The COVID-19 pandemic has accelerated the trend toward cashless payments, reports the Globe and Mail.
“Blame it on COVID, but I haven’t been going to the bank to take out money, especially when everyone prefers to take debit or credit over cash,” says Tracey Ho Lung, who frequents local businesses in her east Toronto neighbourhood. “It’s convenient and my wallet is much lighter.”
Advances in technology have made alternatives to cash simpler and more affordable options for small businesses. Calgary jewellery artist Mackenzie Jones uses Square, an app created by Twitter co-founder Jack Dorsey. It allows customers to plug their smartphone into a scanner and process payments electronically anywhere with cell phone service.
