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Ditching the Physical Wallet, Canada’s Gen Z Prefers to Pay via Digital Methods

August 19, 2024 by Newsdesk

Gen Z in Canada has embraced the mobile wallet, with a majority often leaving their physical wallet at home. Use of the so-called “mobile wallet”—paying via smartphone or smartwatch versus a physical card—is most popular with Gen Z (60%), followed by Gen X (44%), Boomers (27%), and the Silent Gen (10%), according to transaction data from Interac and an online Ledger poll conducted by Hill & Knowlton.

“Choosing your default payment method may feel like a small step, but it can play a big role in shaping Canadians’ ongoing spending habits,” commented Glenn Wolff, Chief Client Officer at Interac.

Want to know more? Check out the source code on Fintech.ca.

Filed Under: News Tagged With: Financial Technology

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