Cash Drawers Close as Vancouver Businesses Go Digital
Restaurants, city parks, and major attractions are ditching cash payment options, accelerating a shift toward digital-only transactions across Metro Vancouver.
Cash is quietly disappearing from Vancouver. The eight-location Tractor restaurant chain stopped accepting physical money during the pandemic. The Pacific National Exhibition dropped cash payments. Rogers Arena vendors no longer take bills. The Vancouver Aquarium abandoned cash in May. And this month, the City of Vancouver is decommissioning the last of its parking meters that accept coins.
It's a tipping point in a transformation that's been building for years. Data from the Bank of Canada shows cash formed just 20.5% of the purchase value of all transactions in the country in 2024—down from 53.7% in 2009. But the decline has plateaued; what's accelerating now is not the consumer shift but the merchant rejection.
For business operators, the logic is compelling. Tractor owner Steve Clarke pointed to staff safety as his primary motivation. "You're exposed in different ways," he said, referencing theft both by employees and the public. His restaurants have also discovered that cashless operations speed up service—a significant gain during busy lunch rushes. Food delivery platforms like DoorDash and ride-share services like Uber have operated on digital-only models from the start, normalizing the expectation.
The City of Vancouver estimates it'll save $800,000 to $1 million annually by eliminating coin handling, transport, and maintenance on parking meters. The aquarium cited streamlined transactions and security as key drivers. David Gray, a retail analyst at Capilano University, noted that the shift has primarily affected service businesses rather than retailers selling physical goods—but that distinction is narrowing.
Older Canadians remain the cash holdouts. Of those over 55, 86.8% carried cash in 2024, according to the Bank of Canada. But Vancouver's push toward digital exclusivity risks leaving unhoused people, those without bank accounts, and seniors without seamless payment options. Some venues like the aquarium have installed digital kiosks where cash can be converted to a card balance—but with $3.95 monthly fees attached if unused for 92 days.