researchFOLKS’ ’‘Canada Cards and Payments Market Analysis” report offers a distinct range of possibilities in the market of payment cards along with the accurately validated statistics of operational cards in the market and their total transactional values. It suggests profitable marketing strategies considering the competitive landscape in the market, purchase trends, payments options in online trade and significant government frameworks impacting the overall payment cards market of Canada.
Our report kindles the hidden opportunities with dependable information about different types of card transactions, volumes of cardholders, market proportion, current accounts, increase within the number of cards, credit cards outstanding balances, transactional values, details of the issuers at the side of available banking schemes and futuristic analysis of overall cards and payment marketplace in Canada.
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Highlights of the report:
The comprehensive analysis of the pay now and pay later cards in the market involving the number of cards in circulation, the average transaction values and volumes, and different application areas of the payment cards in Canada.
Increasing adoption of alternative payment and mobile wallets like Samsung Pay and Android Pay. Samsung Electronics launched its mobile wallet Samsung pay in collaboration with Canadian Imperial Bank of Commerce (CIBC) and accepted by several leading banks in Canada. Similarly, Google introduced Android Pay is accepted by major banks like Bank of Montreal (BMO), CIBC, and Scotia Bank.
The report by Payments Canada states that the contactless payments reached around 2.1 billion in 2016 with their average value and volumes inclined by 78% and 81% respectively. The principal reason for this growth was the constant support from banks like Royal Bank of Canada (RBC), BMO, CIBC, Scotiabank, and TD Canada Trust to its customers to use the contactless cards at POS terminals.
Digital-only banks without any physical presence are slowly gaining prominence in Canada, and recent additions like EQ bank by Toronto-based Equitable Bank that provides all its services over mobile and BMO launched smartphone service for instant accounts useful for SMEs are encouraging customers to enable those services.
List of companies mentioned in the report:
Royal Bank of Canada
TD Canada Trust
Canadian Imperial Bank of Commerce
Bank of Montreal
Scope of the report
The functioning of Canada’s cards and payments market and complete analysis of the market drivers
It provides conventional and contemporary information about payment cards of Canada and market predictions till 2022
It details the emerging payment solutions and their economic, regional and business impact on the cards and payments industry of Canada
Detailed information about existing market leaders, their strategies and government policies driving the payment cards market
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