Report: Cash in an Era of Alternatives

Author

Listed:
  • Marie-Hélène Felt
  • Anna Chernesky
  • Angelika Welte

Abstract

The Methods-of-Payment (MOP) Survey tracks consumer use of cash and other methods of payment. We present core findings from the 2024 MOP Survey, highlighting results from both the survey questionnaire and subsequent three-day shopping diary. Although cash holdings have increased in nominal terms, we find that cash usage remains unchanged since 2020. Mobile and other alternative payment methods continue to grow in importance. The 2024 MOP Survey also collects new data on how consumers perceive bank note quality.

Suggested Citation

  • Marie-Hélène Felt & Anna Chernesky & Angelika Welte, 2025. "2024 Methods-of-Payment Survey Report: Cash in an Era of Alternatives," Discussion Papers 2025-12, Bank of Canada.
    • Handle: RePEc:bca:bocadp:25-12
    DOI: 10.34989/sdp-2025-12
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    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money

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