SAN FRANCISCO—Is Canada ahead of the U.S in the movement toward a cashless society? A new study indicates that the majority of Canadians are putting away their cash and choosing to pay with plastic, even if merchants don’t agree.
The results from the study conducted by research firm Leger on behalf of mobile payments company Square revealed that 79% of Canadians prefer paying with a debit or credit card before using cash.
More than two-thirds of respondents said they'd be more likely to make a purchase from a small business if cards were accepted.
Yet, only 11% of small business owners said they believe cards are their customers' preferred payment method.