DUBLIN, March 19, 2020 /PRNewswire/ -- The "The Canadian Credit Card Market" report has been added to ResearchAndMarkets.com's offering.
The Canadian card industry has unique features distinct from U.S. payments. This research report describes six industry-shaping trends that fit the market well and provide a strong foundation for the future.
The report draws from survey data in the Canadian edition of the North American Payments Insights, a powerful research asset, which recently expanded into Europe. Readers will also get a glimpse at the global payments database, which provides analytics for more than 100 countries.
Canada has a long history of innovation in payments with differences from the United States card market. Innovations include Interac, which was originally a domestic debit payment scheme that ran outside the traditional branded network payment scheme.
The non-profit model converted to a profit-making venture similar to the path Mastercard and Visa took in the early 2000s. The market also has a progressive Code of Conduct that better positions merchants in the payment scheme.
Non-traditional lenders and technology play an important role in Canada.
Highlights of the research report include:
- Number of cards in circulation and number of active accounts in Canada
- Canadian credit card transaction volume
- Canadian consumers' credit preferences by age cohort
- Requirements of the Code of Conduct for the Credit and Debit Card Industry in Canada
- A discussion of the uneven success of U.S. card issuers in Canada
- Canada's strategies for voluntary reduction of interchange
- Ontario's push to increase minimum-due payments
Key Topics Covered
- Executive Summary
- Payment Card Markets in Canada and the U.S.: The Same but Different
- Debit and Credit Cards in Canada and the U.S.: Different Launchpoints, Different Worlds
- Credit Card Transaction Volume
- Consumer Usage Trends
- Six Industry Trends Shaping the Future of Canadian Payments
- Code of Conduct Protects Merchants
- Non-Canadian Issuers Are Welcome, but Entrance Will Not Be Easy
- Reducing Interchange, Gracefully
- Ontario Takes a Stand to Reduce Card Debt. Will Other Provinces Follow?
- Non-traditional Credit Card Issuers Bring Competition and Innovation
- The Canadian Market Has Been Quick to Embrace Technology
- Conclusions
- References
- Related Research
- Endnotes
Figures & Tables
Figure 1: Active Mastercard and Visa accounts in Canada will approach 50 million by 2023
Figure 2: Credit card transactions in Canada will double or more than double between 2012 and 2023
Figure 3. With few exceptions, patterns of shoppers' payment type preferences in stores are similar in Canada and U.S.
Table 1: An interpretation of the Code of Conduct for the Credit and Debit Card Industry in Canada
Companies Mentioned
- Alberta Treasury Branches
- Bank of Montreal
- Caisses Populaires Desjardins
- Canadian Imperial Bank of Commerce (CIBC)
- Canadian Tire Bank
- Capital One
- Chase Cards Canada
- Citizens Bank
- Credit Union Electronic Transaction Services
- Home Trust
- Interac
- Laurentian Bank
- Mastercard
- MBNA Canada
- National Bank of Canada
- President's Choice Financial
- Royal Bank of Canada
- Scotiabank
- Toronto Dominion Bank (TD)
- Vancouver City Savings Credit Union
- Visa
For more information about this report visit https://www.researchandmarkets.com/r/4dnut4
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Related Links
http://www.researchandmarkets.com
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article