Statistical Profile

What's Next In Payments®
5:20 PM EST October 18th, 2010

The population of Canada is 33.5 million people. 

Consumer Payments by type (2005)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share of Sales

 

 Cash Payments

 

29%

 

 Debit Payments

 

28%

 

 Credit Payments

 

33%

 

 Other Payment Types 

 

10%

 

 Total Consumer Payment Transactions 

 

100%

Source: Bank of Canada, 2005 Survey

 

Canadians are the world’s most avid users of debit cards and Automated Banking Machines (ABMs). Debit cards have surpassed cash as the preferred method of payment for purchases between $25.00 and $100.00. [1]

Comparison of Banking: United States vs. Canada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Key Area

 

United States

 

Canada

 

Number of Banks

 

Over 8,500

 

Approx. 70

 

Nationwide Branching

 

Effectively Limited to Regions

 

Full Nationwide

 

Check Usage

 

Very High

 

Medium

 

Check Clearing Times

 

1-3 Days

 

Same Day

Source: “Commercial Banking in the U.S. versus Canada”, Graziadio Business Report, 2007 Volume 10 Issue 4

 

Financial Cards Transactions (2009)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

Purchase Volume (bn)

 

Share

 

Transactions (million)

 

Share

 

 Visa (Credit Only)

 

$164.11

 

40.0%

 

1583

 

23.8%

 

 Interac (Debit)

 

$142.37

 

34.7%

 

3882

 

58.5%

 

 MasterCard (Credit Only)

 

$82.06

 

20.0%

 

1012

 

15.2%

 

 Amex (Charge)

 

$21.74

 

5.3%

 

163

 

2.5%

 

 Total Cards Transactions 

 

$410.28

 

100%

 

6640

 

100%

Source: Nilson Report, March 2010, Issue 944; Mercator, July 2010

Credit Cards

 

Purchase volume:

US$267.91 billion (65% of all card-based transactions) [4]

Number of transactions:

2758 million (42% of all card-based transactions) [5]

Source: Nilson Reports and Mercator Estimates

 

Number of card accounts:

Approximately 70 million credit card accounts, Visa and MasterCard (2009) [6]

Approximately 15.5 million American Express

Approximately 7.3 million “other” (store-branded, etc)

Total of 90.9 million credit cards [7]

  • 39.6% Active
  •  

  • 70% Pay in full each month
  •  

  • 29% Turnover rate annually [8]
  •  

Delinquency Rates:

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year Ended

October 31

 

Delinquency Rates %

90 days & Over

 

2005

 

0.8%

 

2006

 

0.8%

 

2007

 

0.9%

 

2008

 

1.0%

Source: CBA – Visa and MasterCard Issuers

 

ABM & ACH

 

ABM Machines

47,000 across Canada (2005) [9]

Paper vs Electronic Items through ACSS (ACH Transactions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

YEAR

 

Volume Paper

 

Volume Electronic

 

Value Paper

 

Value Electronic

 

2006

 

21.04%

 

78.96%

 

66.62%

 

33.38%

 

2007

 

19.60%

 

80.40%

 

64.61%

 

35.39%

 

2008

 

17.92%

 

82.08%

 

61.35%

 

38.65%

 

2009

 

16.44%

 

83.56%

 

57.55%

 

42.45%

 

2010

(Jan-Jun)

 

15.96%

467,425,116 transactions

 

84.04%

2,461,187,859 transactions

 

55.58%

$1,394,602,821

 

44.42%

%1,114,379,167

Source: CBA

 

Cash

 

Percent of Sales

29% of Sales[10]


[1] “Electronic Cash Payments: Canada Loves its Debit Cards, but Will the Cashless Revolution Happen in the U.S.?”, informIT, July 22, 2005

[2] “The Canadian Credit Card Market: Tough Sledding”, Mercator Research, July 2010

[3] “The Canadian Credit Card Market: Tough Sledding”, Mercator Research, July 2010

[4] “The Canadian Credit Card Market: Tough Sledding”, Mercator Research, July 2010

[5] “The Canadian Credit Card Market: Tough Sledding”, Mercator Research, July 2010

[6] “The Canadian Credit Card Market: Tough Sledding”, Mercator Research, July 2010

[7] “Canadian Credit Card Market Facts & Figures”, RateSupermarket.ca Blog, September 2010

[8] “Canadian Credit Card Market”, idea associates, March 2008

[9] “Electronic Cash Payments: Canada Loves its Debit Cards, but Will the Cashless Revolution Happen in the U.S.?”, informIT, July 22, 2005

[10] Bank of Canada, 2005 Survey

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