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Home » Canada Report


Cards, Payments & Consumer Banking

Author: Lafferty Research

Publishing date: May 2018

A comprehensive overview of the cards, payments and consumer banking market in Canada.

Canada Research Summary Highlights:

  • Canadian consumers are frequent users of payment cards by international standards. In 2017, the average adult made 369 card payments, just over one per day.
  • Non-cash payments account for over 60 percent of consumer payments and close to 90 percent of the value of payments.
  • Canada is among the global leaders in both ATM and POS penetration relative to the country's population.
  • The country's credit cards market is highly competitive. Issuers are offering increasingly lucrative cashback and rewards to attract cardholders.
  • This has incentivised consumers to choose credit over debit. Credit card spend has grown by an average of eight percent in the last four years, compared to three percent growth for debit cards.
  • Interac, which is a bank-owned, not-for-profit company, holds a virtual monopoly position in the debit cards market.

A dedicated team of analysts and researchers use both primary and secondary source data, and conduct in-depth interviews with senior industry executives and experts; each report includes over 320 metrics.


Credit Cards:
We have industry leading credit card coverage. We detail the past present and future of the industry through our data and commentary, including:

  • Market size split by consumer and commercial credit cards: number of cards, transaction volume, billed volume
  • Profit pool analysis
  • Competitive landscape: networks, issuers

Debit Cards:

  • Market size: number of cards, transaction volume, billed volume
  • Competitive landscape: networks, issuers

Prepaid Cards:

  • Market size: number of cards, transaction volume, billed volume

Merchant Acquiring

  • Competitive Landscape
  • Pricing
  • Processing Relationships

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