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Canada Cards And Payments Market Research Report – Segmentation By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS And ATM's), By Payment Instruments (Credit Transfers, Direct Debit, Cheques And Payment Cards) - Transaction Value, Volumes, Historical Trends, Analysis And Forecasts (2022 to 2027)

Published: January, 2022
ID: 6659
Pages: 85

Canada Cards And Payments Market Overview (2022 - 2027)

Market Data Forecast ‘Canada Cards and Payments Market’ report offers a distinct range of possibilities in the market of payment cards along with the accurately validated statistics of operational cards in the market and their total transactional values. It suggests profitable marketing strategies considering the competitive landscape in the market, purchase trends, payment options in online trade and significant government frameworks impacting the overall payment card market of Canada.

Our report kindles the hidden opportunities with dependable information about different types of cash transactions, volumes of cardholders, market proportion, current accounts, increase within the number of cards, credit cards outstanding balances, transactional values, details of the issuers at the side of available banking schemes and futuristic analysis of overall cards and payment marketplace in Canada.

Key Statistics Offered:

  • Existing and future values of debit cards, charge and credit cards, and others in every market of the payment cards industry of Canada.
  • Information on the alternative payment options of the country, including the highlights of existing instruments like credit transfers, cheques, direct debit, and cash payments.
  • Future prospects of the online sales market in the country, along with the focus on different growth drivers and government regulations in the cards and payment industry of the country.
  • Various marketing strategies of banking and financial institutions for promoting their payment cards.

Canada Cards and Payments Market - Recent Developments

Leading banks and payment solution providers in Canada are introducing various services to capitalize on the growing preference for alternative payments. For instance, Samsung introduced Samsun Pay in November 2016 with the support of the Canadian Imperial Bank of Commerce (CIBC). This service, which initially supported only CIBC cards is now extended to support payment cards of different banks, effective from November 2017. In May 2018, Google introduced Android Pay, with the collaboration of the country's leading banks like CIBC, Scotiabank, and Bank of Montreal (BOM).

The convenience of payments and the rapid installation for respective POS terminals are supporting the growth of contactless payments in Canada. Several banking firms like Royal Bank of Canada (RBC), BMO, CIBC, Scotiabank, and TD Canada Trust are offering contactless cards. The value and volume of the contactless payments have increased by 78% and 81% in 2016, as per the report of Canadian Payment Methods and Trends. The report also mentions that the number of transactions through these cards has crossed 2.1 billion, of which 1.1 billion are through credit cards and 1 billion through debit cards.

Mobile banking has been gaining prominence in the country with the increasing penetration of smartphones. In 2015, according to the Canadian Bankers Association, around 200 million banking transactions happened through mobile devices in 2015. Equitable Bank, based in Toronto has introduced EQ Bank, a digital-only bank in January 2016, and BMO launched an account opening service on the smartphone to witness the profits in the growing demand for mobile banking. BMO service, starting from October 2016 is allowing small business owners to open saving accounts instantly

Canada Cards and Payments Market - Highlights of the report:

Information about various application areas of Pay later cards and pay now cards, along with the focus on the total number of cards operational in the market, their average transactional volumes and other functionalities involving the use of those cards.

The trends in the e-commerce industry, card penetration in the market, merchant acquisitions, and the advent of mobile and electronic wallets. The transition towards EMVs and contactless card payments at POS terminals.

The growing alternative payments and encouragement from local banks like Samsung Pay by Samsung Electronics in partnership with Canadian Imperial Bank of Commerce (CIBC) is accepted by several banks in the nation. Similarly, Google's Android Pay is supported by major banks like Bank of Montreal (BMO), CIBC, and Scotia Bank.

The augmenting contactless cards payments at the retailer POS terminals and interest of consumers to use these cards, along with the push from major banks of the country like Royal Bank of Canada (RBC), BMO, CIBC, Scotiabank, and TD Canada Trust. According to Payments Canada's report, the contactless payment volumes and values were increased by around 81% and 78% in 2016 with close to 2.1 billion transactions.

Increasing the use of smartphones for payments and banking transactions offering new innovations like digital-only banks. For instance, EQ bank, launched by Toronto-based Equitable Bank operates on mobile providing all services. Similarly, BMO introduced new service on smartphones to open an account in minutes, which was extended to small business owners to open savings accounts.

List of Companies mentioned in the report:

  1. Royal Bank of Canada
  2. TD Canada Trust
  3. Canadian Imperial Bank of Commerce
  4.  Bank of Montreal
  5. Desjardins

Key Questions Answered by the report:

  • What is the market size of Canada’s Cards and Payments market?
  • What are the major operators and issuers in Canada?
  • What is the current state of emerging payment technologies?

Reasons to Purchase this report:

  • Track key industry trends, opportunities and threats related to Canada’s cards and payments industry and each market within it.
  • Gain insights into the competitive landscape of card issuers for both, debit cards and pay later cards.
  • Gain insights into marketing strategies used by market players for various card types in Canada.
  • Gain insights into key regulations governing Canada’s cards and payments market.


1. Definitions

2. Research Methodology

2.1 Research Process

2.1.1 Market Sizing

2.1.2 Competitor Analysis

2.1.3 Market Forecasting

2.1.4 Quality Control Process

3. Executive Summary

4. Industry Benchmarking

5. Market Attractiveness

6. Industry Enablers

6.1 Emerging Payment Technologies

6.2 Growing E-commerce Market

6.2.1 E-commerce Mix by Payment Method

6.3 EMV Migration

6.4 Contactless Cards

7. Regulatory Framework

8. Key Industry Events

9. Merchant Acquiring Business Overview

9.1 Business Overview & Key Operators

9.2 Regulatory Framework

9.3 Technological Changes

10. Market Segmentation

10.1 Cards for Students

10.2 Cards for Travelers

10.3 Cards for High-income Customers

10.4 Cards for Frequent Shoppers

11. Market Sizing

11.1 Debit Cards Market Overview

11.1.1 Scheme Providers

11.1.2 Key Issuers

11.2 Pay Later Cards Market Overview

11.2.1 Scheme Providers

11.2.2 Key Issuers

11.3 Payment Terminals Market

11.4 Payment Instruments Market

12. Key Operators in the Market

12.1 Royal Bank of Canada

            12.1.1 Company Snapshot

12.1.2 SWOT Analysis

12.1.3 Cards Portfolio

12.2 TD Canada Trust

12.2.1 Company Snapshot

12.2.2 SWOT Analysis

12.2.3 Cards Portfolio

12.3 Canadian Imperial Bank of Commerce

12.3.1 Company Snapshot

12.3.2 SWOT Analysis

12.3.3 Cards Portfolio

12.4 Bank of Montreal

            12.4.1 Company Snapshot

12.4.2 SWOT Analysis

12.4.3 Cards Portfolio

12.5 Desjardins

12.5.1 Company Snapshot

12.5.2 SWOT Analysis

12.5.3 Cards Portfolio

12.6 Visa

            12.6.1 Company Snapshot

12.6.2 SWOT Analysis

12.6.3 Cards Portfolio

13. Appendix

13.1 Total Cards Market Stats

13.2 Debit Cards Market Stats

13.2.1 Debit Cards Use at Payment Terminals

13.2.2 Debit Cards Market – Scheme Providers Data

13.3 Pay Later Cards Market Stats

13.3.1 Pay Later Cards Use at Payment Terminals

13.3.2 Pay Later Cards Market – Scheme Providers Data

13.4 Payment Terminals Data

13.5 Payment Instruments Data

Canada Cards And Payments Market

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