Statistical Profile

By  |  October 18, 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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