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Canada Cards and Payments Market Report- by Key Segments, Growth Size, Emerging Trends | Samsung Pay, Afterpay, RBC Wallet

ReportsnReports added Canada Cards and Payments Market Research Report created by Report Consultant, which offers detailed insights, revenue details, and other information regarding the global market, and the various trends, drivers, restraints, opportunities, and market till 2028. Canada Cards and Payments Market Report offers detailed information regarding the leading key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions and mergers, and market footprint. Canada Cards and Payments Market also provides a comparative analysis of the market dynamics pre and post Covid19 outbreak.

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Top Company Profile Analysis in this Report –

Payments Canada

Desjardins

RBC Royal Bank

TD Canada Trust

Scotiabank

CIBC

Interac

Visa

Mastercard

American Express

PayPal

Google Pay

PayTM Canada

Apple Pay

Samsung Pay

Afterpay

RBC Wallet

Canada Cards and Payments Market 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, mobile wallets, and cheques during the review-period (2016-20e).

Canada Cards and Payments Market 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 (2020e-24f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.
Canada Cards and Payments Market Report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the 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, mobile wallets, and cheques. It also includes an overview of the country’s 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 of this Report-
– The outbreak of COVID-19 has resulted in a significant shift in preference for consumers towards the use of contactless payment methods. According to the results of a survey conducted by Payments Canada in November 2020, approximately 47% of Canadians surveyed report using their contactless debit and credit cards more often than pre-COVID, and 50% of Canadians tried not to exceed the contactless limit when buying something in-store. To capitalize on the growing adoption of contactless payments, in February 2021, Ottawa-based public transit agency OC Transpo introduced the acceptance of contactless Mastercard and Visa credit cards as well as mobile payment apps and smartwatches that use Apple Pay or Google Pay loaded with Visa or Mastercard to make payments for train fares.
– Buy-now-pay-later (BNPL) services are widely used in the country’s payments market, with several payment providers now offering this service. In January 2021, US-based BNPL service provider Affirm expanded into the Canadian payment market by acquiring PayBright, a Canadian BNPL provider. Affirm offers BNPL services on online transactions and charges zero late fees, prepayment fees, or annual fees but the payments may include a small interest component depending on the transaction value of the purchase. Customers can choose a repayment duration that ranges from three to 12 months. Earlier in August 2020, Afterpay, an Australian BNPL service provider, expanded its services to Canada. The provider enables its users to make interest-free credit payments in four instalments for both in-store and online transactions.
– To cater to the rapidly changing preferences of consumers as a result of the increasing adoption of technological advancements, in 2016, Payments Canada launched the Modernization Program, a multi-year initiative to develop a payments system that is fast, flexible, secure, and strengthens Canada’s competitive position. As part of this initiative, Payments Canada is currently developing multiple payment systems, the first being Lynx, which is a high-value payments system replacing the existing large-value transfer system. The improved system will enable banks and credit unions to make large value transfers in a faster and more secure manner and is scheduled to launch in September 2021. The second innovation includes the development of a real-time payment system for retail customers known as Real-Time Rail, which is expected to go live in 2022.

Reasons to Buy this Report-
– 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.

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Table of Contents
Payment Instruments
Card-Based Payments
Merchant Acquiring
E-Commerce Payments
Buy Now Pay Later
Mobile Proximity Payments
P2P Payments
Bill Payments
Alternative Payments
Job Analysis
Payment Innovations
Payment Infrastructure & Regulation
Appendix

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