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

South Shuswap. (Google Maps)
CSRD to ask school trustees to delay decision on Salmon Arm high school options

South Shuswap director advocating for Sorrento high school option

Elvira D’Angelo, 92, waits to receive her COVID-19 vaccination shot at a clinic in Montreal, Sunday, March 7, 2021, as the COVID-19 pandemic continues in Canada and around the world. THE CANADIAN PRESS/Graham Hughes
110 new cases of COVID-19 in Interior Health

Provincial health officers announced 1,005 new cases throughout B.C.

Public input on the City of Enderby’s proposed 2021 budget is open until 3:30 p.m. Monday, April 19, 2021. (City of Enderby photo)
Enderby’s proposed 2021 budget open for public input

The proposed spending plan includes a 2.2 per cent tax increase; public input open until Monday

Glenn Moyer is seeking space on a public wharf in Sicamous in order to restart his water taxi business after a year-long shutdown due to COVID-19. (Glenn’s Water Taxi/Facebook)
Water taxi operator requests public dock moorage in Sicamous

Glenn Moyer, a long time water taxi operator, is brimming with stories of life on the lake

Black Crow Cannabis is just one of Vernon's many pot shops now open in town. (Jennifer Smith - Morning Star)
Kelowna has highest cannabis fees in Okanagan

Vernon’s 14 stores pay second highest business licence fees

Flow Academy is located at 1511 Sutherland Avenue in Kelowna. (Michael Rodriguez - Capital News)
Black Press Media Weekly Roundup: Top headlines this week

Here’s a quick roundup of the stories that made headlines across the Okanagan, from April 11 to 16

Mervin Mascarenhas giving one of his pens to Honorary JP-MP. Premier David Burt of Bermuda. (Image: Mervin Mascarenhas)
Kelowna man who made $90K ‘Space Pen’ recognized by dignitaries, sheikhs

Mervin Mascarenhas is the first Canadian to grace the cover of Millennium Millionaire Magazine

The funeral of Britain’s Prince Philip in Windsor, England, on Saturday, April 17, 2021. Philip died April 9 at the age of 99. (Kirsty Wigglesworth/AP)
VIDEO: Prince Philip laid to rest Saturday as sombre queen sits alone

The entire royal procession and funeral took place out of public view within the grounds of Windsor Castle

B.C. Health Minister Adrian Dix and Premier John Horgan describe vaccine rollout at the legislature, March 29, 2021. (B.C. government)
B.C. health minister says delay in Moderna vaccine ‘disappointing’

‘The sooner we get vaccines in people’s arms the better, and inconsistency in delivery is a consistent problem. This is simply a reality and not an issue of blame,’ Adrian Dix said Friday

(Police handout/Kamloops RCMP)
B.C. man dies in custody awaiting trial for Valentine’s Day robbery, kidnapping spree

Robert James Rennie, who was on the Kamloops RCMP’s most wanted list, passed away at the North Fraser Pretrial Centre in Coquitlam

Photos of Vancouver Canucks players are pictured outside the closed box office of Rogers Arena in downtown Vancouver Thursday, April 8, 2021. THE CANADIAN PRESS/Jonathan Hayward
Canucks games against Leafs postponed as team returns from COVID-19

The team has had 11 games postponed since an outbreak late last month

Old English design elements can be seen in the sign of the Summerland Farm and Garden Centre in 1993. The guidelines are no longer in place, but some downtown businesses still show aspects of the days when Summerland had a theme in place. This photo was taken by Summerland photographer Dan Dorotich. (Photo courtesy of the Summerland Museum)
Summerland’s Old English theme has been abandoned

From the 1980s until the early 2000s, Summerland had design guidelines in its downtown

Penticton bylaw officers tore down a “pretty significantly sized” homeless camp underneath the bridge near Riverside Drive Friday, April 16 morning. (Brennan Phillips - Western News)
Penticton bylaw tears down ‘significantly sized’ homeless camp under bridge

Many residents had made complaints about the camp before it was torn down

Danita Bilozaze and her daughter Dani in Comox. Photo by Karen McKinnon
Island woman makes historic name change for truth and reconciliation

Becomes first person in Canada to be issued new passport under the TRC Calls to Action

Most Read