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Payments General

Contactless payments went up 30 percent in Canada, Moneris reveals

Monday 28 January 2019 | 02:02 PM CET

Contactless payment usage has registered a 30% growth in Canada, according to a new report from Moneris.

Contactless payments saw a 30.14% increase in volume and a 27.68% increase in transactions in the last quarter of 2018 over the same quarter in 2017.

While the company notes that the Q4 2018 increase marked smaller quarter-over-quarter growth, the total share of contactless payments remains on the rise. 47.75% of all transactions during Q4 2018 were made through contactless channels.

Altogether, Canadians’ overall expenditure during the holiday season rose by 3%. Quebec and British Columbia saw above-average increases of 5.4% and 4.1% in spend compared to 2017, while Saskatchewan and Newfoundland demonstrated drops of 4.5% and 3.2%, respectively. Ontario was around the national average with a 3.3% increase in spending over the same period in 2017.

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