Canadian currency. (File photo)

Canadian currency. (File photo)

One in five B.C. transactions being paid in cash

Province uses cards more than Ontario or Quebec, but is also home to Canada’s most cash-friendly city

Touchless transactions became even more important in 2020, but B.C.’s capital city has been slow to let go of its cold hard cash.

Square, a credit card processing and payment company, released a report Tuesday analyzing local commerce across Canada. The data reveals that Victoria is full of a cash-carrying shoppers, topping the national list of cities with 31 per cent of payments made with cash. It comes ahead of Surrey and Winnipeg, both with 30 per cent of payments made with cash.

The capital is bucking the provincial trend however. Only 20 per cent of payments in B.C. are made with cash, putting the province behind Ontario and Quebec – 24 per cent and 32 per cent respectively.

READ ALSO: COVID-19: Local business support effort goes province-wide in B.C.

The Square report says two out of three Canadian businesses now sell online, adapting to the COVID-19 pandemic. While the number of Canadian businesses selling online rose from 41 per cent to 61 per cent, B.C. has the second lowest number of businesses going digital in the country, with 57 per cent selling items online, compared to 61 per cent in Alberta and 79 per cent in Saskatchewan.

Surrey has the fewest number of businesses offering online sales, with just 47 per cent of businesses selling online. Surrey also have the fewest number of cashless businesses, despite a growing number of Canadian businesses no longer accepting cash payment. In fact, one in five local businesses no longer accept cash, compared to one in 20 just last year.

In February, the B.C. government offered small businesses up to $7,500 each to build or upgrade their online sale portals to help through the remainder of pandemic restrictions.

For more news from Vancouver Island and beyond delivered daily into your inbox, please click here.

READ ALSO: B.C. offers $7,500 grants for small business online sales help

With files from Tom Fletcher.


Do you have a story tip? Email: vnc.editorial@blackpress.ca.

Follow us on Twitter and Instagram, and like us on Facebook.

British ColumbiaFinance

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

B.C. Finance Minister Selina Robinson outlines the province’s three-year budget in Victoria, April 20, 2021. (B.C. government video)
B.C. deficit to grow by $19 billion for COVID-19 recovery spending

Pandemic-year deficit $5 billion lower than forecast

Chief Constable Norm Lipinski, Surrey Police Service. (Submitted photo)
Surrey Police Service to begin public consultation late June, early July

Community input, chief constable says, ‘will occur’

Surrey RCMP reunited three stolen puppies with their mom. (RCMP handout)
Puppies stolen from South Surrey home located, reunited with mom

Surrey RCMP said they found the stolen puppies on April 16

Welcome to your park sign marks the spot where 84th Avenue will continue east from King George Boulevard 
to 140th Street as part of a $13 million road project. (Photo: Tom Zytaruk)
Road Rage: Opposition mounts anew to Surrey’s plan for 84 Ave. at south end of Bear Creek Park

Same place, same project, same fight as Surrey prepares once again to connect 84th Avenue between King George and 140th Street in Newton

Mak Parhar speaks at an anti-mask rally outside the Vancouver Art Gallery on Sunday, Nov. 1, 2020. Parhar was arrested on Nov. 2 and charged with allegedly violating the Quarantine Act after returning from a Flat Earth conference held in Geenville, South Carolina on Oct. 24. (Flat Earth Focker/YouTube.com screenshot)
Judge tosses lawsuit of B.C. COVID-denier who broke quarantine after Flat Earth conference

Mak Parhar accused gov, police of trespass, malfeasance, extortion, terrorism, kidnapping and fraud

FILE – NDP Leader John Horgan, right, and local candidate Mike Farnworth greet one another with an elbow bump during a campaign stop in Coquitlam, B.C., on Friday, September 25, 2020. THE CANADIAN PRESS/Darryl Dyck
B.C. won’t be using random individual road stops to enforce travel rules: Safety Minister

Minister Mike Farnworth says travel checks only being considered at major highway junctions, ferry ports

A man pauses at a coffin after carrying it during a memorial march to remember victims of overdose deaths in Vancouver. THE CANADIAN PRESS/Darryl Dyck
B.C. announces historic half-billion-dollar funding for overdose crisis, mental health

Of it, $152 million will be used to address the opioid crisis and see the creation of 195 new substance use treatment beds

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Children’s backpacks and shoes are seen at a CEFA (Core Education and Fine Arts) Early Learning daycare franchise, in Langley, B.C., on Tuesday May 29, 2018. THE CANADIAN PRESS/Darryl Dyck
B.C. budget to expand $10-a-day child care, but misses the mark on ‘truly universal’ system

$111 million will be used to fund 3,750 new $10-a-day spaces though 75 additional ChildCareBC universal prototype sites over the next three years.

John Wekking, Merritt Road Report - Facebook
 Coquihalla Road Report
Wildfire sparks off Coquihalla in Merritt

The wildfire is located near the Dollarama off of Highway 5

Ambulance paramedic in full protective gear works outside Lion’s Gate Hospital, March 23, 2020. Hospitals are seeing record numbers of COVID-19 patients more than a year into the pandemic. (The Canadian Press)
B.C.’s COVID-19 infection rate declines, 849 cases Tuesday

Up to 456 people now in hospital, 148 in intensive care

Christy Clark, who was premier from 2011 to 2017, is the first of several present and past politicians to appear this month before the Cullen Commission, which is investigating the causes and impact of B.C.’s money-laundering problem over the past decade. (Darryl Dyck/Canadian Press)
Christy Clark says she first learned of money-laundering spike in 2015

The former B.C. premier testified Tuesday she was concerned the problem was ‘apparently at an all-time high’

Most Read