More than one billion Interac e-transfers were conducted by Canadians between April 2021 and April 2022, setting a new milestone, the company said.
It's the first time that number was reached in the 20 years the service has existed. Almost 90% of Canadians have sent cash by e-transfer, sharing $338 billion over the 12 month period. The numbers are from a recent survey by Interac about how different demographics are using the service.
“Each generation is navigating the changing economic conditions, and we see the rising trend in Canadians, especially younger ones, using their own money for the simple joys of shared experiences with friends and family,” Interac spokesperson William Keliehor said in a statement.
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