Summertime could see local economies flourish
So far, 2025 has brought with it an outsized serving of economic uncertainty and turmoil. However, one aspect of Canada’s immediate economic future that doesn’t seem to be in doubt is its citizens’ support of local business. A recent survey from TD Bank Group found 89% of Canadians feel its important to support the domestic economy this summer, with 64% planning to travel within Canada in the coming months. "It's encouraging to hear that Canadians are planning to support local small businesses as part of their vacation plans this summer, as it helps both entrepreneurs and our local economies," Julia Kelly, vice-president of small business banking at TD, said in a statement. "It's particularly welcome news, as many of our small business customers have been concerned about consumer spending slowing down."
So far, 2025 has brought with it an outsized serving of economic uncertainty and turmoil. However, one aspect of Canada’s immediate economic future that doesn’t seem to be in doubt is its citizens’ support of local business. A recent survey from TD Bank Group found 89% of Canadians feel its important to support the domestic economy this summer, with 64% planning to travel within Canada in the coming months. "It's encouraging to hear that Canadians are planning to support local small businesses as part of their vacation plans this summer, as it helps both entrepreneurs and our local economies," Julia Kelly, vice-president of small business banking at TD, said in a statement. "It's particularly welcome news, as many of our small business customers have been concerned about consumer spending slowing down."
Best combinations for credit cards
Monogamy is a pleasant concept in theory. But can we really expect any one credit card to satisfy all our needs? Rather than committing to one card only, cash back and rewards gurus carefully combine two or more complementary cards to fill in the others’ weaknesses. We created hypothetical spending profiles for different types of Canadian consumers and ran the numbers to select the best credit card combinations for earning optimal cash back and rewards, without sacrificing the essential card features you need. When reviewing the below, keep in mind that we’re focusing on long-term, multi-year value, so we didn’t factor the cards’ welcome offers into our calculations. Some of the spending profiles we created are for couples or families; others are for singles (we noted which is which). Because some credit cards are exceptionally strong for different types of spenders, they may appear in multiple categories. Now, without further ado:
Monogamy is a pleasant concept in theory. But can we really expect any one credit card to satisfy all our needs? Rather than committing to one card only, cash back and rewards gurus carefully combine two or more complementary cards to fill in the others’ weaknesses. We created hypothetical spending profiles for different types of Canadian consumers and ran the numbers to select the best credit card combinations for earning optimal cash back and rewards, without sacrificing the essential card features you need. When reviewing the below, keep in mind that we’re focusing on long-term, multi-year value, so we didn’t factor the cards’ welcome offers into our calculations. Some of the spending profiles we created are for couples or families; others are for singles (we noted which is which). Because some credit cards are exceptionally strong for different types of spenders, they may appear in multiple categories. Now, without further ado:
Canadian airports add over $123B to economy
Even amid global uncertainty and economic shifts, Canada’s airports continue to prove their vital role in the nation’s prosperity. A new study from the Canadian Airports Council (CAC) found that 61 airports across the country supported 435,800 full-time jobs and generated a total economic output of $123.5 billion in 2024. “At a time of global uncertainty and economic change, this report reaffirms what our members and communities have long understood: Airports are not only essential transportation hubs but also powerful economic engines,” Monette Pasher, president of the CAC, said in a statement. “They are essential to ensuring that Canada remains connected, competitive and ready to meet the challenges of a shifting global environment.”
Even amid global uncertainty and economic shifts, Canada’s airports continue to prove their vital role in the nation’s prosperity. A new study from the Canadian Airports Council (CAC) found that 61 airports across the country supported 435,800 full-time jobs and generated a total economic output of $123.5 billion in 2024. “At a time of global uncertainty and economic change, this report reaffirms what our members and communities have long understood: Airports are not only essential transportation hubs but also powerful economic engines,” Monette Pasher, president of the CAC, said in a statement. “They are essential to ensuring that Canada remains connected, competitive and ready to meet the challenges of a shifting global environment.”
Wine sales dry up at the LCBO
It’s been a sobering spring for Ontario’s wine scene. Sales at the LCBO dropped 13% from early March to early June compared to the same period last year, marking a sharp decline that’s left both wine lovers and vintners swirling their glasses with concern. Before the recent trade tensions, the LCBO was already tracking shifting consumer habits: Ontarians embraced moderation, gravitated toward lighter wine styles like rosés and whites, and fueled a surge in ready-to-drink cocktails and smaller-format bottles. These trends were highlighted in the LCBO’s 2023 and 2024 reports as key factors shaping drinking preferences.
It’s been a sobering spring for Ontario’s wine scene. Sales at the LCBO dropped 13% from early March to early June compared to the same period last year, marking a sharp decline that’s left both wine lovers and vintners swirling their glasses with concern. Before the recent trade tensions, the LCBO was already tracking shifting consumer habits: Ontarians embraced moderation, gravitated toward lighter wine styles like rosés and whites, and fueled a surge in ready-to-drink cocktails and smaller-format bottles. These trends were highlighted in the LCBO’s 2023 and 2024 reports as key factors shaping drinking preferences.
Litigation costs affecting commercial insurance
Suing a person or a company is often easier said than done, at least in Canada. It takes a lot of effort, money and time. But according to a new report from global law firm Dentons LLP, third-party investors are using the Canadian court system to profit on lawsuits. "Law firms are increasingly using third-party litigation funding to pay to pursue claims that would likely not be pursued otherwise," Liam McGuinty, the Insurance Bureau of Canada’s (IBC) vice-president of strategy, said in a statement. "Competitive insurance markets work best for consumers when they are supported by clear legal frameworks and efficient regulatory systems. In Canada, litigation funding remains a speculative financial industry that is largely unregulated. Left unchecked, this could impact Canada's property and casualty commercial insurance market and potentially affect the cost of commercial insurance."
Suing a person or a company is often easier said than done, at least in Canada. It takes a lot of effort, money and time. But according to a new report from global law firm Dentons LLP, third-party investors are using the Canadian court system to profit on lawsuits. "Law firms are increasingly using third-party litigation funding to pay to pursue claims that would likely not be pursued otherwise," Liam McGuinty, the Insurance Bureau of Canada’s (IBC) vice-president of strategy, said in a statement. "Competitive insurance markets work best for consumers when they are supported by clear legal frameworks and efficient regulatory systems. In Canada, litigation funding remains a speculative financial industry that is largely unregulated. Left unchecked, this could impact Canada's property and casualty commercial insurance market and potentially affect the cost of commercial insurance."
Save now or pay later: Helping kids avoid debt
It’s hard to believe it now, but your child will eventually become an independent grown-up with their own career, hobbies, and bills. Why not give them a running start into financial adulthood? Planning for your child’s financial future might feel overwhelming, but even small steps today can make a big difference tomorrow. Whether you’re dreaming of funding their education, helping with a wedding, or giving them a leg up in the housing market, now is the time to get started. Any amount you set aside for major milestones will make their life easier later on, but they’ll really thank you down the road if you take a little time now to figure out the specifics of what, where and how to save for them. Below are four smart strategies Canadian parents can use to build long-term financial security for their children — without sacrificing their own retirement goals.
It’s hard to believe it now, but your child will eventually become an independent grown-up with their own career, hobbies, and bills. Why not give them a running start into financial adulthood? Planning for your child’s financial future might feel overwhelming, but even small steps today can make a big difference tomorrow. Whether you’re dreaming of funding their education, helping with a wedding, or giving them a leg up in the housing market, now is the time to get started. Any amount you set aside for major milestones will make their life easier later on, but they’ll really thank you down the road if you take a little time now to figure out the specifics of what, where and how to save for them. Below are four smart strategies Canadian parents can use to build long-term financial security for their children — without sacrificing their own retirement goals.
7 smart ways to save more and beat inflation
According to Statistics Canada, the current inflation rate is 1.7% and BMO as well as other bank analysts are predicting the nation’s inflation rate will continue to hover around the 2% target rate throughout 2025. While these rates are lower than some we’ve seen in recent years, it’s certainly not negligible, especially if you’re still trying to catch up from the impact higher inflation rates had on your monthly budget — rising costs that started to climb in 2020 and continued until late 2024. What can you do? A good strategy for fighting back is to take advantage of some simple ways to stretch your money, and make more of it. Here are seven ideas for putting some padding in your budget, so you can show inflation who's boss.
According to Statistics Canada, the current inflation rate is 1.7% and BMO as well as other bank analysts are predicting the nation’s inflation rate will continue to hover around the 2% target rate throughout 2025. While these rates are lower than some we’ve seen in recent years, it’s certainly not negligible, especially if you’re still trying to catch up from the impact higher inflation rates had on your monthly budget — rising costs that started to climb in 2020 and continued until late 2024. What can you do? A good strategy for fighting back is to take advantage of some simple ways to stretch your money, and make more of it. Here are seven ideas for putting some padding in your budget, so you can show inflation who's boss.
Making cities better for pets — and people
Imagine a city where walking your dog doesn’t feel like an obstacle course. Where parks welcome pets, sidewalks have shade and grabbing a coffee doesn’t mean leaving your furry friend tied up outside. That’s the kind of city Mars Inc. — the chocolate and pet food giant — hopes to help build through its expanded Better Cities for Pets program. Launched globally this week with the help of C40 Cities (a major network of mayors committed to climate action), the program is looking to make cities more pet-friendly — and greener — by 2030. At the crux of the idea is to create healthier, more welcoming places for pets and people.
Imagine a city where walking your dog doesn’t feel like an obstacle course. Where parks welcome pets, sidewalks have shade and grabbing a coffee doesn’t mean leaving your furry friend tied up outside. That’s the kind of city Mars Inc. — the chocolate and pet food giant — hopes to help build through its expanded Better Cities for Pets program. Launched globally this week with the help of C40 Cities (a major network of mayors committed to climate action), the program is looking to make cities more pet-friendly — and greener — by 2030. At the crux of the idea is to create healthier, more welcoming places for pets and people.
GTA residents sound the alarm bell on auto thefts
It’s natural to worry about your car – it’s an expensive, personal and depreciating asset. In some areas of Canada, that concern may be doubly justified. New data from the Insurance Bureau of Canada (IBC) confirms Ontario remains in the midst of an auto theft crisis, with the number of insurance claims up 165% since 2017 and the costs to service those claims up a staggering 538%. As well, according to a new Pollara Strategic Insights poll commissioned by IBC, 63% of GTA residents live in fear of their vehicle being stolen and more than half (56%) reporting that the crisis is affecting their community. "We still have a long way to go to effectively curb auto theft in the province," Amanda Dean, IBC vice-president, Atlantic and Ontario, said in a statement. "The Ontario and federal government's efforts to tackle auto theft are both commendable and were reflected in the decline in claims costs in 2024. But the crisis persists and requires continued leadership and focus."
It’s natural to worry about your car – it’s an expensive, personal and depreciating asset. In some areas of Canada, that concern may be doubly justified. New data from the Insurance Bureau of Canada (IBC) confirms Ontario remains in the midst of an auto theft crisis, with the number of insurance claims up 165% since 2017 and the costs to service those claims up a staggering 538%. As well, according to a new Pollara Strategic Insights poll commissioned by IBC, 63% of GTA residents live in fear of their vehicle being stolen and more than half (56%) reporting that the crisis is affecting their community. "We still have a long way to go to effectively curb auto theft in the province," Amanda Dean, IBC vice-president, Atlantic and Ontario, said in a statement. "The Ontario and federal government's efforts to tackle auto theft are both commendable and were reflected in the decline in claims costs in 2024. But the crisis persists and requires continued leadership and focus."
Loblaws move could lower grocery prices in Canada
In a move hailed as a win for consumer choice and market fairness, Loblaw Companies Ltd. (TSX:L) has announced it will eliminate restrictive property controls that have limited grocery competition in Canada. The Competition Bureau welcomed the decision, calling it a “key milestone” that could help drive down food prices by allowing more retailers to enter local markets.
In a move hailed as a win for consumer choice and market fairness, Loblaw Companies Ltd. (TSX:L) has announced it will eliminate restrictive property controls that have limited grocery competition in Canada. The Competition Bureau welcomed the decision, calling it a “key milestone” that could help drive down food prices by allowing more retailers to enter local markets.
Ben Mallah's tips on becoming a millionaire
Real estate mogul and YouTube personality, Ben Mallah, epitomizes a classic rags-to-riches story. Raised in the projects of Queens, New York, he defied the odds to build a US$500 million real estate empire. Mallah’s journey began with a sharp eye for overlooked opportunities, starting in “the tough neighborhoods of Oakland,, California, ” where he invested in properties “nobody else wanted.” Today, Mallah’s empire has evolved far beyond those humble beginnings. During an appearance on The Iced Coffee Hour podcast with Graham Stephan and Jack Selby, Mallah described the backbone of his current portfolio: “Today, we’re sitting on a very large portfolio of what I like to call ‘necessity real estate,’ or ‘essential real estate.’” He elaborated further, explaining, “I like retail, but I like retail that the internet can't hurt, Amazon can't hurt. I like food. I like necessity services like hair, nails, food, good, strong restaurants, dentists, medical… things that people can't go online and accomplish.” As e-commerce continues to disrupt traditional retail, Mallah’s focus on essential, in-person services offers a blueprint for resilience. By investing in businesses tied to basic needs, he’s built a portfolio that stands strong against the forces reshaping the consumer landscape. And the best part? You don’t need $500 million to start adopting Mallah’s proven strategy.
Real estate mogul and YouTube personality, Ben Mallah, epitomizes a classic rags-to-riches story. Raised in the projects of Queens, New York, he defied the odds to build a US$500 million real estate empire. Mallah’s journey began with a sharp eye for overlooked opportunities, starting in “the tough neighborhoods of Oakland,, California, ” where he invested in properties “nobody else wanted.” Today, Mallah’s empire has evolved far beyond those humble beginnings. During an appearance on The Iced Coffee Hour podcast with Graham Stephan and Jack Selby, Mallah described the backbone of his current portfolio: “Today, we’re sitting on a very large portfolio of what I like to call ‘necessity real estate,’ or ‘essential real estate.’” He elaborated further, explaining, “I like retail, but I like retail that the internet can't hurt, Amazon can't hurt. I like food. I like necessity services like hair, nails, food, good, strong restaurants, dentists, medical… things that people can't go online and accomplish.” As e-commerce continues to disrupt traditional retail, Mallah’s focus on essential, in-person services offers a blueprint for resilience. By investing in businesses tied to basic needs, he’s built a portfolio that stands strong against the forces reshaping the consumer landscape. And the best part? You don’t need $500 million to start adopting Mallah’s proven strategy.
Ultra rich made $2B — Grab these 6 money moves
The 39th annual Forbes billionaire list is out, and it’s a jaw-dropper. The number of billionaires has surged to 3,028, a record. Together, these individuals hold a staggering US$16.1 trillion in wealth, up US$2 trillion from last year. More than 100 Forbes reporters dove deep into financial data to assemble this list, including stocks, investments and cash flows, along with more eccentric billionaire purchases such as yachts, art collections and even dinosaur bones. The U.S. holds first place with 902 billionaires, followed by China and Hong Kong (516), and India (205). The wealthiest are led by Elon Musk, with US$342 billion, followed by Mark Zuckerberg at US$216 billion, and Jeff Bezos at US$215 billion. Rounding out the top 10 are heavyweights including Warren Buffett, Larry Ellison and LVMH's Bernard Arnault. In short, the billionaire game is booming. Want in on the action? You may want to take notes from the world’s richest.
The 39th annual Forbes billionaire list is out, and it’s a jaw-dropper. The number of billionaires has surged to 3,028, a record. Together, these individuals hold a staggering US$16.1 trillion in wealth, up US$2 trillion from last year. More than 100 Forbes reporters dove deep into financial data to assemble this list, including stocks, investments and cash flows, along with more eccentric billionaire purchases such as yachts, art collections and even dinosaur bones. The U.S. holds first place with 902 billionaires, followed by China and Hong Kong (516), and India (205). The wealthiest are led by Elon Musk, with US$342 billion, followed by Mark Zuckerberg at US$216 billion, and Jeff Bezos at US$215 billion. Rounding out the top 10 are heavyweights including Warren Buffett, Larry Ellison and LVMH's Bernard Arnault. In short, the billionaire game is booming. Want in on the action? You may want to take notes from the world’s richest.
What is a credit card grace period?
A credit card grace period is the amount of time between when the credit card company tallies your purchases each month and the date your payment is due. If used responsibly, your credit cards are a valuable tool to build credit and earn rewards. But most cards have a lesser-known benefit that is a big help for large purchases. The trick is taking control of your billing cycle. Most cards have what’s called a grace period. It’s not like the extra days some mortgage lenders offer to get your monthly payment in. It’s simply the amount of time your card issuer gives you to pay your balance after the company tallies your purchases each month. If you understand this cycle, then you’ll have an advantage when you’re shopping for big-ticket items (a widescreen TV, new car tires) or making a large payment with your card (your child’s tuition, a car down payment). And if you don’t master your card’s grace period, your new but super-necessary refrigerator can easily cost you punishing interest charges.
A credit card grace period is the amount of time between when the credit card company tallies your purchases each month and the date your payment is due. If used responsibly, your credit cards are a valuable tool to build credit and earn rewards. But most cards have a lesser-known benefit that is a big help for large purchases. The trick is taking control of your billing cycle. Most cards have what’s called a grace period. It’s not like the extra days some mortgage lenders offer to get your monthly payment in. It’s simply the amount of time your card issuer gives you to pay your balance after the company tallies your purchases each month. If you understand this cycle, then you’ll have an advantage when you’re shopping for big-ticket items (a widescreen TV, new car tires) or making a large payment with your card (your child’s tuition, a car down payment). And if you don’t master your card’s grace period, your new but super-necessary refrigerator can easily cost you punishing interest charges.
Oasis portrait up for grabs at Sotheby’s auction
What’s the story, morning glory? It turns out, a highly anticipated auction is set to take place at Sotheby's London this month, featuring a remarkable portrait of Oasis frontmen Liam and Noel Gallagher. The painting, created by Elizabeth Peyton in 1996, carries an estimated value between £1.5m and £2m (that’s C$2.7m to C$3.6m).
What’s the story, morning glory? It turns out, a highly anticipated auction is set to take place at Sotheby's London this month, featuring a remarkable portrait of Oasis frontmen Liam and Noel Gallagher. The painting, created by Elizabeth Peyton in 1996, carries an estimated value between £1.5m and £2m (that’s C$2.7m to C$3.6m).
Canada Post strike fuels fintech, delivery gains
A Canada Post strike is most definitely a labour and distribution issue, but for smart investors this strike is also a chance to spot early trends, test company resilience and even uncover hidden opportunities in the investing market. Whether you're new to investing or already building a portfolio, here’s what to watch — and how to position yourself during a postal disruption.
A Canada Post strike is most definitely a labour and distribution issue, but for smart investors this strike is also a chance to spot early trends, test company resilience and even uncover hidden opportunities in the investing market. Whether you're new to investing or already building a portfolio, here’s what to watch — and how to position yourself during a postal disruption.
Ramsey vs. Orman: Whose retirement advice is best
The 4% rule in retirement has been a widely accepted retirement standard for over 30 years. The rule states that you should draw 4% of your assets from your investments each year in retirement. This should, in theory, allow you to maintain a comfortable standard of living while continuing to let your investments appreciate in value. However, it seems this longstanding rule could be poised to fall. A recently retired caller to The Ramsey Show asked host and finance personality, Dave Ramsey, if it would be safe to go up to a 5% withdrawal rate in order to pay for trips he and his wife wanted to take in early retirement. Ramsey has said he believes that retirees can earn up to a 12% annual return from mutual funds, and will therefore be safe to withdraw more than the standard 4% per year without jeopardizing their nest egg. He calls the standard rule “absolutely wrong” and “ridiculous.” But another finance celeb has a very different opinion. Suze Orman has called the classic 4% rule “very dangerous.” Orman, a fellow best-selling author and expert, has once called for a tweak to the 4% rule — saying that retirees should only withdraw a maximum of 3% yearly if they are retiring in their 60s. Who’s right? Here’s what to consider.
The 4% rule in retirement has been a widely accepted retirement standard for over 30 years. The rule states that you should draw 4% of your assets from your investments each year in retirement. This should, in theory, allow you to maintain a comfortable standard of living while continuing to let your investments appreciate in value. However, it seems this longstanding rule could be poised to fall. A recently retired caller to The Ramsey Show asked host and finance personality, Dave Ramsey, if it would be safe to go up to a 5% withdrawal rate in order to pay for trips he and his wife wanted to take in early retirement. Ramsey has said he believes that retirees can earn up to a 12% annual return from mutual funds, and will therefore be safe to withdraw more than the standard 4% per year without jeopardizing their nest egg. He calls the standard rule “absolutely wrong” and “ridiculous.” But another finance celeb has a very different opinion. Suze Orman has called the classic 4% rule “very dangerous.” Orman, a fellow best-selling author and expert, has once called for a tweak to the 4% rule — saying that retirees should only withdraw a maximum of 3% yearly if they are retiring in their 60s. Who’s right? Here’s what to consider.
Canadians defaulting on non-mortgage bill payments
The financial strain on Canadians has reached unprecedented levels recently, with metropolitan centres such as Toronto and Vancouver experiencing dramatic increases in living costs. These elevated expenses continue to burden residents across the country. Toronto's Greater Area (GTA) residents are particularly impacted, with new research from Oxford Economics revealing that they dedicate a larger portion of their income to housing costs, more than almost any other major city globally. This sobering statistic highlights the severity of the region's affordability crisis. As a direct consequence of these financial pressures, Ontario has witnessed a concerning rise in mortgage delinquencies and missed bill payments, signaling growing economic distress among its residents.
The financial strain on Canadians has reached unprecedented levels recently, with metropolitan centres such as Toronto and Vancouver experiencing dramatic increases in living costs. These elevated expenses continue to burden residents across the country. Toronto's Greater Area (GTA) residents are particularly impacted, with new research from Oxford Economics revealing that they dedicate a larger portion of their income to housing costs, more than almost any other major city globally. This sobering statistic highlights the severity of the region's affordability crisis. As a direct consequence of these financial pressures, Ontario has witnessed a concerning rise in mortgage delinquencies and missed bill payments, signaling growing economic distress among its residents.
Nova Scotia couple loses $30K in cyberattack
With digital banking a ubiquitous norm for almost all Canadians, we can access our finances at the click of a button. Unfortunately, so can thieves and bad actors — if they have the right information. On May 15, Diane and Michael Betts found their Manulife line of credit missing $30,000 and a $500 charge on their Mastercard, both of which they were not aware of. Upon finding the money missing, Diane immediately called Manulife, who informed her that their account was accessed the day before by someone claiming to be her with all the relevant information on hand. They were stupefied. “We were in absolute shock,” Diane told CTV News, adding, “We’ve never been in debt — and suddenly we owe $30,000. It wasn’t our mistake.” They had no idea how the money had left their account, until they received a letter from Nova Scotia Power — their utility company — that gave them new information.
With digital banking a ubiquitous norm for almost all Canadians, we can access our finances at the click of a button. Unfortunately, so can thieves and bad actors — if they have the right information. On May 15, Diane and Michael Betts found their Manulife line of credit missing $30,000 and a $500 charge on their Mastercard, both of which they were not aware of. Upon finding the money missing, Diane immediately called Manulife, who informed her that their account was accessed the day before by someone claiming to be her with all the relevant information on hand. They were stupefied. “We were in absolute shock,” Diane told CTV News, adding, “We’ve never been in debt — and suddenly we owe $30,000. It wasn’t our mistake.” They had no idea how the money had left their account, until they received a letter from Nova Scotia Power — their utility company — that gave them new information.
Canadians are saving money this summer
Summertime is upon us, and with that comes the season of spending on new bathing suits, cottage getaways and drinks on the patio — at least for some. A recent poll by CIBC found that 67% of Canadians are focused on saving money rather than spending this summer, allocating most of their cash to everyday expenses like gas and groceries. Additionally, 46% said they are actively trying to reduce their daily spending.
Summertime is upon us, and with that comes the season of spending on new bathing suits, cottage getaways and drinks on the patio — at least for some. A recent poll by CIBC found that 67% of Canadians are focused on saving money rather than spending this summer, allocating most of their cash to everyday expenses like gas and groceries. Additionally, 46% said they are actively trying to reduce their daily spending.
13% of Canadians ditch cash for digital payments
The days of digging through your wallet for cash or cards are quickly disappearing. In a world dominated by smartphones and digital convenience, mobile payment apps are now at the forefront of how Canadians spend. In 2023, over 36% of Canadians used a mobile payment method at least once a week — nearly double the rate from five years ago — and more than 1 in 10 (13%) of Canadians no longer use cash. With tap-to-pay terminals now nearly universal and digital wallets integrated into almost every new phone, it’s clear that mobile payments are no longer just a trend — they’re the norm.
The days of digging through your wallet for cash or cards are quickly disappearing. In a world dominated by smartphones and digital convenience, mobile payment apps are now at the forefront of how Canadians spend. In 2023, over 36% of Canadians used a mobile payment method at least once a week — nearly double the rate from five years ago — and more than 1 in 10 (13%) of Canadians no longer use cash. With tap-to-pay terminals now nearly universal and digital wallets integrated into almost every new phone, it’s clear that mobile payments are no longer just a trend — they’re the norm.
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