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Payments Landscape in Canada: Opportunities and Risks to 2021

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Published Date : Jan 2018

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No. of Pages : 54 Pages

Payments Landscape in Canada: Opportunities and Risks to 2021


GlobalDatas "Payments Landscape in Canada: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Canadian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debit, cash, payment cards, and cheques during the review-period (2013-17e).

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 over the forecast-period (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

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

This report provides top-level market analysis, information and insights into the Canadian cards and payments industry, including -
- Current and forecast values for each market in the Canadian cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including credit transfers, cheques, direct debit, cash, and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis and payment methods.
- Analysis of various market drivers and regulations governing the Canadian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.


- To benefit from a growing preference for alternative payments, banks and payment solution providers are launching new solutions. Samsung Electronics launched Samsung Pay in partnership with Canadian Imperial Bank of Commerce (CIBC) in November 2016, initially supporting only CIBC-issued credit cards. In November 2017, the service was extended to support debit cards and credit cards from various banks. Google launched its payment solution Android Pay in Canada in May 2017, partnering with some of the countrys largest financial institutions including Bank of Montreal (BMO), CIBC, and Scotiabank.
- Contactless payments are gaining ground in Canada due to retailers extensive deployment of contactless POS terminals and consumer enthusiasm for the convenience of contactless. Contactless cards have received a push from all of the major banks, including Royal Bank of Canada (RBC), BMO, CIBC, Scotiabank, and TD Canada Trust. According to Payments Canadas Canadian Payment Methods and Trends report, contactless volumes and values increased by 81% and 78% in 2016. According to the same report, the number of contactless transactions increased significantly to almost 2.1 billion transactions: 1.1 billion using credit cards and 1 billion using debit cards.
- The number of consumers using mobile devices to conduct banking transactions is steadily increasing. According to the Canadian Bankers Association over 200 million banking transactions were conducted using mobile devices in 2015. To benefit from the growing preference for mobile banking, Toronto-based Equitable Bank launched the digital-only EQ Bank in January 2016, while in July 2016 BMO introduced a new service that allows customers to open an account in minutes via a smartphone. The service was extended to small business owners in October 2016, enabling them to open a savings account.

Reasons to buy

- Make strategic business decisions, using top-level historic and forecast market data, related to the Canadian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Canadian cards and payments industry.
- Assess the competitive dynamics in the Canadian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Canada.
- Gain insights into key regulations governing the Canadian cards and payments industry.
Table of Contents
Market Overview
Executive Summary
Card-based Payments
E-commerce Payments
Alternative Payments
Payments Infrastructure & Regulation

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