Tap And Go Payments through the Roof

Moneris reports massive increase in tap and go payments

A new report released this week from debit and credit payment processing company Moneris provides a revealing snapshot of Canadian consumer behaviour. Not only does consumer spending continue to rise, their preference for convenient methods of payment has skyrocketed.

Some key findings in the Moneris report include:

  • Tap and go payments have shot up a staggering 162 per cent, year-over-year
  • Consumer spending increased by 6.68 per cent in Q3 2015
  • This marks the fourth quarter in a row that spending has risen, resulting in a full year of increases
  • Credit use and debit use climbed, year-over-year, responsible for 63 and 37 per cent of total purchases respectively

What does this mean? Clearly, Canadians favour convenience when it comes to their shopping. While convenience is a great support in terms of time management, it can spell debt disaster if consumers don’t pause to think about the long term impact of their immediate actions.

Responsible debt management has a lot to do with patience and good decision-making when it comes to purchases. When you condense the steps between choosing an item to purchase and buying it, there is less opportunity to think through the consequences of your actions,” says Jeff Schwartz, executive director at the Consolidated Credit Counseling Services of Canada.

Not only does fast and easy payment contribute to spending beyond your means, it also makes it much harder to keep track and stick to your budget.”

Canadians consumers need to slow it down – both in their actual spending and in their behaviour around making purchases.

Pick your plastic

While there is no denying the convenience benefits of credit and debit cards, they can easily become tools that ramp up your debt load. Commit to a cash lifestyle. While it is perhaps less convenient, it means you’re not accumulating debt – which means you don’t have to pay interest.

If you must use plastic, use your debit card over your credit card. Only use it in place of cash that you’ve earmarked for specific spending in your budget. Once it’s gone it’s gone.


When you combine impulse-shopping and the ability to whip right through the checkout, things can get out of hand before you even know it.

Make it a practice to implement a process before you make a purchase, based on needs and wants. Ask yourself a series of questions. Do I need this or do I want this? Is there room in my budget for this? What will happen when I bring this home? What will happen if I buy now and plan to pay later (i.e. use my credit card)? Is this something I can save up for and buy in cash next month?

Giving yourself some extra time in the aisle and extra time at the checkout will support responsible decision making.

Limit tapping

If you are using credit for tap and go payments, limit your usage.

Tap-and-go usually implements a purchase limit (which varies depending on the individual card). Set your own lower limit, which you’ve accounted for in your budget. Another way to control tapping is to use it for specific purchases (i.e. gas at the pump) only.


Are you liking the convenience of plastic payment, but finding that your preferences are creating debts? Is it time to re-tool your budget and get out of debt? We can help. Call one of our trained credit counsellors 1-888-294-3130 or check out our free online debt analysis tool to get started.

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