Canada Cards and Payments - Opportunities and Risks to 2023

Canada Cards and Payments - Opportunities and Risks to 2023
 
Summary

 
GlobalData’s Canada Cards and Payments - Opportunities and Risks to 2023 report provides detailed analysis of market trends in the Canadian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review-period (2015-19e).
 
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2019e-23f). It also offers information on the countrys competitive landscape, including market shares of issuers and schemes.
 
The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
 
This report provides top-level market analysis, information and insights into the Canadian cards and payments industry, including -
- Current and forecast values for each market in the Canadian cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including cash, cards, credit transfers, direct debits, and cheques. It also, includes an overview of the countrys key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Canadian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
 
Scope
 
- In August 2018, the Canadian government announced it had secured voluntary commitments from Visa, Mastercard and American Express to reduce merchant fees in Canada for SMEs accepting credit cards. Visa and Mastercard have agreed to lower domestic consumer interchange fees to an annual average effective rate of 1.40% for five years, down from the current figure of 1.5%. Visa intends to implement the changes in domestic interchange fees from April 2020, while Mastercard will from May 2020. Furthermore, in September 2019, the Canadian government announced plans to eliminate processing fees on goods and services tax/harmonized sales tax (GST/HST) for credit card transactions, which would help small merchants to save nearly C$500m ($366.5m) per year in fees.
- Payment service providers and retailers are increasingly focusing on innovation to offer convenient and faster payment services to their customers. In May 2019, Walmart Canada introduced a ‘fast lane’ checkout, enabling users to skip the queue at a store. Users need to download the ‘My Walmart‘ app and further scan the barcode on their products using the app. Then, the user needs to visit the fast lane section and scan the order barcode on their phone at the barcode station. The user is then charged on their credit card linked to the app. Similarly, in October 2019, the retail chain Sobeys introduced a smart shopping cart equipped with multiple cameras, a scanner, a scale and a payment system for faster checkout.
- Online retailers are increasingly focusing on supply chain solutions to optimize logistics operations. In December 2019, for instance, Walmart opened a distribution center to fulfil its online orders delivery. Furthermore, e-retailers such as UNIQLO, Walmart and Home Depot feature click-and-collect options when shopping online. Customers can order goods via the webshop of a retailer and then pick them up in a physical store. To reduce waiting time and cost, IKEA launched the click-and-collect option at all of its store locations in August 2019.
 
Reasons to Buy
 
- Make strategic business decisions, using top-level historic and forecast market data, related to the Canadian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Canadian cards and payments industry.
- Assess the competitive dynamics in the Canadian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Canada.
- Gain insights into key regulations governing the Canadian cards and payments industry.

Card-based Payments
Merchant Acquiring
E-commerce Payments
Mobile Proximity Payments
P2P Payments
Bill Payments
Alternative Payments
Payment Innovations
Payments Infrastructure & Regulation
Appendix

Companies Mentioned

Desjardins
Royal Bank of Canada
TD Canada Trust
Scotiabank
CIBC
Bank of Montreal
Canadian Tire Bank
ATB Financial
Laurentian Bank
National Bank of Canada
Presidents Choice Financial
Capital One
Amex Bank of Canada
HSBC
Interac
Mastercard
Visa
American Express


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