New Research: How Retailers Are Adapting to Changing Checkout Trends

70% of retailers say pay-by-bank meets an unmet need  

Consumers expect more choice, lower costs, and stronger security—and retailers are racing to keep up. A new Interac Corp. (Interac) and Retail Council of Canada (RCC) survey finds that while 59% of retailers surveyed have boosted e-commerce investments, more than a third say current payment options don’t fully meet customer needs.

One major shift? 70% of retailers say pay-by-bank fills a critical gap—offering a cheaper, more secure, and seamless alternative to credit cards.


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“Pay-by-bank can give retailers a way to build loyalty and streamline transactions, while giving consumers more control and secure payment choices.”

–Diane J. Brisebois, President & CEO, Retail Council of Canada

Key Survey Insights:

ecommerce growing More payment choice, more sales

  • 80% of retailers say offering card-based payments and pay-by-bank improves customer experience, while
  • 33% say current digital payment solutions don’t fully meet customer needs.

ecommerce growing Investments in e-commerce are growing

  • 59% of have boosted e-commerce capabilities over the past two years
  • 69% believe improving digital payment solutions will drive better business outcomes

reducing payment fees Cutting costs is key

  • 59% of retailers prioritize reducing payment fees.
  • Pay-by-bank could lower costs, reduce fraud, and protect margins.

safe transaction fees Security builds trust

  • 83% of retailers want consumers to have more payment control
  • A bank-backed payment option offers safer transactions and greater consumer confidence.

See how retailers are adapting to the future of payments in Canada.

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