Canadian businesses have widely adopted digital payment methods, yet cheques remain a significant tool for high-value transactions, according to recent data from Payments Canada and a Calgary-based cheque printer. Print & Cheques Now Inc., which serves more than 46,000 customers across Canada, reports steady demand for cheques driven by recordkeeping needs in accounting and finance teams.
Payments Canada’s 2025 Canadian Payment Methods and Trends Report indicates that while cheques accounted for just two per cent of total payment volume in 2024, they represented 22 per cent of total payment value. In contrast, digital payments made up 86 per cent of volume and 77 per cent of value. Contactless payments alone accounted for 58 per cent of transactions. Cheques’ share of payment value trailed EFT at 63 per cent but surpassed credit cards at six per cent.
For small and mid-sized businesses, these figures underscore a practical division: routine, everyday payments are handled digitally, but higher-value or complex payments often still require a paper cheque. A spokesperson for Print & Cheques Now noted, ‘Most businesses are not using cheques for everyday counter sales anymore. They are using them where the payment needs a record, a signature, a remittance stub, or a process that fits the way a vendor, landlord, or contractor already works.’
The company identifies three common factors sustaining cheque demand: some vendors and landlords continue to request cheque payment for larger or recurring amounts; accounting teams rely on cheque stubs for payment records and reconciliation; and certain one-off payments are more straightforward to approve, sign, mail, and file than to process digitally. This pattern is reflected in the steady orders for business cheques that Print & Cheques Now processes daily.
Print & Cheques Now prints Payments Canada Standard 006-compliant cheques and holds CPA Self-Accredited Printer #1010 status. Its products include manual, laser, and computer cheques, as well as deposit books and endorsement stamps. The company confirms compatibility with accounting software such as QuickBooks, Sage 50, Xero, and Simply Accounting, making it easier for finance teams to integrate cheque payments into their existing workflows.
For businesses evaluating their payment options, the decision to continue using cheques often centers on compliance and recordkeeping rather than a preference for paper. ‘For finance teams sourcing business checks, the decision typically centers on compliance, recordkeeping requirements, and compatibility with existing accounting software,’ the spokesperson added. The company offers a Bank Acceptance Guarantee, ensuring that any cheque not accepted by the bank is reprinted and refunded.
As digital payments continue to grow, the persistence of cheques in the business landscape highlights the enduring need for documented, verifiable payment trails in certain transactions. Print & Cheques Now’s experience reflects a broader trend: cheques are not disappearing but are evolving into a specialized tool for specific payment scenarios.
