What is the most popular payment method in Canada?
Credit cards. They accounted for 33% of all retail payment transactions in 2024, ahead of debit cards at 30%, according to Payments Canada. At the point of sale, the Bank of Canada's 2025 survey puts credit at 48% of payments, Interac Debit and other debit at 25% and cash at 18%.
In detail
Credit cards. They accounted for 33% of all retail payment transactions in 2024, ahead of debit cards at 30%, according to Payments Canada. At the point of sale, the Bank of Canada's 2025 survey puts credit at 48% of payments, Interac Debit and other debit at 25% and cash at 18%.
Why credit leads
Rewards programs are popular, and many Canadians pay their balance in full each month. Contactless credit payments are accepted almost everywhere.
Interac Debit
Interac is Canada's domestic debit network. It is widely used in stores, including contactless, and increasingly in mobile wallets.
Online payments
Credit cards dominate e-commerce, with Interac options, PayPal and wallets also present.
Cash
Cash use continues to decline but remains part of everyday small purchases.
Mobile wallets
Apple Pay and Google Pay hold both credit cards and, at many banks, Interac Debit cards.
What it means for payment operators
For your merchants in Canada, credit cards and Interac options cover most shoppers, online and in store. Local acquiring and access to Interac through one platform help them meet these expectations.