A consumer group is urgently calling on the federal government to follow other jurisdictions in the U.S and Europe and bring in legislation to stem the slide toward a cashless society.

Only 10 per cent of transactions in Canada today are done using cash, according to Carlos Castiblanco, an economist with the group Option Consommateurs.

“There is a need to protect cash right now before more merchants start refusing [it],” Castiblanco recently told CBC Radio’s Ontario Today.

It’s critical to act now, he added, before retailers begin removing all the infrastructure required to store and maintain physical money.

  • T (they/she)@beehaw.org
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    4 months ago

    I find very interesting how Canada doesn’t have a bank controlled by the government that can provide affordable services.

    E-transfer is also something I think should be maintained by the government like Brazil’s Pix. I’d happily welcome Open Finance as well, but that might be harder.