As the rise of non-cash payments continues to dominate the headlines in North America, as well as globally, the Canadian Convenience Store Association (CCSA) reports that despite the wide range of payment options available to consumers in Canada, cash is still one of the most popular methods for everyday usage in retail.
For low value transactions, cash is still the preferred method of payment for 51% of Canadians. This means that much like United States, Canada is not ready to become a cashless society any time soon. Throughout Canada, 94% of small businesses and 98% of large businesses accept cash as a method of payment. For businesses across Canada and North America to be able to cater to consumer expectations, they need to be willing to, and set up to, continue to accept cash for the foreseeable future.
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