Interac forecasts 25 million debit transactions on December 22

Interac believes December 22nd will be 2017’s busiest shopping day. This data comes from a retrospective look at information gathered from December 2016.

According to Interac, Canadians made over 24 million transactions and spent $1.2 billion on Friday, December 23rd, 2016, which beats the year’s previous total by 19 percent.

Interac projects there will be 25 million debit transactions on Friday, December 22nd this year, meaning that Canadians will likely spend more than 1.2 billion on Christmas gifts.

Hill + Knowlton Strategies conducted an online survey of Canadians who were 18 years and older. The survey started on October 27th and went until November 1st.

According to Interac’s survey, Canadians used ‘Interac Flash,’ a contactless way of paying with one’s banking information, 1.5 billion times in 2017 which is 80 per cent more than last year.

The survey also looked at how much Canadians want to spend, if Canadian plan on going into the red and how much Canadians love lists.