Event summary produced by The Globe and Mail Events team. The Globe’s editorial department was not involved.
Even before the pandemic, cash was giving way to digital forms of payment such as tap, contactless and mobile apps. A 2019 Globe and Mail/Angus Reid poll found 70 per cent of Canadians between the ages of 26 and 37 were already cash-averse, and 57 per cent of Canadians over the age of 55 said they rarely carry cash.
The pandemic has made businesses and consumers even more interested in cashless payments due to the rise in e-commerce, and health and safety concerns related to handling money. The Globe and Mail hosted a panel discussion on December 7 to explore the benefits and downsides of a cashless society.
Missed the live event or would like to view it again? Scroll down to the video player, below.
The group discussed advantages including efficiency and reduced administration, and also considerations such as access and equality for Canadians who don’t have bank accounts or payment technology such as smartphones.
Sean Silcoff, technology reporter with The Globe and Mail moderated the event and hosted the following speakers:
- Mike Monty, director of enterprise sales with PayPal
- Jennifer Harper, founder and CEO of Cheekbone Beauty Cosmetics Inc.
- Radha Krishnan, vice-president of information services with Seneca
- Jessica Lynch, vice-president of strategy and development with stackt
View the full discussion (60 minutes) below:
The Globe and Mail presented the event with sponsor support from PayPal.