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Canadian Payments Forecast, 2021

  • ID: 5292853
  • Report
  • July 2021
  • Region: Canada
  • 140 Pages
  • Technology Strategies International

The COVID-19 pandemic has seen drastic changes to the performance of the Canadian economy, and dramatic shifts in consumer spending and payment habits. The rapid shift away from cash to contactless payments, and the substantial increase in online shopping, are set to become permanent features of the Canadian consumer payments scene, especially given the extension of the pandemic into 2021. But the planned rollout of a vaccine, which promises an end to the pandemic, is likely to see Canadians far more optimistic about their economic future than just one year ago.

Canadian Payments Forecast, 2021 will provide detailed insights into how the unprecedented developments in the Canadian economy brought about by responses to the COVID-19 pandemic have affected consumer payments in Canada, and how this is likely to play out in the coming years in the context of new technologies, business models and fintechs that are instrumental in shaping this future. 

Drawing on survey research from more than 2,000 Canadian consumers, Canadian Payments Forecast, 2021 is a critical strategic resource for payment professionals, providing essential in-depth insights and forecasts across all consumer payment modalities to facilitate effective strategic planning and product development in the wake of the pandemic. 

Canadian Payments Forecast, 2021 provides an in-depth analysis of each of the major consumer payments segments in the Canadian market. Detailed five-year forecasts are presented on consumer payments and related acceptance infrastructure. Payment types included in the report:

Payment types included in the report:

  • Cash
  • Cheques
  • Debit cards
  • Credit cards
  • Contactless payments
  • Mobile payments
  • Online purchases
  • Bill payments and transfers
  • Prepaid cards
  • Loyalty redemptions
  • Gift cards
  • P2P payments
  • International remittances
  • Wearable payments
  • Virtual currencies

Included in this year's comprehensive update of the report:

  • In-depth analysis on prospects for the Canadian economy, personal consumption expenditure, and the retail sector as Canada moves out of an environment dominated by the pandemic
  • Analysis and forecast for each major consumer payment segment in the wake of developments in the Canadian economy 
  • An in-depth assessment of the penetration and acceptance of emerging payment technologies and how these will shape the post-pandemic era in payments
  • Key Indicator tables for all major payment modes

Recognized by industry leaders as the most comprehensive, authoritative and independent review of the market available in Canada, Canadian Payments Forecast is now in its 12th year of publication. A strategic resource for payment professionals, the report provides essential in-depth planning information for executives and managers responsible for achieving growth in Canada's payment industry.

Methodology:

  • Desk research
  • Executive interviews
  • Excerpts from primary market research among 2,000 consumers
  • Analysis and insight, based on 30 years of advising clients in the international payments market
Note: Product cover images may vary from those shown

EXECUTIVE SUMMARY

1. INTRODUCTION

  • Objectives
  • Methodology
  • Forecasts
  • Currency
  • Some Notes on this Year’s Report
  • Document Navigation
  • Acknowledgments
  • List of Abbreviations

2. MARKET ANALYSIS

  • The Canadian Economy
  • Cash
  • Cheques
  • Debit
  • Credit Cards
  • Contactless
  • Mobile
  • Online
  • Bill Payments and Transfers
  • Wearable Payments
  • Prepaid Cards (Payment Brands)
  • Gift Cards
  • Person-to-Person (P2P) Payments
  • International Remittances
  • Virtual Currencies
  • Consumer Payments in Perspective

List of Charts and Tables

INTRODUCTION

  • Forecasting Approach
  • USD/CAD Exchange Rate

THE CANADIAN ECONOMY

  • Economic Highlights
  • Annual Change in Real GDP, PCE and Retail Sales  (2010-2020)
  • Components of PCE (2020)
  • Canadian Retail Sales by Sector (2020)
  • Growth in Retail Trade by Segment (Growth in 2020; CAGR: 2015-2020)
  • Forecast Real Growth in GDP (2020-2025)
  • Canadian Consumer Confidence Index (December 2006-July 2021)
  • Forecast Real Growth in GDP, Retail Sales and PCE(2020-2025)
  • Components of PCE (2020 and 2025)

CASH

  • Cash Highlights
  • Canadian Bank Notes and Coin in Circulation(2009-2020)
  • Number of ABMs in Canada by Ownership(2005-2020)
  • Volume and Value of Cash Withdrawals at ABMs in Canada (2005-2020)
  • Cash Available for Consumer Payment Transactions (2005-2020)
  • Value and Volume of Cash Transactions (2005-2020)
  • Forecast Number of ABMs in Canada by Ownership (2020-2025)
  • Forecast Volume and Value of Cash Withdrawals at
  • ABMs in Canada (2020-2025)
  • Forecast Cash Available for Consumer Payment
  • Transactions (2020-2025)
  • Forecast of Cash-based Retail Payment Transaction
  • Volumes in Canada (2020-2025)

CHEQUES

  • Cheque Highlights
  • Volume and Value of Personal Cheques Cleared through the ACSS in Canada (2006-2020)
  • Reasons for Using Personal Cheques (P12M)
  • Forecast Volume and Value of Personal Cheques Cleared through the ACSS in Canada (2020-2025)

DEBIT

  • Debit Highlights
  • Value and Volume of Interac Debit Transactions(2005-2020)
  • Forecast Value and Volume of Interac Debit
  • Transactions (2020-2025)
  • Forecast Number of Merchants and Terminals
  • Accepting Interac Debit Payments (2020-2025)

CREDIT CARDS

  • Credit Card Highlights
  • Forecast Total Number of Credit Cards Issued in Canada(2020-2025)
  • Gross Volume and Value of Credit Card Transactions(2006-2020)
  • Value of Credit Card Transactions by Type(2006-2020)
  • Volume of Credit Card Transactions by Type(2006-2020)
  • Forecast Gross Volume and Value of Credit Card
  • Transactions (2020-2025)
  • Forecast Value of Credit Card Transactions by Type (2020-2025)
  • Forecast Volume Credit Card Transactions by Type (2020-2025)
  • Forecast Number of Merchant Outlets Accepting Visa and MasterCard (2020-2025)
  • Forecast Canadian Credit Card Loans (2020-2025) 

CONTACTLESS

  • Contactless Highlights
  • Contactless Payment Values and Volumes(2013-2020)
  • Ownership of Contactless Card Brands in Canada
  • Usage of Contactless Payments Cards at Merchants(P6M)
  • Forecast Contactless Payment Card Users and Terminals (2020-2025)
  • Forecast Contactless Payment Values and Volumes(2020-2025)
  • Contactless as a Proportion of Total Cash, Debit and 
  • Credit Transactions

MOBILE

  • Mobile Highlights
  • Forecast Number of Mobile Subscribers in Canada (2020-2025)
  • Forecast NFC Handset Penetration in Canada (2020-2025)
  • Primary Smart Phone Operating System Ownership (2014-2020)
  • Payment Applications Installed on Smart Phones
  • Usage of Smart Phones for Mobile Banking
  • Payments Made Using a Smart Phone
  • Volume and Value of All Mobile Payments Transactions (2012-2020)
  • Forecast Volume and Value of All Mobile Payment
  • Transactions (2020-2025)
  • Forecast Volume and Value of In-Store Mobile Payments (2020-2025)

ONLINE

  • Online Highlights
  • Volume and Value of Online Purchases in Canada(2005-2020)
  • Categories of Canadian Online Purchases (P12M)
  • Payment Methods for Online Purchases (P12M)
  • Online Purchases by Region (P12M)
  • Forecast Volume and Value of Online Purchases in Canada (2020-2025)

BILL PAYMENTS AND TRANSFERS

  • Bill Payments and Transfers Highlights
  • Transfers and Payments by Delivery Channel (2007-2020)
  • Share of Transfers and Payments by Delivery Channel (2007-2020)
  • Online Bill Payments by Category (P12M)
  • Forecast Transfers and Payments by Delivery Channel (2020-2025)
  • Forecast Share of Transfers and Payments by Delivery Channel (2020-2025)
  • Growth by Delivery Channel and Transaction Type (CAGR: 2015-2020, 2020-2025)

WEARABLE PAYMENTS

  • Wearable Highlights
  • Ownership of Fitness Trackers and Smart Watches (2015-2025)
  • Forecast Wearables Payment Values and Volumes (2020-2025)

PREPAID CARDS (PAYMENT BRANDS)

  • Prepaid Card Highlights
  • Total Prepaid Value and Volume (2010-2020)
  • Brand of Prepaid Card Purchased (P12M)
  • Prepaid Value and Volume Forecast (2020-2025)

GIFT CARDS

  • Gift Card Highlights
  • Total Gift Card Value and Volume (2010-2020)
  • Categories of Gift Cards / Vouchers Purchased (P12M)
  • Gift Card Value and Volume Forecast (2020-2025)

PERSON-2-PERSON (P2P) PAYMENTS

  • P2P Payment Highlights
  • Value and Volume of P2P Transactions (2011-2020)
  • Methods of P2P Payment (P6M)
  • Forecast Value and Volume of P2P Transactions (2020-2025)

INTERNATIONAL REMITTANCES

  • International Remittance Highlights
  • Value and Volume of International Remittances(2011-2020)
  • Services Used for International Remittances (P12M)
  • Remittances by Region (P12M)
  • Forecast Value and Volume of International
  • Remittances (2020-2025)

VIRTUAL CURRENCIES

  • Awareness and Usage of Cryptocurrencies (2020)
  • Virtual Currency Usage Intent Trend

CONSUMER PAYMENTS IN PERSPECTIVE

  • Primary Payment Highlights
  • Bill Payments and Transfers Highlights
  • Secondary Payment Highlights
  • Vertical Market Highlights
  • Share of Value of PCE by Payment Type (2006-2020)
  • Number of Payment Transactions by Payment
  • Instrument Type (2006-2020)
  • Forecast Share of Value of PCE by Payment Type(2020-2025)
  • Forecast Number of Payment Transactions by Payment Instrument Type (2020-2025) 
  • Forecast Value of Payment Transactions by Payment Instrument Type (Total; 2020-2025)
  • Forecast Total Number of Payment Transactions by Payment Instrument Type (Total; 2020-2025)
  • Forecast Annual Growth Rates for Primary Payment Instruments (CAGR: 2020-2025)
  • Forecast Growth for Secondary Payment Segments(CAGR: 2020-2025)
Note: Product cover images may vary from those shown

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