Debit Cards in Canada

December 2022
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Overview:

Understand the latest market trends and future growth opportunities for the Debit Card 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 Card 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 Card 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 Card Transactions in Canada?
  • What are the major trends key to understanding Debit Card 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?
Download Table of Contents

Charge Cards in Canada - Category analysis

Charge Cards in Canada - Company Profile

KEY DATA FINDINGS

Limited options for charge cards affect its use
American Express raises credit score and income requirements for charge cards
No spending limit feature increases suitability for business clients
Rise in small businesses will boost demand for charge cards
Niche for major banks in Canada
Credit score concern among Canadians might favour use of charge cards
Table 1 Charge Cards: Number of Cards in Circulation 2017-2022
Table 2 Charge Cards Transactions 2017-2022
Table 3 Charge Cards in Circulation: % Growth 2017-2022
Table 4 Charge Cards Transactions: % Growth 2017-2022
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2017-2022
Table 6 Commercial Charge Cards Transactions 2017-2022
Table 7 Commercial Charge Cards in Circulation: % Growth 2017-2022
Table 8 Commercial Charge Cards Transactions: % Growth 2017-2022
Table 9 Personal Charge Cards: Number of Cards in Circulation 2017-2022
Table 10 Personal Charge Cards Transactions 2017-2022
Table 11 Personal Charge Cards in Circulation: % Growth 2017-2022
Table 12 Personal Charge Cards Transactions: % Growth 2017-2022
Table 13 Charge Cards: Number of Cards by Issuer 2017-2021
Table 14 Charge Cards: Number of Cards by Operator 2017-2021
Table 15 Charge Cards Payment Transaction Value by Issuer 2017-2021
Table 16 Charge Cards Payment Transaction Value by Operator 2017-2021
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2017-2021
Table 18 Commercial Charge Cards: Number of Cards by Operator 2017-2021
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2017-2021
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2017-2021
Table 21 Personal Charge Cards: Number of Cards by Issuer 2017-2021
Table 22 Personal Charge Cards: Number of Cards by Operator 2017-2021
Table 23 Personal Charge Cards Transaction Value by Issuer 2017-2021
Table 24 Personal Charge Cards Transaction Value by Operator 2017-2021
Table 25 Forecast Charge Cards: Number of Cards in Circulation 2022-2027
Table 26 Forecast Charge Cards Transactions 2022-2027
Table 27 Forecast Charge Cards in Circulation: % Growth 2022-2027
Table 28 Forecast Charge Cards Transactions: % Growth 2022-2027
Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2022-2027
Table 30 Forecast Commercial Charge Cards Transactions 2022-2027
Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2022-2027
Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2022-2027
Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2022-2027
Table 34 Forecast Personal Charge Cards Transactions 2022-2027
Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2022-2027
Table 36 Forecast Personal Charge Cards Transactions: % Growth 2022-2027

Credit Cards in Canada - Category analysis

Credit Cards in Canada - Company Profile

KEY DATA FINDINGS

Credit card spending continues to grow in tandem with a fuller reopening of the economy
Bigger sign up bonusses and higher annual fees
Innovative payment plans
Robust growth in credit card spending projected from 2023
Criteria for issuing new credit cards set to tighten
Growing adoption of mobile payments bodes well for credit cards
Table 37 Credit Cards: Number of Cards in Circulation 2017-2022
Table 38 Credit Cards Transactions 2017-2022
Table 39 Credit Cards in Circulation: % Growth 2017-2022
Table 40 Credit Cards Transactions: % Growth 2017-2022
Table 41 Commercial Credit Cards: Number of Cards in Circulation 2017-2022
Table 42 Commercial Credit Cards Transactions 2017-2022
Table 43 Commercial Credit Cards in Circulation: % Growth 2017-2022
Table 44 Commercial Credit Cards Transactions: % Growth 2017-2022
Table 45 Personal Credit Cards: Number of Cards in Circulation 2017-2022
Table 46 Personal Credit Cards Transactions 2017-2022
Table 47 Personal Credit Cards in Circulation: % Growth 2017-2022
Table 48 Personal Credit Cards Transactions: % Growth 2017-2022
Table 49 Credit Cards: Number of Cards by Issuer 2017-2021
Table 50 Credit Cards: Number of Cards by Operator 2017-2021
Table 51 Credit Cards Payment Transaction Value by Issuer 2017-2021
Table 52 Credit Cards Payment Transaction Value by Operator 2017-2021
Table 53 Commercial Credit Cards: Number of Cards by Issuer 2017-2021
Table 54 Commercial Credit Cards: Number of Cards by Operator 2017-2021
Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2017-2021
Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2017-2021
Table 57 Personal Credit Cards: Number of Cards by Issuer 2017-2021
Table 58 Personal Credit Cards: Number of Cards by Operator 2017-2021
Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2017-2021
Table 60 Personal Credit Cards Payment Transaction Value by Operator 2017-2021
Table 61 Forecast Credit Cards: Number of Cards in Circulation 2022-2027
Table 62 Forecast Credit Cards Transactions 2022-2027
Table 63 Forecast Credit Cards in Circulation: % Growth 2022-2027
Table 64 Forecast Credit Cards Transactions: % Growth 2022-2027
Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2022-2027
Table 66 Forecast Commercial Credit Cards Transactions 2022-2027
Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2022-2027
Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2022-2027
Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2022-2027
Table 70 Forecast Personal Credit Cards Transactions 2022-2027
Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2022-2027
Table 72 Forecast Personal Credit Cards Transactions: % Growth 2022-2027

Debit Cards in Canada - Category analysis

Debit Cards in Canada - Company Profile

KEY DATA FINDINGS

Reopening of society boosts transactions
Canadians rely on credit cards more than debit cards
Major banks encourage clients to open account virtually
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
Table 73 Debit Cards: Number of Cards in Circulation 2017-2022
Table 74 Debit Cards Transactions 2017-2022
Table 75 Debit Cards in Circulation: % Growth 2017-2022
Table 76 Debit Cards Transactions: % Growth 2017-2022
Table 77 Debit Cards: Number of Cards by Issuer 2017-2021
Table 78 Debit Cards: Number of Cards by Operator 2017-2021
Table 79 Debit Cards Payment Transaction Value by Issuer 2017-2021
Table 80 Debit Cards Payment Transaction Value by Operator 2017-2021
Table 81 Forecast Debit Cards: Number of Cards in Circulation 2022-2027
Table 82 Forecast Debit Cards Transactions 2022-2027
Table 83 Forecast Debit Cards in Circulation: % Growth 2022-2027
Table 84 Forecast Debit Cards Transactions: % Growth 2022-2027

Pre-Paid Cards in Canada - Category analysis

Pre-Paid Cards in Canada - Company Profile

KEY DATA FINDINGS

Wider use among young people and international students supports growth in pre-paid cards category
Digital transformation of payment system in Canada continues to favour use of pre-paid cards
Growing offer of innovative pre-paid card solutions
Shift away from cash and cheques creates opportunities for open loop category
Closed loop pre-paid cards set to post robust growth in 2023
Fintech companies will remain key drivers of innovation
Table 85 Pre-paid Cards: Number of Cards in Circulation 2017-2022
Table 86 Pre-paid Cards Transactions 2017-2022
Table 87 Pre-paid Cards in Circulation: % Growth 2017-2022
Table 88 Pre-paid Cards Transactions: % Growth 2017-2022
Table 89 Closed Loop Pre-paid Cards Transactions 2017-2022
Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2017-2022
Table 91 Open Loop Pre-paid Cards Transactions 2017-2022
Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2017-2022
Table 93 Pre-paid Cards: Number of Cards by Issuer 2017-2021
Table 94 Pre-paid Cards: Number of Cards by Operator 2017-2021
Table 95 Pre-paid Cards Transaction Value by Issuer 2017-2021
Table 96 Pre-paid Cards Transaction Value by Operator 2017-2021
Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2017-2021
Table 98 Closed Loop Pre-paid Cards Transaction Value by Issuer 2017-2021
Table 99 Open Loop Pre-paid Cards: Number of Cards by Operator 2017-2021
Table 100 Open Loop Pre-paid Cards Transaction Value by Operator 2017-2021
Table 101 Forecast Pre-paid Cards: Number of Cards in Circulation 2022-2027
Table 102 Forecast Pre-paid Cards Transactions 2022-2027
Table 103 Forecast Pre-paid Cards in Circulation: % Growth 2022-2027
Table 104 Forecast Pre-paid Cards Transactions: % Growth 2022-2027
Table 105 Forecast Closed Loop Pre-paid Cards Transactions 2022-2027
Table 106 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2022-2027
Table 107 Forecast Open Loop Pre-paid Cards Transactions 2022-2027
Table 108 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2022-2027

Store Cards in Canada - Category analysis

Store Cards in Canada - Company Profile

KEY DATA FINDINGS

Recovery of retail shopping supports use 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
Cost-of-living crisis will temper expansion of store cards
Threats from co-branded credit cards and BNPL services set to intensify
Competitive landscape expected to remain highly consolidated
Table 109 Store Cards: Number of Cards in Circulation 2017-2022
Table 110 Store Cards Transactions 2017-2022
Table 111 Store Cards in Circulation: % Growth 2017-2022
Table 112 Store Cards Transactions: % Growth 2017-2022
Table 113 Store Cards: Number of Cards by Issuer 2017-2021
Table 114 Store Cards: Payment Transaction Value by Issuer 2017-2021
Table 115 Forecast Store Cards: Number of Cards in Circulation 2022-2027
Table 116 Forecast Store Cards Transactions 2022-2027
Table 117 Forecast Store Cards in Circulation: % Growth 2022-2027
Table 118 Forecast Store Cards Transactions: % Growth 2022-2027

Financial Cards and Payments in Canada - Industry Overview

Financial cards and payments in 2022: The big picture
2022 key trends
Competitive landscape
What next for financial cards and payments?
Table 119 Number of POS Terminals: Units 2017-2022
Table 120 Number of ATMs: Units 2017-2022
Table 121 Value Lost to Fraud 2017-2022
Table 122 Card Expenditure by Location 2022
Table 123 Financial Cards in Circulation by Type: % Number of Cards 2017-2022
Table 124 Domestic versus Foreign Spend 2022
Table 125 Financial Cards by Category: Number of Cards in Circulation 2017-2022
Table 126 Financial Cards by Category: Number of Accounts 2017-2022
Table 127 Financial Cards Transactions by Category: Value 2017-2022
Table 128 Financial Cards by Category: Number of Transactions 2017-2022
Table 129 Commerical Payments by Category: Value 2017-2022
Table 130 Commercial Payments by Category: Number of Transactions 2017-2022
Table 131 Personal Payments by Category: Value 2017-2022
Table 132 Personal Payments by Category: Number of Transactions 2017-2022
Table 133 M-Commerce by Category: Value 2017-2022
Table 134 M-Commerce by Category: % Value Growth 2017-2022
Table 135 Financial Cards: Number of Cards by Issuer 2017-2021
Table 136 Financial Cards: Number of Cards by Operator 2017-2021
Table 137 Financial Cards: Card Payment Transactions Value by Operator 2017-2021
Table 138 Financial Cards: Card Payment Transactions Value by Issuer 2017-2021
Table 139 Forecast Financial Cards by Category: Number of Cards in Circulation 2022-2027
Table 140 Forecast Financial Cards by Category: Number of Accounts 2022-2027
Table 141 Forecast Financial Cards Transactions by Category: Value 2022-2027
Table 142 Forecast Financial Cards by Category: Number of Transactions 2022-2027
Table 143 Forecast Commercial Payments by Category: Value 2022-2027
Table 144 Forecast Commercial Payments by Category: Number of Transactions 2022-2027
Table 145 Forecast Personal Payments by Category: Value 2022-2027
Table 146 Forecast Personal Payments by Category: Number of Transactions 2022-2027
Table 147 Forecast M-Commerce by Category: Value 2022-2027
Table 148 Forecast M-Commerce by Category: % Value Growth 2022-2027

DISCLAIMER

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

Debit Card Transactions

  • Commercial Debit Card Transactions
  • Personal Debit Card Transactions

Debit Card 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 Card Transactions research and analysis database.

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