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

President of the West Coast Fine Arts Show, Brian Croft, said pandemic restrictions necessitated a shift to an entirely online event this year, running until April 30. (File photo)
The West Fine Art Show shifts to an online-only event amid tighter health orders

Website version retains the flavour of the annual live exhibition

A vaccine-filled needle awaits injection, during a COVID-19 vaccination clinic held Jan. 15, 2021 at Amica White Rock. Community Living B.C.-funded workers learned April 8 that they, too, can now be vaccinated. (Tracy Holmes file photo)
Support workers for those with disabilities given vaccine priority

News shared with Community Living B.C.-funded staff on April 8

British Columbia Attorney General David Eby. (Photo: THE CANADIAN PRESS/Darryl Dyck)
Attorney General covers housing, homelessness and justice reform in Surrey Zoom

‘I think it would be really great to hold some sessions in Surrey,’ Eby says of legislative assembly

Scott Wheatley stands with the main Kenyan and Ugandan umpiring crew that he trained at the Nakirebe Complex outside of Kampala in 2020. Wheatley, a member-at-large with Softball B.C. is supporting a recent open letter from the sporting body that calls on the government to reinstate gameplay for kids in organized sports. (Photo: Submitted)
Softball B.C. urges provincial health officer to lift ban on gameplay for kids in organized sports

Sporting body sent open letter to both Bonnie Henry and Adrian Dix

Surrey Fire Service is on scene of a fire in the 12300-block of 72A Avenue Saturday morning (April 10). (Photo: Shane MacKichan)
Surrey crews on scene of house fire

It happened in the 12300-block of 72A Avenue

B.C. Health Minister Adrian Dix and Premier John Horgan describe vaccine rollout at the legislature, March 29, 2021. (B.C. government)
1,262 more COVID-19 infections in B.C. Friday, 9,574 active cases

Province’s mass vaccination reaches one million people

The 10-part Netflix series Maid, which is being exclusively shot in Greater Victoria, was filming near Prospect Lake in Saanich last month. (Photo courtesy Fred Haynes)
Province announces $150,000 towards South Island film studio, fulfilling B.C. NDP promise

Investment to fund movie studio feasibility study at Camosun College

Tyson Ginter, 7, is proud of his latest Hot Wheels he recently received by Quesnel RCMP Const. Matt Joyce. (Photo submitted)
B.C. Mountie handing out toy cars to light up children’s faces

‘A lot of times it will be the only interaction they have with the police,’ says Const. Matt Joyce

People stroll through rows of tulips in bloom during the Tulips of the Valley Festival on May 2, 2017. The colourful spring event, now called Chilliwack Tulips, opens on Sunday, April 11, 2021. (Jenna Hauck/ Chilliwack Progress file)
Fraser Valley tulip attraction returns this weekend for 1 month

More than 6.5 million bulbs in all at this year’s colourful Chilliwack Tulips event

Chief Public Health Officer Theresa Tam speaks during a technical briefing on the COVID pandemic in Canada, Friday, January 15, 2021 in Ottawa. THE CANADIAN PRESS/Adrian Wyld
Canada’s ICUs see near-record of COVID-19 patients last week as variant cases double

Last week, Canadian hospitals treated an average of 2,500 patients with COVID-19, daily, up 7% from the previous week

University of Victoria rowing coach Barney Williams at the University of Victoria in Victoria, B.C. THE CANADIAN PRESS/Chad Hipolito
UVic, women’s rowing coach deny former athlete’s allegation of verbal abuse

Lily Copeland alleges coach Barney Williams would stand close to her and speak aggressively in the sauna

Librarian Katie Burns with the Fraser Valley Regional Libraries poses for a photo in Chilliwack on June 18, 2019. Monday, April 12, 2021 is Library Workers’ Day. (Jenna Hauck/ Chilliwack Progress file)
Unofficial holidays: Here’s what people are celebrating for the week of April 11 to 17

Library Workers Day, That Sucks! Day, and Wear Your Pyjamas to Work Day are all coming up this week

Robinson Russ, 37, was fatally stabbed on April 4, according to a statement from police. THE CANADIAN PRESS/Darryl Dyck
Vancouver police name victim following city’s fourth homicide of 2021

Robinson Russ, 37, was fatally stabbed Sunday in the Downtown Eastside

Most Read