Canada is the most ready to become a cashless society: study
Posted November 21, 2014 11:51 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Have you noticed fewer people paying for things with cash? Do you even carry cash with you?
A new study looking at how ready 33 countries are to become cashless puts Canada in first, with Sweden coming second.
The US comes in eighth. Egypt was last.
The study by Mastercard looks at several factors to measure what countries have the best conditions for the shift away from paper and coins. Those include how likely large-scale merchants are to start using new ways of paying, and how intense local competition is.
How available financial services are is another factor taken into account.
As for how close Canada actually is to becoming cashless, we came in third, beat out by Belgium and France.
