Canada Cards and Payments Market Opportunities and Risks Report 2021-2024 –

DUBLIN – (BUSINESS WIRE)–The “Cards and Payments in Canada – Opportunities and Risks to 2024” the report was added to from offer.

This Cards and Payments in Canada – Opportunities and Risks to 2024 report provides a detailed analysis of market trends in the Canadian cards and payments industry. It provides values ​​and volumes for a number of industry key performance indicators including cash, cards, transfers, direct debits, mobile wallets and checks during the review period. (2016-20th).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values ​​and volumes during the review period and during the period of review. forecast (2020e-24f). It also offers information on the country’s competitive landscape, including the market shares of transmitters and systems.

The report brings together the publisher’s expertise in research, modeling and analysis to enable banks and card issuers to identify segment dynamics and competitive advantages. The report also covers regulatory policy details and recent changes in the regulatory structure.

This report provides high-level market analysis, information, and insights into the Canadian cards and payments industry, including:

  • Current and forecasted values ​​for each market in the Canadian card and payments industry, including debit, credit and charge cards.

  • Detailed information on payment instruments including cash, cards, transfers, direct debits, mobile wallets and checks. It also includes an overview of the main alternative payment instruments in the country.

  • Analysis of the e-commerce market.

  • Analysis of various market drivers and regulations governing the Canadian card and payments industry.

  • Detailed analysis of the strategies adopted by banks and other institutions to market debit, credit and payment cards.


  • The COVID-19 outbreak has resulted in a significant shift in consumer preference towards using contactless payment methods. According to the results of a survey conducted by Payments Canada in November 2020, about 47% of Canadians surveyed say they use their contactless debit and credit cards more often than pre-COVID ones, and 50% of Canadians have tried not to exceed the contactless limit when purchasing. something in store. To take advantage of the growing adoption of contactless payments, in February 2021, Ottawa transit agency OC Transpo introduced the acceptance of contactless Mastercard and Visa credit cards as well as payment applications. mobiles and smartwatches that use Apple Pay or Google Pay loaded with Visa. or Mastercard to make payments for train fares.

  • BNPL (Buy-now-pay-later) services are widely used in the country’s payments market, with several payment providers now offering this service. In January 2021, Affirm, a US-based BNPL service provider, expanded into the Canadian payments market by acquiring PayBright, a Canadian provider of BNPL. Affirm offers BNPL services on online transactions and does not charge any late fees, prepayment fees, or annual fees, but payments may include a small interest component depending on the transaction value of the purchase. Customers can choose a repayment term ranging from three to 12 months. Earlier in August 2020, Afterpay, an Australian BNPL service provider, extended its services to Canada. The provider allows its users to make interest-free credit payments in four installments for in-store and online transactions.

  • To respond to changing consumer preferences as a result of the increasing adoption of technological advancements, in 2016, Payments Canada launched the Modernization Program, a multi-year initiative to develop a payments system that is fast, flexible, secure and sustainable. strengthens. Canada’s competitive position. As part of this initiative, Payments Canada is currently developing several payment systems, the first being Lynx, which is a high-value payment system that replaces the existing high-value transfer system. The improved system will allow banks and credit unions to perform high-value transfers faster and more securely and is expected to launch in September 2021. The second innovation includes the development of a real-time payment system for retail customers known as Real-Time Rail, which is expected to come into service in 2022.

Main topics covered:

  • Payment instruments

  • Card payments

  • Merchant acquisition

  • E-commerce payments

  • Buy now Pay later

  • Mobile proximity payments

  • P2P payments

  • Bill payments

  • Alternative payments

  • Work analysis

  • Payment innovations

  • Payment infrastructure and regulation

  • appendix

Companies mentioned

  • Payments Canada

  • Gardens

  • RBC Royal Bank

  • TD Canada Trust

  • Scotiabank

  • CIBC

  • Interac

  • Visa

  • MasterCard

  • American Express

  • Pay Pal

  • Google pay

  • PayTM Canada

  • Apple Pay

  • Samsung Pay

  • Afterpay

  • RBC Portfolio

For more information on this report, visit

About Joan Ferguson

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