Today is the first day in Canada that the lowly penny will not be handed out in change. We can spend them, but we won't get any back.
From now on, cash transactions ONLY will be rounded down to a zero if the final number of the TOTAL cost is either a 1 or a 2. It will round up to five if the final number is 3 or 4. Over time, the rounding up and rounding down should balance each other out. Individual prices will remain unchanged. Your $1.49 tin of pork & beans won't suddenly become $1.50.
Credit or debit card purchases, or gift card purchases and cheques, will not be rounded either way. Pennies will still exist in your bank accounts.
I survived my first non-penny transaction at the grocery store this morning. I paid with my debit card. Nothing changed.
It's really not that big a deal. I don't think I will miss the penny.