Charge Cards in Canada

November 2023
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Growth continues to slow for charge cards in Canada in 2023, with the category’s relevance fading rapidly. One reason is lack of availability, with American Express morphing many of its charge cards into the realm of traditional credit cards. For the average Canadian desiring a charge card, the options are not severely limited.

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Overview:

Understand the latest market trends and future growth opportunities for the Charge Card Transactions industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

If you're in the Charge Card Transactions industry in Canada, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Charge Card Transactions in Canada report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Charge Card Transactions in Canada?
  • What are the major trends key to understanding Charge Card Transactions in Canada?
  • How has COVID-19, recession and macroeconomic volatility impacted the market?
  • How long will the market take to recover? What are the opportunities now?
  • How will political context and shifting cultural values shape future growth?
  • Where is future growth expected to be most dynamic?
Download Table of Contents

Charge Cards in Canada - Category analysis

Charge Cards in Canada - Company Profile

KEY DATA FINDINGS

Charge cards continue to fall out of favour
Financial pressures dampen charge card Appeal
Charge card transactions remain cautious
Small businesses offer opportunities for charge card development
Personal charge cards face a downward trend
Lack of acceptance to seriously hamper growth
Table 1 Charge Cards: Number of Cards in Circulation 2018-2023
Table 2 Charge Cards Transactions 2018-2023
Table 3 Charge Cards in Circulation: % Growth 2018-2023
Table 4 Charge Cards Transactions: % Growth 2018-2023
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2018-2023
Table 6 Commercial Charge Cards Transactions 2018-2023
Table 7 Commercial Charge Cards in Circulation: % Growth 2018-2023
Table 8 Commercial Charge Cards Transactions: % Growth 2018-2023
Table 9 Personal Charge Cards: Number of Cards in Circulation 2018-2023
Table 10 Personal Charge Cards Transactions 2018-2023
Table 11 Personal Charge Cards in Circulation: % Growth 2018-2023
Table 12 Personal Charge Cards Transactions: % Growth 2018-2023
Table 13 Charge Cards: Number of Cards by Issuer 2018-2022
Table 14 Charge Cards: Number of Cards by Operator 2018-2022
Table 15 Charge Cards Payment Transaction Value by Issuer 2018-2022
Table 16 Charge Cards Payment Transaction Value by Operator 2018-2022
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2018-2022
Table 18 Commercial Charge Cards: Number of Cards by Operator 2018-2022
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2018-2022
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2018-2022
Table 21 Personal Charge Cards: Number of Cards by Issuer 2018-2022
Table 22 Personal Charge Cards: Number of Cards by Operator 2018-2022
Table 23 Personal Charge Cards Transaction Value by Issuer 2018-2022
Table 24 Personal Charge Cards Transaction Value by Operator 2018-2022
Table 25 Forecast Charge Cards: Number of Cards in Circulation 2023-2028
Table 26 Forecast Charge Cards Transactions 2023-2028
Table 27 Forecast Charge Cards in Circulation: % Growth 2023-2028
Table 28 Forecast Charge Cards Transactions: % Growth 2023-2028
Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2023-2028
Table 30 Forecast Commercial Charge Cards Transactions 2023-2028
Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2023-2028
Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2023-2028
Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2023-2028
Table 34 Forecast Personal Charge Cards Transactions 2023-2028
Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2023-2028
Table 36 Forecast Personal Charge Cards Transactions: % Growth 2023-2028

Credit Cards in Canada - Category analysis

Credit Cards in Canada - Company Profile

KEY DATA FINDINGS

Newcomers fuel credit card growth in 2023
Credit card dependence remains strong amid financial uncertainties
Delinquency on the rise
New credit card accounts will push further growth in credit cards in Canada
Players set to invest more in rewards programmes, while m-commerce holds potential
Credit card balances may fall
Table 37 Credit Cards: Number of Cards in Circulation 2018-2023
Table 38 Credit Cards Transactions 2018-2023
Table 39 Credit Cards in Circulation: % Growth 2018-2023
Table 40 Credit Cards Transactions: % Growth 2018-2023
Table 41 Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 42 Commercial Credit Cards Transactions 2018-2023
Table 43 Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 44 Commercial Credit Cards Transactions: % Growth 2018-2023
Table 45 Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 46 Personal Credit Cards Transactions 2018-2023
Table 47 Personal Credit Cards in Circulation: % Growth 2018-2023
Table 48 Personal Credit Cards Transactions: % Growth 2018-2023
Table 49 Credit Cards: Number of Cards by Issuer 2018-2022
Table 50 Credit Cards: Number of Cards by Operator 2018-2022
Table 51 Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 52 Credit Cards Payment Transaction Value by Operator 2018-2022
Table 53 Commercial Credit Cards: Number of Cards by Issuer 2018-2022
Table 54 Commercial Credit Cards: Number of Cards by Operator 2018-2022
Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2018-2022
Table 57 Personal Credit Cards: Number of Cards by Issuer 2018-2022
Table 58 Personal Credit Cards: Number of Cards by Operator 2018-2022
Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 60 Personal Credit Cards Payment Transaction Value by Operator 2018-2022
Table 61 Forecast Credit Cards: Number of Cards in Circulation 2023-2028
Table 62 Forecast Credit Cards Transactions 2023-2028
Table 63 Forecast Credit Cards in Circulation: % Growth 2023-2028
Table 64 Forecast Credit Cards Transactions: % Growth 2023-2028
Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2023-2028
Table 66 Forecast Commercial Credit Cards Transactions 2023-2028
Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2023-2028
Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2023-2028
Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2023-2028
Table 70 Forecast Personal Credit Cards Transactions 2023-2028
Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2023-2028
Table 72 Forecast Personal Credit Cards Transactions: % Growth 2023-2028

Debit Cards in Canada - Category analysis

Debit Cards in Canada - Company Profile

KEY DATA FINDINGS

Labour shortages accelerate shift to contactless transactions
Canadians lured by debit card rewards
Credit crunch fuelling debit dominance for new businesses
Digital verification bolsters consumer confidence in online debit transactions
Credit card pressures to continue supporting growth in debit cards as cashless payments continue to rise
Business will see greater tech-riven debit growth
Table 73 Debit Cards: Number of Cards in Circulation 2018-2023
Table 74 Debit Cards Transactions 2018-2023
Table 75 Debit Cards in Circulation: % Growth 2018-2023
Table 76 Debit Cards Transactions: % Growth 2018-2023
Table 77 Debit Cards: Number of Cards by Issuer 2018-2022
Table 78 Debit Cards: Number of Cards by Operator 2018-2022
Table 79 Debit Cards Payment Transaction Value by Issuer 2018-2022
Table 80 Debit Cards Payment Transaction Value by Operator 2018-2022
Table 81 Forecast Debit Cards: Number of Cards in Circulation 2023-2028
Table 82 Forecast Debit Cards Transactions 2023-2028
Table 83 Forecast Debit Cards in Circulation: % Growth 2023-2028
Table 84 Forecast Debit Cards Transactions: % Growth 2023-2028

Pre-Paid Cards in Canada - Category analysis

Pre-Paid Cards in Canada - Company Profile

KEY DATA FINDINGS

Pre-paid cards enjoys rush of innovation in 2023, sustaining strong growth
Open loop cards as firm favourites
Pre-paid cards find greater favour with retailers
Loyalty schemes likely to rise in pre-paid cards
The contactless surge
Security in the spotlight, while fintech will continue to drive innovation and growth
Table 85 Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 86 Pre-paid Cards Transactions 2018-2023
Table 87 Pre-paid Cards in Circulation: % Growth 2018-2023
Table 88 Pre-paid Cards Transactions: % Growth 2018-2023
Table 89 Closed Loop Pre-paid Cards Transactions 2018-2023
Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 91 Open Loop Pre-paid Cards Transactions 2018-2023
Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 93 Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 94 Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 95 Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 96 Pre-paid Cards Transaction Value by Operator 2018-2022
Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 98 Closed Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 99 Open Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 100 Open Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 101 Forecast Pre-paid Cards: Number of Cards in Circulation 2023-2028
Table 102 Forecast Pre-paid Cards Transactions 2023-2028
Table 103 Forecast Pre-paid Cards in Circulation: % Growth 2023-2028
Table 104 Forecast Pre-paid Cards Transactions: % Growth 2023-2028
Table 105 Forecast Closed Loop Pre-paid Cards Transactions 2023-2028
Table 106 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2023-2028
Table 107 Forecast Open Loop Pre-paid Cards Transactions 2023-2028
Table 108 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2023-2028

Store Cards in Canada - Category analysis

Store Cards in Canada - Company Profile

KEY DATA FINDINGS

Store cards sees muted growth, facing threat from BNPL
Digital pivot provides some life to store cards
The low fraud risk of store cards
Store cards as branding beacons
Amplifying limits set by economic realities
Corporate Canada may increase use of store cards
Table 109 Store Cards: Number of Cards in Circulation 2018-2023
Table 110 Store Cards Transactions 2018-2023
Table 111 Store Cards in Circulation: % Growth 2018-2023
Table 112 Store Cards Transactions: % Growth 2018-2023
Table 113 Store Cards: Number of Cards by Issuer 2018-2022
Table 114 Store Cards: Payment Transaction Value by Issuer 2018-2022
Table 115 Forecast Store Cards: Number of Cards in Circulation 2023-2028
Table 116 Forecast Store Cards Transactions 2023-2028
Table 117 Forecast Store Cards in Circulation: % Growth 2023-2028
Table 118 Forecast Store Cards Transactions: % Growth 2023-2028

Financial Cards and Payments in Canada - Industry Overview

Financial cards and payments in 2023: The big picture
2023 key trends
Competitive landscape
What next for financial cards and payments?
Table 119 Number of POS Terminals: Units 2018-2023
Table 120 Number of ATMs: Units 2018-2023
Table 121 Value Lost to Fraud 2018-2023
Table 122 Card Expenditure by Location 2023
Table 123 Financial Cards in Circulation by Type: % Number of Cards 2018-2023
Table 124 Domestic versus Foreign Spend 2023
Table 125 Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 126 Financial Cards by Category: Number of Accounts 2018-2023
Table 127 Financial Cards Transactions by Category: Value 2018-2023
Table 128 Financial Cards by Category: Number of Transactions 2018-2023
Table 129 Consumer Payments by Category: Value 2018-2023
Table 130 Consumer Payments by Category: Number of Transactions 2018-2023
Table 131 M-Commerce by Category: Value 2018-2023
Table 132 M-Commerce by Category: % Value Growth 2018-2023
Table 133 Financial Cards: Number of Cards by Issuer 2018-2022
Table 134 Financial Cards: Number of Cards by Operator 2018-2022
Table 135 Financial Cards: Card Payment Transactions Value by Operator 2018-2022
Table 136 Financial Cards: Card Payment Transactions Value by Issuer 2018-2022
Table 137 Forecast Financial Cards by Category: Number of Cards in Circulation 2023-2028
Table 138 Forecast Financial Cards by Category: Number of Accounts 2023-2028
Table 139 Forecast Financial Cards Transactions by Category: Value 2023-2028
Table 140 Forecast Financial Cards by Category: Number of Transactions 2023-2028
Table 141 Forecast Consumer Payments by Category: Value 2023-2028
Table 142 Forecast Consumer Payments by Category: Number of Transactions 2023-2028
Table 143 Forecast M-Commerce by Category: Value 2023-2028
Table 144 Forecast M-Commerce by Category: % Value Growth 2023-2028

DISCLAIMER

Summary 1 Research Sources
The following categories and subcategories are included:

Charge Card Transactions

  • Commercial Charge Card Transactions
  • Personal Charge Card Transactions

Charge Card Transactions

A charge card (sometimes referred to as a Travel and Entertainment card) shares the “pay later” component with credit cards. However, charge card balances normally have to be paid off monthly and do not attract interest charges. Charge cards typically possess high (or even no) pre-set spending limits and may carry a high annual fee. Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.

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This report originates from Passport, our Charge Card Transactions research and analysis database.

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