In 2023, the value per inhabitant of cheque payments in Canada stood at approximately $36 thousand USD. From 2024 to 2028, forecasted data indicates a consistent decline from $33.97 thousand USD to $23.08 thousand USD, reflecting a downward trend.
The year-on-year percentage change predicts a gradual decrease, averaging at approximately 7-8% annually. The 5-year CAGR indicates a steady decline in the value of cheque payments, averaging around -7.4% per year.
Future trends to watch include the continued shift towards digital and electronic payment methods, impacting the value and volume of cheque usage. Monitoring advancements in fintech and changes in consumer payment behavior will be essential.
