Debit Cards in Canada

November 2021
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Overview:

Understand the latest market trends and future growth opportunities for the Debit Transactions industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

If you're in the Debit Transactions industry in Canada, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Debit Transactions in Canada report includes:

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

This report answers:

  • What is the market size of Debit Transactions in Canada?
  • What are the major trends key to understanding Debit Transactions in Canada?
  • How has COVID-19, recession and macroeconomic volatility impacted the market?
  • How long will the market take to recover? What are the opportunities now?
  • How will political context and shifting cultural values shape future growth?
  • Where is future growth expected to be most dynamic?

Charge Cards in Canada - Category analysis

Charge Cards in Canada - Company Profile

KEY DATA FINDINGS

2021 DEVELOPMENTS

Recovery subdued by ongoing economic uncertainty and reduced travel spending
American Express expands its offer of welcome bonuses and other rewards
American Express continues to support small businesses with “Shop Small” event

PROSPECTS AND OPPORTUNITIES

Volume and current value transactions expected to bounce back quickly in 2022
Charge cards set to benefit from release of pent-up demand for travel
Recovery of commercial charge cards will lag behind that of the personal category

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2016-2021 Table 2 Charge Cards Transactions 2016-2021 Table 3 Charge Cards in Circulation: % Growth 2016-2021 Table 4 Charge Cards Transactions: % Growth 2016-2021 Table 5 Commercial Charge Cards: Number of Cards in Circulation 2016-2021 Table 6 Commercial Charge Cards Transactions 2016-2021 Table 7 Commercial Charge Cards in Circulation: % Growth 2016-2021 Table 8 Commercial Charge Cards Transactions: % Growth 2016-2021 Table 9 Personal Charge Cards: Number of Cards in Circulation 2016-2021 Table 10 Personal Charge Cards Transactions 2016-2021 Table 11 Personal Charge Cards in Circulation: % Growth 2016-2021 Table 12 Personal Charge Cards Transactions: % Growth 2016-2021 Table 13 Charge Cards: Number of Cards by Issuer 2016-2020 Table 14 Charge Cards: Number of Cards by Operator 2016-2020 Table 15 Charge Cards Payment Transaction Value by Issuer 2016-2020 Table 16 Charge Cards Payment Transaction Value by Operator 2016-2020 Table 17 Commercial Charge Cards: Number of Cards by Issuer 2016-2020 Table 18 Commercial Charge Cards: Number of Cards by Operator 2016-2020 Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2016-2020 Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2016-2020 Table 21 Personal Charge Cards: Number of Cards by Issuer 2016-2020 Table 22 Personal Charge Cards: Number of Cards by Operator 2016-2020 Table 23 Personal Charge Cards Transaction Value by Issuer 2016-2020 Table 24 Personal Charge Cards Transaction Value by Operator 2016-2020 Table 25 Forecast Charge Cards: Number of Cards in Circulation 2021-2026 Table 26 Forecast Charge Cards Transactions 2021-2026 Table 27 Forecast Charge Cards in Circulation: % Growth 2021-2026 Table 28 Forecast Charge Cards Transactions: % Growth 2021-2026 Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2021-2026 Table 30 Forecast Commercial Charge Cards Transactions 2021-2026 Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2021-2026 Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2021-2026 Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2021-2026 Table 34 Forecast Personal Charge Cards Transactions 2021-2026 Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2021-2026 Table 36 Forecast Personal Charge Cards Transactions: % Growth 2021-2026

Credit Cards in Canada - Category analysis

Credit Cards in Canada - Company Profile

KEY DATA FINDINGS

2021 DEVELOPMENTS

Credit card spending rebounds despite ongoing challenges posed by COVID-19
Credit card operators expand their e-commerce footprint as shopping habits change
Shifting consumer preferences prompt issuers to adjust rewards strategies

PROSPECTS AND OPPORTUNITIES

Robust growth in credit card spending projected from 2022
E-commerce transactions set to become a focal point for issuers
Growing adoption of mobile payments bodes well for credit cards

CATEGORY DATA

Table 37 Credit Cards: Number of Cards in Circulation 2016-2021 Table 38 Credit Cards Transactions 2016-2021 Table 39 Credit Cards in Circulation: % Growth 2016-2021 Table 40 Credit Cards Transactions: % Growth 2016-2021 Table 41 Commercial Credit Cards: Number of Cards in Circulation 2016-2021 Table 42 Commercial Credit Cards Transactions 2016-2021 Table 43 Commercial Credit Cards in Circulation: % Growth 2016-2021 Table 44 Commercial Credit Cards Transactions: % Growth 2016-2021 Table 45 Personal Credit Cards: Number of Cards in Circulation 2016-2021 Table 46 Personal Credit Cards Transactions 2016-2021 Table 47 Personal Credit Cards in Circulation: % Growth 2016-2021 Table 48 Personal Credit Cards Transactions: % Growth 2016-2021 Table 49 Credit Cards: Number of Cards by Issuer 2016-2020 Table 50 Credit Cards: Number of Cards by Operator 2016-2020 Table 51 Credit Cards Payment Transaction Value by Issuer 2016-2020 Table 52 Credit Cards Payment Transaction Value by Operator 2016-2020 Table 53 Commercial Credit Cards: Number of Cards by Issuer 2016-2020 Table 54 Commercial Credit Cards: Number of Cards by Operator 2016-2020 Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2016-2020 Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2016-2020 Table 57 Personal Credit Cards: Number of Cards by Issuer 2016-2020 Table 58 Personal Credit Cards: Number of Cards by Operator 2016-2020 Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2016-2020 Table 60 Personal Credit Cards Payment Transaction Value by Operator 2016-2020 Table 61 Forecast Credit Cards: Number of Cards in Circulation 2021-2026 Table 62 Forecast Credit Cards Transactions 2021-2026 Table 63 Forecast Credit Cards in Circulation: % Growth 2021-2026 Table 64 Forecast Credit Cards Transactions: % Growth 2021-2026 Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2021-2026 Table 66 Forecast Commercial Credit Cards Transactions 2021-2026 Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2021-2026 Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2021-2026 Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2021-2026 Table 70 Forecast Personal Credit Cards Transactions 2021-2026 Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2021-2026 Table 72 Forecast Personal Credit Cards Transactions: % Growth 2021-2026

Debit Cards in Canada - Category analysis

Debit Cards in Canada - Company Profile

KEY DATA FINDINGS

2021 DEVELOPMENTS

Third and fourth waves of COVID-19 temper recovery in debit card transactions
Pandemic accelerates migration from cash to card payments
Contactless payments gain popularity amidst virus concerns

PROSPECTS AND OPPORTUNITIES

Value and volume transactions set to increase throughout the forecast period
Debit cards best placed to profit from growing preference for cashless payments
Payments to small businesses will become a more important driver of transactions

CATEGORY DATA

Table 73 Debit Cards: Number of Cards in Circulation 2016-2021 Table 74 Debit Cards Transactions 2016-2021 Table 75 Debit Cards in Circulation: % Growth 2016-2021 Table 76 Debit Cards Transactions: % Growth 2016-2021 Table 77 Debit Cards: Number of Cards by Issuer 2016-2020 Table 78 Debit Cards: Number of Cards by Operator 2016-2020 Table 79 Debit Cards Payment Transaction Value by Issuer 2016-2020 Table 80 Debit Cards Payment Transaction Value by Operator 2016-2020 Table 81 Forecast Debit Cards: Number of Cards in Circulation 2021-2026 Table 82 Forecast Debit Cards Transactions 2021-2026 Table 83 Forecast Debit Cards in Circulation: % Growth 2021-2026 Table 84 Forecast Debit Cards Transactions: % Growth 2021-2026

Pre-Paid Cards in Canada - Category analysis

Pre-Paid Cards in Canada - Company Profile

KEY DATA FINDINGS

2021 DEVELOPMENTS

Increased use of gift cards lifts performance of closed loop pre-paid cards
Retailers and foodservice players leverage gift cards to generate more business
Mogo offers 2% Bitcoin cashback on Mogo Visa Platinum Prepaid Card purchases

PROSPECTS AND OPPORTUNITIES

Closed loop pre-paid cards set to experience strong recovery from 2022
Shift away from cash and cheques creates opportunities for open loop category
Fintech companies will remain key drivers of innovation

CATEGORY DATA

Table 85 Pre-paid Cards: Number of Cards in Circulation 2016-2021 Table 86 Pre-paid Cards Transactions 2016-2021 Table 87 Pre-paid Cards in Circulation: % Growth 2016-2021 Table 88 Pre-paid Cards Transactions: % Growth 2016-2021 Table 89 Closed Loop Pre-paid Cards Transactions 2016-2021 Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2016-2021 Table 91 Open Loop Pre-paid Cards Transactions 2016-2021 Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2016-2021 Table 93 Pre-paid Cards: Number of Cards by Issuer 2016-2020 Table 94 Pre-paid Cards: Number of Cards by Operator 2016-2020 Table 95 Pre-paid Cards Transaction Value by Issuer 2016-2020 Table 96 Pre-paid Cards Transaction Value by Operator 2016-2020 Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2016-2020 Table 98 Closed Loop Pre-paid Cards Transaction Value by Issuer 2016-2020 Table 99 Open Loop Pre-paid Cards: Number of Cards by Operator 2016-2020 Table 100 Open Loop Pre-paid Cards Transaction Value by Operator 2016-2020 Table 101 Forecast Pre-paid Cards: Number of Cards in Circulation 2021-2026 Table 102 Forecast Pre-paid Cards Transactions 2021-2026 Table 103 Forecast Pre-paid Cards in Circulation: % Growth 2021-2026 Table 104 Forecast Pre-paid Cards Transactions: % Growth 2021-2026 Table 105 Forecast Closed Loop Pre-paid Cards Transactions 2021-2026 Table 106 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2021-2026 Table 107 Forecast Open Loop Pre-paid Cards Transactions 2021-2026 Table 108 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2021-2026

Store Cards in Canada - Category analysis

Store Cards in Canada - Company Profile

KEY DATA FINDINGS

2021 DEVELOPMENTS

Pandemic-related uncertainty hampers recovery of store cards
Store cards face growing competition from buy now pay later (BNPL) services
Appeal of store cards limited by retailer-specific business model

PROSPECTS AND OPPORTUNITIES

Ongoing fallout of COVID-19 will continue to temper expansion of store cards
Threats from co-branded credit cards and BNPL services set to intensify
Competitive landscape expected to remain highly consolidated

CATEGORY DATA

Table 109 Store Cards: Number of Cards in Circulation 2016-2021 Table 110 Store Cards Transactions 2016-2021 Table 111 Store Cards in Circulation: % Growth 2016-2021 Table 112 Store Cards Transactions: % Growth 2016-2021 Table 113 Store Cards: Number of Cards by Issuer 2016-2020 Table 114 Store Cards: Payment Transaction Value by Issuer 2016-2020 Table 115 Forecast Store Cards: Number of Cards in Circulation 2021-2026 Table 116 Forecast Store Cards Transactions 2021-2026 Table 117 Forecast Store Cards in Circulation: % Growth 2021-2026 Table 118 Forecast Store Cards Transactions: % Growth 2021-2026

Financial Cards and Payments in Canada - Industry Overview

EXECUTIVE SUMMARY

Financial cards and payments in 2021: The big picture
2021 key trends
Uneven recovery between personal and commercial transactions in credit cards
Real-Time Rail (RTR) will create new opportunities in digital payments
“Big Six” remain the leading financial card issuers
What next for financial cards and payments?

MARKET INDICATORS

Table 119 Number of POS Terminals: Units 2016-2021 Table 120 Number of ATMs: Units 2016-2021 Table 121 Value Lost to Fraud 2016-2021 Table 122 Card Expenditure by Location 2021 Table 123 Financial Cards in Circulation by Type: % Number of Cards 2016-2021 Table 124 Domestic versus Foreign Spend 2021

MARKET DATA

Table 125 Financial Cards by Category: Number of Cards in Circulation 2016-2021 Table 126 Financial Cards by Category: Number of Accounts 2016-2021 Table 127 Financial Cards Transactions by Category: Value 2016-2021 Table 128 Financial Cards by Category: Number of Transactions 2016-2021 Table 129 Consumer Payments by Category: Value 2016-2021 Table 130 Consumer Payments by Category: Number of Transactions 2016-2021 Table 131 M-Commerce by Category: Value 2016-2021 Table 132 M-Commerce by Category: % Value Growth 2016-2021 Table 133 Financial Cards: Number of Cards by Issuer 2016-2020 Table 134 Financial Cards: Number of Cards by Operator 2016-2020 Table 135 Financial Cards: Card Payment Transactions Value by Operator 2016-2020 Table 136 Financial Cards: Card Payment Transactions Value by Issuer 2016-2020 Table 137 Forecast Financial Cards by Category: Number of Cards in Circulation 2021-2026 Table 138 Forecast Financial Cards by Category: Number of Accounts 2021-2026 Table 139 Forecast Financial Cards Transactions by Category: Value 2021-2026 Table 140 Forecast Financial Cards by Category: Number of Transactions 2021-2026 Table 141 Forecast Consumer Payments by Category: Value 2021-2026 Table 142 Forecast Consumer Payments by Category: Number of Transactions 2021-2026 Table 143 Forecast M-Commerce by Category: Value 2021-2026 Table 144 Forecast M-Commerce by Category: % Value Growth 2021-2026

DISCLAIMER

SOURCES

Summary 1 Research Sources
The following categories and subcategories are included:

Debit Transactions

  • Commercial Debit Card Transactions
  • Personal Debit Card Transactions

Debit Transactions

Debit cards merge the functionality of both an ATM card and direct payment from a bank account (a check substitute in some markets). A debit card allows the cardholder to receive cash and monitor account activity at an ATM machine, as well as pay for goods and services via a point-of-sale terminal. A debit card payment transaction involves the automatic withdrawal of funds from the cardholder’s demand deposit bank account (checking or giro). Since the funds are removed from a bank account, no interest is charged on payments.

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This report originates from Passport, our Debit Transactions research and analysis database.

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