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Country Report

Debit Transactions in

Debit Cards in Canada

Nov 2019

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 expected to ensure steady growth in debit transactions

Debit cards continued to see strong current value and volume growth in Canada in 2019, with personal debit cards seeing a slightly stronger performance than commercial debit cards. Debit card penetration in Canada is already high, with the average Canadian carrying more than one debit card.

Technological innovations improve the user experience

Both debit card issuers and operators have been investing in technology, as well as increasing their focus on fintech partnerships, to offer a more convenient, seamless and secure payment experience to cardholders. As the debit card category is already very saturated in Canada, major players are aiming to encourage customers to use their cards more frequently by offering innovative features in order to gain a competitive edge and capture more share from cash.

Challenges to growth

Although debit card remains one of the leading payment methods in Canada, the category faces a number of challenges over the forecast period. On the demand side, many consumers are consolidating their debit cards for easier card management.

COMPETITIVE LANDSCAPE

Large banks dominate debit cards due to wide networks

Canada’s Big Six banks (National Bank of Canada, Royal Bank of Canada, Bank of Montreal, Canadian Imperial Bank of Commerce, Bank of Nova Scotia (Scotiabank) and Toronto Dominion Bank (TD)) together continued to dominate debit cards in 2018. This can be attributed to their strong capital base and extensive networks across the country.

Lower fees increase the popularity of online-only banks

Online-only banks have been gaining ground in debit cards. Whilst most banks are attracting customers with new account bonuses, online-only banks are attracting customers via their offer of no monthly fees, lower transaction fees and high interest rates on savings accounts, as they have much lower fixed costs when compared with traditional banks.

New products and partners aim to attract consumers

Mastercard has partnered with Square to launch free business debit cards. Although this was launched only in the US initially, if successful, rollout is expected to expand to Canada, although no specific timeline has been suggested.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Delivery Method

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Overview

Discover the latest market trends and uncover sources of future market growth for the Debit Transactions industry in Canada with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Debit Transactions industry in Canada, our research will save you time and money while empowering you to make informed, profitable decisions.

The Debit Transactions in Canada market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Debit Transactions in Canada?
What are the major operators and issuers in Canada?
What is the current state and expected evolution of consumer payment preference?
What payment instrument offers the highest growth potential?
What strategies and positioning have consumer finance companies utilized to win in the market?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Debit Transactions in Canada, originate from our database within our Consumer Finance market share and market size database.

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Charge Cards in Canada - Category analysis

Charge Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Positive performance expected due to high-spending clientele

Few new product launches due to lack of demand

Charge cards suffer from a lack of marketing and high fees, but opportunities remain

COMPETITIVE LANDSCAPE

American Express dominates charge cards

Uncertain outlook for Diners Club

Expansion of card acceptance to boost sales

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2014-2019
Table 2 Charge Cards Transactions 2014-2019
Table 3 Charge Cards in Circulation: % Growth 2014-2019
Table 4 Charge Cards Transactions: % Growth 2014-2019
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2014-2019
Table 6 Commercial Charge Cards Transactions 2014-2019
Table 7 Commercial Charge Cards in Circulation: % Growth 2014-2019
Table 8 Commercial Charge Cards Transactions: % Growth 2014-2019
Table 9 Personal Charge Cards: Number of Cards in Circulation 2014-2019
Table 10 Personal Charge Cards Transactions 2014-2019
Table 11 Personal Charge Cards in Circulation: % Growth 2014-2019
Table 12 Personal Charge Cards Transactions: % Growth 2014-2019
Table 13 Charge Cards: Number of Cards by Issuer 2014-2018
Table 14 Charge Cards: Number of Cards by Operator 2014-2018
Table 15 Charge Cards Payment Transaction Value by Issuer 2014-2018
Table 16 Charge Cards Payment Transaction Value by Operator 2014-2018
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2014-2018
Table 18 Commercial Charge Cards: Number of Cards by Operator 2014-2018
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2014-2018
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2014-2018
Table 21 Personal Charge Cards: Number of Cards by Issuer 2014-2018
Table 22 Personal Charge Cards: Number of Cards by Operator 2014-2018
Table 23 Personal Charge Cards Transaction Value by Issuer 2014-2018
Table 24 Personal Charge Cards Transaction Value by Operator 2014-2018
Table 25 Forecast Charge Cards: Number of Cards in Circulation 2019-2024
Table 26 Forecast Charge Cards Transactions 2019-2024
Table 27 Forecast Charge Cards in Circulation: % Growth 2019-2024
Table 28 Forecast Charge Cards Transactions: % Growth 2019-2024
Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2019-2024
Table 30 Forecast Commercial Charge Cards Transactions 2019-2024
Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2019-2024
Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2019-2024
Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2019-2024
Table 34 Forecast Personal Charge Cards Transactions 2019-2024
Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2019-2024
Table 36 Forecast Personal Charge Cards Transactions: % Growth 2019-2024

Credit Cards in Canada - Category analysis

Credit Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Strong performance due to contactless technology, e-commerce and rewards

The negotiation of lower interchange fees will help retailers

Issuers target millennials with tailored rewards

COMPETITIVE LANDSCAPE

Leading issuers challenged by new fintech players

Credit cards environment undergoing technological transformation

Focus could shift to premium credit cards with better rewards

CATEGORY DATA

Table 37 Credit Cards: Number of Cards in Circulation 2014-2019
Table 38 Credit Cards Transactions 2014-2019
Table 39 Credit Cards in Circulation: % Growth 2014-2019
Table 40 Credit Cards Transactions: % Growth 2014-2019
Table 41 Commercial Credit Cards: Number of Cards in Circulation 2014-2019
Table 42 Commercial Credit Cards Transactions 2014-2019
Table 43 Commercial Credit Cards in Circulation: % Growth 2014-2019
Table 44 Commercial Credit Cards Transactions: % Growth 2014-2019
Table 45 Personal Credit Cards: Number of Cards in Circulation 2014-2019
Table 46 Personal Credit Cards Transactions 2014-2019
Table 47 Personal Credit Cards in Circulation: % Growth 2014-2019
Table 48 Personal Credit Cards Transactions: % Growth 2014-2019
Table 49 Credit Cards: Number of Cards by Issuer 2014-2018
Table 50 Credit Cards: Number of Cards by Operator 2014-2018
Table 51 Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 52 Credit Cards Payment Transaction Value by Operator 2014-2018
Table 53 Commercial Credit Cards: Number of Cards by Issuer 2014-2018
Table 54 Commercial Credit Cards: Number of Cards by Operator 2014-2018
Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2014-2018
Table 57 Personal Credit Cards: Number of Cards by Issuer 2014-2018
Table 58 Personal Credit Cards: Number of Cards by Operator 2014-2018
Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 60 Personal Credit Cards Payment Transaction Value by Operator 2014-2018
Table 61 Forecast Credit Cards: Number of Cards in Circulation 2019-2024
Table 62 Forecast Credit Cards Transactions 2019-2024
Table 63 Forecast Credit Cards in Circulation: % Growth 2019-2024
Table 64 Forecast Credit Cards Transactions: % Growth 2019-2024
Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 66 Forecast Commercial Credit Cards Transactions 2019-2024
Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2019-2024
Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 70 Forecast Personal Credit Cards Transactions 2019-2024
Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2019-2024
Table 72 Forecast Personal Credit Cards Transactions: % Growth 2019-2024

Debit Cards in Canada - Category analysis

Debit Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Contactless payments expected to ensure steady growth in debit transactions

Technological innovations improve the user experience

Challenges to growth

COMPETITIVE LANDSCAPE

Large banks dominate debit cards due to wide networks

Lower fees increase the popularity of online-only banks

New products and partners aim to attract consumers

CATEGORY DATA

Table 73 Debit Cards: Number of Cards in Circulation 2014-2019
Table 74 Debit Cards Transactions 2014-2019
Table 75 Debit Cards in Circulation: % Growth 2014-2019
Table 76 Debit Cards Transactions: % Growth 2014-2019
Table 77 Debit Cards: Number of Cards by Issuer 2014-2018
Table 78 Debit Cards: Number of Cards by Operator 2014-2018
Table 79 Debit Cards Payment Transaction Value by Issuer 2014-2018
Table 80 Debit Cards Payment Transaction Value by Operator 2014-2018
Table 81 Forecast Debit Cards: Number of Cards in Circulation 2019-2024
Table 82 Forecast Debit Cards Transactions 2019-2024
Table 83 Forecast Debit Cards in Circulation: % Growth 2019-2024
Table 84 Forecast Debit Cards Transactions: % Growth 2019-2024

Pre-Paid Cards in Canada - Category analysis

Pre-Paid Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Pre-paid cards expected to continue to record strong growth

Consumers use pre-paid cards to better manage their personal finances

Steady growth for closed loop pre-paid cards thanks to e-gift cards

COMPETITIVE LANDSCAPE

Card networks focus on different consumer groups

Driving pre-paid cards into the mainstream

The rising popularity of transportation cards

CATEGORY DATA

Table 85 Pre-paid Cards: Number of Cards in Circulation 2014-2019
Table 86 Pre-paid Cards Transactions 2014-2019
Table 87 Pre-paid Cards in Circulation: % Growth 2014-2019
Table 88 Pre-paid Cards Transactions: % Growth 2014-2019
Table 89 Closed Loop Pre-paid Cards Transactions 2014-2019
Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 91 Open Loop Pre-paid Cards Transactions 2014-2019
Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 93 Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 94 Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 95 Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 96 Pre-paid Cards Transaction Value by Operator 2014-2018
Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 98 Closed Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 99 Open Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 100 Open Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 101 Forecast Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 102 Forecast Pre-paid Cards Transactions 2019-2024
Table 103 Forecast Pre-paid Cards in Circulation: % Growth 2019-2024
Table 104 Forecast Pre-paid Cards Transactions: % Growth 2019-2024
Table 105 Forecast Closed Loop Pre-paid Cards Transactions 2019-2024
Table 106 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 107 Forecast Open Loop Pre-paid Cards Transactions 2019-2024

Store Cards in Canada - Category analysis

Store Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Retailers use store cards as a strategy to build customer loyalty

More competition faced by store cards, especially from co-branded credit cards

Store cards remain relevant as an alternative financing solution

COMPETITIVE LANDSCAPE

Consolidation continues in store cards

Fintech companies have the potential to shake up the category

Range of store cards offered by some players

CATEGORY DATA

Table 108 Store Cards: Number of Cards in Circulation 2014-2019
Table 109 Store Cards Transactions 2014-2019
Table 110 Store Cards in Circulation: % Growth 2014-2019
Table 111 Store Cards Transactions: % Growth 2014-2019
Table 112 Store Cards: Number of Cards by Issuer 2014-2018
Table 113 Store Cards: Payment Transaction Value by Issuer 2014-2018
Table 114 Forecast Store Cards: Number of Cards in Circulation 2019-2024
Table 115 Forecast Store Cards Transactions 2019-2024
Table 116 Forecast Store Cards in Circulation: % Growth 2019-2024
Table 117 Forecast Store Cards Transactions: % Growth 2019-2024

Financial Cards and Payments in Canada - Industry Overview

EXECUTIVE SUMMARY

Contactless payment and e-commerce drive growth in financial cards

Technological innovations in overlooked areas

Loyalty and reward programmes remain important in credit cards

Big Six lead, but increase their collaboration with fintechs

Financial cards and payments set to remain dynamic

MARKET INDICATORS

Table 118 Number of POS Terminals: Units 2014-2019
Table 119 Number of ATMs: Units 2014-2019
Table 120 Value Lost to Fraud 2014-2019
Table 121 Card Expenditure by Location 2019
Table 122 Financial Cards in Circulation by Type: % Number of Cards 2014-2019
Table 123 Domestic versus Foreign Spend 2019

MARKET DATA

Table 124 Financial Cards by Category: Number of Cards in Circulation 2014-2019
Table 125 Financial Cards by Category: Number of Accounts 2014-2019
Table 126 Financial Cards Transactions by Category: Value 2014-2019
Table 127 Financial Cards by Category: Number of Transactions 2014-2019
Table 128 Consumer Payments by Category: Value 2014-2019
Table 129 Consumer Payments by Category: Number of Transactions 2014-2019
Table 130 M-Commerce by Category: Value 2014-2019
Table 131 M-Commerce by Category: % Value Growth 2014-2019
Table 132 Financial Cards: Number of Cards by Issuer 2014-2018
Table 133 Financial Cards: Number of Cards by Operator 2014-2018
Table 134 Financial Cards: Card Payment Transactions Value by Operator 2014-2018
Table 135 Financial Cards: Card Payment Transactions Value by Issuer 2014-2018
Table 136 Forecast Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 137 Forecast Financial Cards by Category: Number of Accounts 2019-2024
Table 138 Forecast Financial Cards Transactions by Category: Value 2019-2024
Table 139 Forecast Financial Cards by Category: Number of Transactions 2019-2024
Table 140 Forecast Consumer Payments by Category: Value 2019-2024
Table 141 Forecast Consumer Payments by Category: Number of Transactions 2019-2024
Table 142 Forecast M-Commerce by Category: Value 2019-2024
Table 143 Forecast M-Commerce by Category: % Value Growth 2019-2024

Megatrends

Country Report

Debit Cards in Canada

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Contactless payments expected to ensure steady growth in debit transactions

Technological innovations improve the user experience

Challenges to growth

COMPETITIVE LANDSCAPE

Large banks dominate debit cards due to wide networks

Lower fees increase the popularity of online-only banks

New products and partners aim to attract consumers

Overview

Why buy this report?

SAMPLES

Delivery Method

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

Positive performance expected due to high-spending clientele

Few new product launches due to lack of demand

Charge cards suffer from a lack of marketing and high fees, but opportunities remain

COMPETITIVE LANDSCAPE

American Express dominates charge cards

Uncertain outlook for Diners Club

Expansion of card acceptance to boost sales

CATEGORY DATA

Credit Cards in Canada - Category analysis

Credit Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Strong performance due to contactless technology, e-commerce and rewards

The negotiation of lower interchange fees will help retailers

Issuers target millennials with tailored rewards

COMPETITIVE LANDSCAPE

Leading issuers challenged by new fintech players

Credit cards environment undergoing technological transformation

Focus could shift to premium credit cards with better rewards

CATEGORY DATA

Debit Cards in Canada - Category analysis

Debit Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Contactless payments expected to ensure steady growth in debit transactions

Technological innovations improve the user experience

Challenges to growth

COMPETITIVE LANDSCAPE

Large banks dominate debit cards due to wide networks

Lower fees increase the popularity of online-only banks

New products and partners aim to attract consumers

CATEGORY DATA

Pre-Paid Cards in Canada - Category analysis

Pre-Paid Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Pre-paid cards expected to continue to record strong growth

Consumers use pre-paid cards to better manage their personal finances

Steady growth for closed loop pre-paid cards thanks to e-gift cards

COMPETITIVE LANDSCAPE

Card networks focus on different consumer groups

Driving pre-paid cards into the mainstream

The rising popularity of transportation cards

CATEGORY DATA

Store Cards in Canada - Category analysis

Store Cards in Canada - Company Profile

HEADLINES

PROSPECTS

Retailers use store cards as a strategy to build customer loyalty

More competition faced by store cards, especially from co-branded credit cards

Store cards remain relevant as an alternative financing solution

COMPETITIVE LANDSCAPE

Consolidation continues in store cards

Fintech companies have the potential to shake up the category