Payments Canada’s annual Canadian Payment Methods and Trends Report found that Canadians made 26.7 billion retail payment transactions worth CAD 12.9 trillion in 2025, with total value up 5.7% from 2024. Credit and debit cards accounted for 68% of payment volume, while electronic funds transfers represented 63% of value. The report also found that 52% of Canadians consider real-time payments appealing ahead of the planned Q4 2026 launch of Canada’s Real-Time Rail. Credit card transactions rose 7% to 11.6 billion, while contactless payment volume increased 9%, driven by a 12% rise in contactless credit card payments. E-commerce represented 6.1% of retail sales, and 26% of Canadians used buy now, pay later services, rising to 39% among those aged 18 to 34. Cryptocurrency payment use increased from 3% to 5% overall and from 4% to 10% among younger Canadians, while only 24% found agentic commerce appealing amid concerns about data security, purchasing decisions and fraud liability. The Real-Time Rail will support instant, data-rich payments around the clock, including potential applications such as gig worker payouts, small business settlements and supplier payments. Payments Canada projects that the infrastructure will generate CAD 5.3 billion to CAD 14.5 billion in cost savings and CAD 16 billion in total economic gains over 10 years, potentially rising to CAD 27 billion as additional capabilities are introduced.
Payments Canada reports card dominance and 52% consumer interest in real-time payments ahead of Q4 2026 rail launch
Payments Canada reported 26.7 billion retail transactions worth CAD 12.9 trillion in 2025, with cards accounting for 68% of volume and electronic funds transfers for 63% of value. Real-time payments appealed to 52% of Canadians ahead of the Real-Time Rail’s planned Q4 2026 launch. Contactless, buy now, pay later and cryptocurrency use grew, while consumers remained skeptical of agentic commerce.