Canadaâs Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
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PR-Inside.com: 2014-03-17 14:49:03
The Canadian card payments channel recorded growth during the review period (2008â2012). In terms of the volume of cards in circulation, the card payments channel posted a review-period CAGR of 4.55% to reach 153.1 million cards in 2012. Growth in consumer spending, a shift in consumer preference towards cashless transactions, and the increased acceptance of cards by retailers contributed to the growth of the Canadian card payments channel.
The volume of cards in circulation is expected to post a forecast-period (2013â2017) CAGR of 4.66%, to reach 190.8 million cards in 2017. The Canadian card payments channel grew substantially both in volume and value terms during the review period. In terms of the number of transactions, the channel grew from 7.2 billion in 2008 to 8.5 billion in 2012, at a review-period CAGR of 4.27%.
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