Get quick access to our research papers, public consultations and surveys related to bank notes.
See also our backgrounders and explainers on bank notes.
Research papers
You can browse all our staff research on bank notes. Here's the latest:
The Consumer Value Proposition for a Hypothetical Digital Canadian Dollar
Staff Discussion Paper 2024-16
Martine Warren,
Bill Laur,
Ted Garanzotis,
Sebastian Hernandez
We explore the consumer value proposition of a hypothetical Digital Canadian Dollar, adoption considerations and the users who would benefit most from this potential new payment method. We employ a design-thinking consultation methodology, allowing participants to interact with research prototypes of increasing complexity to reveal user preferences, constraints and adoption influences.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Accessibility,
Bank notes,
Central bank research,
Digital currencies and fintech
JEL Code(s):
C,
C9,
D,
D1,
D12,
E,
E4,
E42,
E5,
E58,
O,
O3,
O33
Digital Payments: A Framework for Inclusive Design
Staff Discussion Paper 2024-15
Sebastian Hernandez,
Alexandra Sutton-Lalani,
John Miedema,
Virginie Cobigo,
Fatoumata Bah,
Munazza Tahir,
Danika Lévesque,
Badr Omrane
We propose a framework for designing cognitively accessible payment and banking interfaces through design guidelines, testing and proposed measures to optimize system learnability and user workload. We include, as a case study, the results of testing this framework with users with cognitive disabilities, using a prototype system for voice payments.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Accessibility,
Bank notes,
Central bank research,
Digital currencies and fintech,
Digitalization,
Financial services
Untapped Potential: Mobile Device Ownership and Mobile Payments in Canada
Staff Working Paper 2024-25
Marie-Hélène Felt,
Angelika Welte,
Katrina Talavera
We present a two-stage model of mobile phone and mobile payment usage that controls for selectivity. This reveals unobserved factors that work against having a mobile phone and toward mobile paying. Therefore, people who are unable to acquire or choose not to own a mobile device might have unmet payment needs.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Econometric and statistical methods
JEL Code(s):
C,
C3,
C39,
D,
D1,
D12,
E,
E4,
E42
2023 Methods-of-Payment Survey Report: The Resilience of Cash
Staff Discussion Paper 2024-8
Christopher Henry,
Matthew Shimoda,
Doina Rusu
We present key results from the 2023 Methods-of-Payment Survey. Results show that measures of cash management and use have remained stable since 2020, and that Canadians increased their adoption of payment alternatives such as mobile apps in 2023.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Financial services
JEL Code(s):
D,
D8,
D83,
E,
E4,
E41
Public consultations
Consulting Canadians on visual content is integral to our design process for new bank notes.
Principles for Bank Note Design Consultation
Read the highlights of this consultation, and see how the design principles have been applied to bank notes like these.
Surveys
The Bank regularly surveys Canadian businesses and citizens to better understand how and why cash is used by assessing awareness, attitudes, and behaviours with respect to bank notes.
Survey results allow the Bank to monitor its progress, to identify potential issues or opportunities, and to adapt its programs, tools, and services as needed.
Bank Note Confidence Survey
The Bank of Canada supplies Canadians with bank notes they can use with confidence—notes that are readily accepted and secure against counterfeiting. To monitor and assess public confidence in the authenticity of bank notes, we conduct a survey twice a year. This survey is based on a representative sample of 2,700 residents of Canada.
Methods-of-Payment Survey
The Bank of Canada surveys Canadian consumers to get a better understanding of how they pay for goods and services.
Merchant Acceptance Survey
The Merchant Acceptance Survey (MAS) helps the Bank of Canada understand trends when it comes to the methods of payment accepted by Canadian businesses.
Cash and COVID-19: What happened in 2021
Using data from the Bank Note Distribution System and consumer surveys, we find that bank notes in circulation remained high through 2021. Canadians continued to rely on electronic methods of payment, but a significant share also continued using cash for payments.
Frontiers Series: 2011–12 Awareness Survey
This survey measured Canadians’ awareness of the polymer bank notes. Respondents were asked if they recalled hearing of any upcoming changes to Canadian bank notes, and if so, where they first heard of the polymer bank notes.