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Country Report

Credit Card Transactions in

Credit Cards in Canada

23 pages, Nov 2017

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Contactless payments and other conveniences to boost growth in transactions whilst growth in circulation set to slow down as the average Canadian already has 2-3 credit cards

Credit card demand in Canada remains highly developed. The average Canadian holds 2-3 credit cards, and as a result the growth in circulation is likely to slow down to rates somewhere above the rate of population growth.

Credit card companies invest money from high merchant fees to help create one of the most developed and secure digital payment environments in the world

In Canada, Visa and MasterCard charge merchants fees that are as much as five times higher than fees charged in regions like Europe and Australia. As a result, Canada has one of the most developed and secure digital payment sectors in the world, due to the investments credit card companies have made using the proceeds from fees.

Growth in internet shopping and demand for security give credit cards an advantage leading to strong growth

The continued growth in internet shopping provides credit cards with an advantage and contributes to their strong growth in terms of transaction volume and value. Security continues to be important to Canadian credit card holders as many have concerns about shopping online.

COMPETITIVE LANDSCAPE

As cash use declines, Canada’s biggest banks engage in a “credit card war” that can only benefit the consumer

With cash use slowly declining, credit is all set to become the dominant form of payment in Canada. Competition in the credit card business in Canada is fierce, and in fact since 2014 many observers would suggest that Canada’s biggest banks have been engaged in what can accurately be described as a credit card war.

Traditional banks challenged to become as innovative and competitive as fintech start-ups or to start partnering with them

Traditional banks now have to compete against fintech start-ups like Tangerine Bank, which may charge lower fees and offer credit cards with comparable rewards. New apps that help ease consumers’ transactions and account management are changing the way consumers pay.

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Overview

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Charge Cards in Canada - Category analysis

Charge Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Personal charge cards appeal to high spenders with less real need for credit but seeking to earn rewards whilst businesses prefer charge cards to control expenses

Charge card transaction value and number of cards will slow down in face of growing competition from loyalty/rewards credit cards issuers targeting the same affluent consumers

COMPETITIVE LANDSCAPE

American Express offers the only personal charge card available in Canada, but low acceptance rates due to high interchange fees limit growth potential

MasterCard and American Express are leading commercial credit card operators whilst competition amongst local issuers intensifies in a crowded landscape

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2012-2017
Table 2 Charge Cards Transactions 2012-2017
Table 3 Charge Cards in Circulation: % Growth 2012-2017
Table 4 Charge Cards Transactions: % Growth 2012-2017
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2012-2017
Table 6 Commercial Charge Cards Transactions 2012-2017
Table 7 Commercial Charge Cards in Circulation: % Growth 2012-2017
Table 8 Commercial Charge Cards Transactions: % Growth 2012-2017
Table 9 Personal Charge Cards: Number of Cards in Circulation 2012-2017
Table 10 Personal Charge Cards Transactions 2012-2017
Table 11 Personal Charge Cards in Circulation: % Growth 2012-2017
Table 12 Personal Charge Cards Transactions: % Growth 2012-2017
Table 13 Charge Cards: Number of Cards by Issuer 2012-2016
Table 14 Charge Cards: Number of Cards by Operator 2012-2016
Table 15 Charge Cards Payment Transaction Value by Issuer 2012-2016
Table 16 Charge Cards Payment Transaction Value by Operator 2012-2016
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2012-2016
Table 18 Commercial Charge Cards: Number of Cards by Operator 2012-2016
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2012-2016
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2012-2016
Table 21 Personal Charge Cards: Number of Cards by Issuer 2012-2016
Table 22 Personal Charge Cards: Number of Cards by Operator 2012-2016
Table 23 Personal Charge Cards Transaction Value by Issuer 2012-2016
Table 24 Personal Charge Cards Transaction Value by Operator 2012-2016
Table 25 Forecast Charge Cards: Number of Cards in Circulation 2017-2022
Table 26 Forecast Charge Cards Transactions 2017-2022
Table 27 Forecast Charge Cards in Circulation: % Growth 2017-2022
Table 28 Forecast Charge Cards Transactions: % Growth 2017-2022
Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2017-2022
Table 30 Forecast Commercial Charge Cards Transactions 2017-2022
Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2017-2022
Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2017-2022
Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2017-2022
Table 34 Forecast Personal Charge Cards Transactions 2017-2022
Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2017-2022
Table 36 Forecast Personal Charge Cards Transactions: % Growth 2017-2022

Credit Cards in Canada - Category analysis

Credit Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Contactless payments and other conveniences to boost growth in transactions whilst growth in circulation set to slow down as the average Canadian already has 2-3 credit cards

Credit card companies invest money from high merchant fees to help create one of the most developed and secure digital payment environments in the world

Growth in internet shopping and demand for security give credit cards an advantage leading to strong growth

COMPETITIVE LANDSCAPE

As cash use declines, Canada’s biggest banks engage in a “credit card war” that can only benefit the consumer

Traditional banks challenged to become as innovative and competitive as fintech start-ups or to start partnering with them

CATEGORY DATA

Table 37 Credit Cards: Number of Cards in Circulation 2012-2017
Table 38 Credit Cards Transactions 2012-2017
Table 39 Credit Cards in Circulation: % Growth 2012-2017
Table 40 Credit Cards Transactions: % Growth 2012-2017
Table 41 Commercial Credit Cards: Number of Cards in Circulation 2012-2017
Table 42 Commercial Credit Cards Transactions 2012-2017
Table 43 Commercial Credit Cards in Circulation: % Growth 2012-2017
Table 44 Commercial Credit Cards Transactions: % Growth 2012-2017
Table 45 Personal Credit Cards: Number of Cards in Circulation 2012-2017
Table 46 Personal Credit Cards Transactions 2012-2017
Table 47 Personal Credit Cards in Circulation: % Growth 2012-2017
Table 48 Personal Credit Cards Transactions: % Growth 2012-2017
Table 49 Credit Cards: Number of Cards by Issuer 2012-2016
Table 50 Credit Cards: Number of Cards by Operator 2012-2016
Table 51 Credit Cards Payment Transaction Value by Issuer 2012-2016
Table 52 Credit Cards Payment Transaction Value by Operator 2012-2016
Table 53 Commercial Credit Cards: Number of Cards by Issuer 2012-2016
Table 54 Commercial Credit Cards: Number of Cards by Operator 2012-2016
Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2012-2016
Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2012-2016
Table 57 Personal Credit Cards: Number of Cards by Issuer 2012-2016
Table 58 Personal Credit Cards: Number of Cards by Operator 2012-2016
Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2012-2016
Table 60 Personal Credit Cards Payment Transaction Value by Operator 2012-2016
Table 61 Forecast Credit Cards: Number of Cards in Circulation 2017-2022
Table 62 Forecast Credit Cards Transactions 2017-2022
Table 63 Forecast Credit Cards in Circulation: % Growth 2017-2022
Table 64 Forecast Credit Cards Transactions: % Growth 2017-2022
Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2017-2022
Table 66 Forecast Commercial Credit Cards Transactions 2017-2022
Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2017-2022
Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2017-2022
Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2017-2022
Table 70 Forecast Personal Credit Cards Transactions 2017-2022
Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2017-2022
Table 72 Forecast Personal Credit Cards Transactions: % Growth 2017-2022

Debit Cards in Canada - Category analysis

Debit Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Widespread penetration of debit cards limits significant growth opportunities

Focus is on motivating people to spend money they already have with special incentives

COMPETITIVE LANDSCAPE

Popularity of mobile payment methods and e-commerce linked directly to bank accounts or credit cards challenge growth prospects for debit cards

Some co-branded partnerships do not work, but Wal-Mart and MasterCard have a very fruitful one

CATEGORY DATA

Table 73 Debit Cards: Number of Cards in Circulation 2012-2017
Table 74 Debit Cards Transactions 2012-2017
Table 75 Debit Cards in Circulation: % Growth 2012-2017
Table 76 Debit Cards Transactions: % Growth 2012-2017
Table 77 Debit Cards: Number of Cards by Issuer 2012-2016
Table 78 Debit Cards: Number of Cards by Operator 2012-2016
Table 79 Debit Cards Payment Transaction Value by Issuer 2012-2016
Table 80 Debit Cards Payment Transaction Value by Operator 2012-2016
Table 81 Forecast Debit Cards: Number of Cards in Circulation 2017-2022
Table 82 Forecast Debit Cards Transactions 2017-2022
Table 83 Forecast Debit Cards in Circulation: % Growth 2017-2022
Table 84 Forecast Debit Cards Transactions: % Growth 2017-2022

Pre-Paid Cards in Canada - Category analysis

Pre-Paid Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Prepaid cards see robust growth, with closed-loop cards leading in value sales with gift cards, and open-loop cards accounting for the bulk of cards in circulation

Government increasingly relying on prepaid cards as standard payment solutions for programmes everywhere

Growth set to continue as consumers are attracted by lack of need for credit and quick availability of funds

COMPETITIVE LANDSCAPE

Visa and MasterCard remain dominant in open-loop prepaid cards

New prepaid cards increase features and functions mimicking credit and debit cards in order to better compete

CATEGORY DATA

Table 85 Pre-paid Cards: Number of Cards in Circulation 2012-2017
Table 86 Pre-paid Cards Transactions 2012-2017
Table 87 Pre-paid Cards in Circulation: % Growth 2012-2017
Table 88 Pre-paid Cards Transactions: % Growth 2012-2017
Table 89 Closed Loop Pre-paid Cards Transactions 2012-2017
Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2012-2017
Table 91 Open Loop Pre-paid Cards Transactions 2012-2017
Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2012-2017
Table 93 Pre-paid Cards: Number of Cards by Issuer 2012-2016
Table 94 Pre-paid Cards: Number of Cards by Operator 2012-2016
Table 95 Pre-paid Cards Transaction Value by Issuer 2012-2016
Table 96 Pre-paid Cards Transaction Value by Operator 2012-2016
Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2012-2016
Table 98 Open Loop Pre-paid Cards: Number of Cards by Issuer 2012-2016
Table 99 Open Loop Pre-paid Cards: Number of Cards by Operator 2012-2016
Table 100 Open Loop Pre-paid Cards Transaction Value by Issuer 2012-2016
Table 101 Open Loop Pre-paid Cards Transaction Value by Operator 2012-2016
Table 102 Forecast Pre-paid Cards: Number of Cards in Circulation 2017-2022
Table 103 Forecast Pre-paid Cards Transactions 2017-2022
Table 104 Forecast Pre-paid Cards in Circulation: % Growth 2017-2022
Table 105 Forecast Pre-paid Cards Transactions: % Growth 2017-2022
Table 106 Forecast Closed Loop Pre-paid Cards Transactions 2017-2022
Table 107 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2017-2022
Table 108 Forecast Open Loop Pre-paid Cards Transactions 2017-2022
Table 109 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2017-2022

Store Cards in Canada - Category analysis

Store Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Declining trend continues in face of competition from other cards, including co-branded ones

Expected slower decline represents a bright spot but competition from other cards will continue to pose a challenge

COMPETITIVE LANDSCAPE

Issuing cards for IKEA and Home Depot, Citi Cards Canada is the leading store card provider

Increasingly competitive rewards programmes and services boosting appeal of store cards

Co-badged cards becoming another strategy to attract use of store cards

CATEGORY DATA

Table 110 Store Cards: Number of Cards in Circulation 2012-2017
Table 111 Store Cards Transactions 2012-2017
Table 112 Store Cards in Circulation: % Growth 2012-2017
Table 113 Store Cards Transactions: % Growth 2012-2017
Table 114 Store Cards: Number of Cards by Issuer 2012-2016
Table 115 Store Cards: Payment Transaction Value by Issuer 2012-2016
Table 116 Forecast Store Cards: Number of Cards in Circulation 2017-2022
Table 117 Forecast Store Cards Transactions 2017-2022
Table 118 Forecast Store Cards in Circulation: % Growth 2017-2022
Table 119 Forecast Store Cards Transactions: % Growth 2017-2022

Financial Cards and Payments in Canada - Industry Overview

EXECUTIVE SUMMARY

Credit cards’ success a natural deterrent to growth of other cards

Technology drives innovation but security concerns remain

Prepaid cards continues to grow rapidly from a small base

Loyalty programmes and rewards remain critical across financial cards

Credit cards will continue their stronghold

MARKET INDICATORS

Table 120 Number of POS Terminals: Units 2012-2017
Table 121 Number of ATMs: Units 2012-2017
Table 122 Value Lost to Fraud 2012-2017
Table 123 Card Expenditure by Location 2017
Table 124 Financial Cards in Circulation by Type: % Number of Cards 2012-2017
Table 125 Domestic versus Foreign Spend 2017

MARKET DATA

Table 126 Financial Cards by Category: Number of Cards in Circulation 2012-2017
Table 127 Financial Cards by Category: Number of Accounts 2012-2017
Table 128 Financial Cards Transactions by Category: Value 2012-2017
Table 129 Financial Cards by Category: Number of Transactions 2012-2017
Table 130 Consumer Payments by Category: Value 2012-2017
Table 131 Consumer Payments by Category: Number of Transactions 2012-2017
Table 132 M-Commerce by Category: Value 2013-2017
Table 133 M-Commerce by Category: % Value Growth 2013-2017
Table 134 Financial Cards: Number of Cards by Issuer 2012-2016
Table 135 Financial Cards: Number of Cards by Operator 2012-2016
Table 136 Financial Cards: Card Payment Transactions Value by Operator 2012-2016
Table 137 Financial Cards: Card Payment Transactions Value by Issuer 2012-2016
Table 138 Forecast Financial Cards by Category: Number of Cards in Circulation 2017-2022
Table 139 Forecast Financial Cards by Category: Number of Accounts 2017-2022
Table 140 Forecast Financial Cards Transactions by Category: Value 2017-2022
Table 141 Forecast Financial Cards by Category: Number of Transactions 2017-2022
Table 142 Forecast Consumer Payments by Category: Value 2017-2022
Table 143 Forecast Consumer Payments by Category: Number of Transactions 2017-2022
Table 144 Forecast M-Commerce by Category: Value 2017-2022
Table 145 Forecast M-Commerce by Category: % Value Growth 2017-2022

Megatrends

Country Report

Credit Cards in Canada

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Contactless payments and other conveniences to boost growth in transactions whilst growth in circulation set to slow down as the average Canadian already has 2-3 credit cards

Credit card companies invest money from high merchant fees to help create one of the most developed and secure digital payment environments in the world

Growth in internet shopping and demand for security give credit cards an advantage leading to strong growth

COMPETITIVE LANDSCAPE

As cash use declines, Canada’s biggest banks engage in a “credit card war” that can only benefit the consumer

Traditional banks challenged to become as innovative and competitive as fintech start-ups or to start partnering with them

Overview

Why buy this report?

Want to find out more about this report?

Table of Contents

Charge Cards in Canada - Category analysis

Charge Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Personal charge cards appeal to high spenders with less real need for credit but seeking to earn rewards whilst businesses prefer charge cards to control expenses

Charge card transaction value and number of cards will slow down in face of growing competition from loyalty/rewards credit cards issuers targeting the same affluent consumers

COMPETITIVE LANDSCAPE

American Express offers the only personal charge card available in Canada, but low acceptance rates due to high interchange fees limit growth potential

MasterCard and American Express are leading commercial credit card operators whilst competition amongst local issuers intensifies in a crowded landscape

CATEGORY DATA

Credit Cards in Canada - Category analysis

Credit Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Contactless payments and other conveniences to boost growth in transactions whilst growth in circulation set to slow down as the average Canadian already has 2-3 credit cards

Credit card companies invest money from high merchant fees to help create one of the most developed and secure digital payment environments in the world

Growth in internet shopping and demand for security give credit cards an advantage leading to strong growth

COMPETITIVE LANDSCAPE

As cash use declines, Canada’s biggest banks engage in a “credit card war” that can only benefit the consumer

Traditional banks challenged to become as innovative and competitive as fintech start-ups or to start partnering with them

CATEGORY DATA

Debit Cards in Canada - Category analysis

Debit Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Widespread penetration of debit cards limits significant growth opportunities

Focus is on motivating people to spend money they already have with special incentives

COMPETITIVE LANDSCAPE

Popularity of mobile payment methods and e-commerce linked directly to bank accounts or credit cards challenge growth prospects for debit cards

Some co-branded partnerships do not work, but Wal-Mart and MasterCard have a very fruitful one

CATEGORY DATA

Pre-Paid Cards in Canada - Category analysis

Pre-Paid Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Prepaid cards see robust growth, with closed-loop cards leading in value sales with gift cards, and open-loop cards accounting for the bulk of cards in circulation

Government increasingly relying on prepaid cards as standard payment solutions for programmes everywhere

Growth set to continue as consumers are attracted by lack of need for credit and quick availability of funds

COMPETITIVE LANDSCAPE

Visa and MasterCard remain dominant in open-loop prepaid cards

New prepaid cards increase features and functions mimicking credit and debit cards in order to better compete

CATEGORY DATA

Store Cards in Canada - Category analysis

Store Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Declining trend continues in face of competition from other cards, including co-branded ones

Expected slower decline represents a bright spot but competition from other cards will continue to pose a challenge

COMPETITIVE LANDSCAPE

Issuing cards for IKEA and Home Depot, Citi Cards Canada is the leading store card provider

Increasingly competitive rewards programmes and services boosting appeal of store cards

Co-badged cards becoming another strategy to attract use of store cards

CATEGORY DATA

Financial Cards and Payments in Canada - Industry Overview

EXECUTIVE SUMMARY

Credit cards’ success a natural deterrent to growth of other cards

Technology drives innovation but security concerns remain

Prepaid cards continues to grow rapidly from a small base

Loyalty programmes and rewards remain critical across financial cards

Credit cards will continue their stronghold

MARKET INDICATORS

MARKET DATA

DEFINITIONS