2022 North American PaymentsInsights, Canada: Significant Consumer Trends in Payments

After two years of pandemic related disruption, Canadians have never been more comfortable with leveraging technology for ease and convenience when interacting with financial institutions, merchants and peers.

The 2022 North American Payments Insights study demonstrates where Canadians keep their money, how they interact and manage with their financial accounts, and their comfort level with mobile security today.  Digital engagement that may have felt foreign to some two years ago has now become normalized.

This report is based on Mercator Advisory Group’s North American PaymentsInsights series annual survey. A web-based survey was fielded in 2022, using a Canadian online consumer research panel of adults aged 18 and older. The survey of 1,010 Canadian adults focused on trends in payments, prepaid/gift, credit, and debit card verticals, highlighting key consumer behaviors, perceptions, and attitudes.

The panel of  1,010 respondents supports a sampling error of +/– 1.8% at the 95% confidence level for questions asked of all respondents, as well as at many sub- segment levels designed to approximate a random sample.

The online questionnaire used for this study was developed by Mercator Advisory Group in consultation with our clients, which represent a range of payments industry stakeholders.