Why does pay to the bearer on demand no longer on the new Canadian money?

The phrase "pay to the bearer on demand" has been removed from new Canadian currency to enhance security and modernize the design of banknotes. This change reflects a shift towards a more sophisticated banking system where electronic transactions and deposits are prevalent. Additionally, the removal helps to clarify that the notes represent a promise to pay rather than a physical bearer instrument. This aligns with contemporary financial practices and reduces the risk of counterfeiting and fraud.