Canada Cards and Payments Market Report 2022: Analysis, Forecasts, Opportunities and Risks, 2017-2021 & 2021-2025


Dublin, Nov. 02, 2022 (GLOBE NEWSWIRE) -- The "Canada Cards and Payments - Opportunities and Risks to 2025" report has been added to's offering.

Canada Cards and Payments market 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 cash, cards, direct debits, credit transfers and cheques during the review-period (2017-21e).

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 (2021e-25f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the publisher's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The 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 cash, cards, direct debits, credit transfers and cheques. It also, includes an overview of the country's key alternative payment instruments.
  • Ecommerce market analysis.
  • 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.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of the Canadian cards and payments industry.


  • Payments Canada is developing a new real-time payment system known as Real-Time Rail (RTR), which is expected to go live in 2023. The system will support API integrations, enabling participants to offer value-added services. Payments Canada partnered with Interac in March 2021 to leverage the latter's exchange solution to facilitate transmission of RTR payment messages between participants. Mastercard's Vocalink is providing the clearing and settlement solution for the system. Meanwhile, the Large Value Transfer System (LVTS) - an electronic credit transfer system that operated on a real-time basis - was replaced by Lynx in September 2021. An updated version of Lynx is planned for launch in November 2022; it will leverage the ISO 20022 messaging standard to support SWIFT global standard requirements.
  • BNPL services are growing in popularity. In August 2020, Australian BNPL provider Afterpay expanded to Canada. The provider enables its users to make interest-free payments in four installments for both in-store and online purchases. In January 2021, US-based BNPL provider Affirm expanded into the market by acquiring Canadian BNPL provider PayBright. In October 2021, Visa expanded its BNPL solution Visa Installments to Canada. This allows credit card holders to enable installments on approved credit lines; the solution can be used at any retailer that accepts Visa as a payment method. And in February 2022, Klarna launched its operations in Canada. The company's Pay in 4 service allows consumers to split both online and in-store purchases into four interest-free payments.
  • Growth in the credit card market will be affected by the central bank increasing interest rates. On March 2, 2022, the central bank interest rate was revised from 0.25% to 0.50%. On June 1, 2022, the interest rate was increased to 1.50%. Such moves will directly impact the credit card market, leading to reduced spending via credit cards.

Key Topics Covered:

  • Market Overview
  • Payment Instruments
  • Card-Based Payments
  • Merchant Acquiring
  • Ecommerce Payments
  • In-Store Payments
  • Buy Now Pay Later
  • Mobile Payments
  • P2P Payments
  • Bill Payments
  • Alternative Payments
  • Payment Innovations
  • Job Analysis
  • Payment Infrastructure and Regulation
  • Appendix

Companies Mentioned

  • Royal Bank of Canada
  • TD Canada Trust
  • Desjardins
  • Scotiabank
  • CIBC
  • BMO
  • Interac
  • Visa
  • Mastercard
  • American Express
  • Moneris
  • Global Payments
  • Chase Paymentech
  • TD Merchant Solutions
  • PayPal
  • Apple Pay
  • Google Pay
  • Samsung Pay
  • Click to Pay
  • paysafecard
  • Klarna
  • Afterpay

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