Bordering the world's largest general purpose card market, the Canadian card industry is increasingly vibrant and diverse. Since their introduction, credit and debit cards have become the preferred methods of payment for many Canadian consumers. Canadians are amongst the most frequent general purpose card users in the world. There were more than 101 million cards in circulation across the country in 2006. Canada's card market continues to grow, with consumers and merchants seeking new payment products that offer more efficient and secure ways to make transactions, encompassing new technologies and service features.
Boston, MA (PRWEB) July 28, 2007 -- The most recent report from Mercator's International Advisory Service provides an update of Canada's general purpose card market. The report presents an overview of the current state of the Canadian payment card market, an analysis of recent market trends and metrics, a discussion of EMV compliance, and a review of contactless payment and new products and reward programs.
Bordering the world's largest general purpose card market, the Canadian card industry is increasingly vibrant and diverse. Since their introduction, credit and debit cards have become the preferred methods of payment for many Canadian consumers. Canadians are amongst the most frequent general purpose card users in the world. There were more than 101 million cards in circulation across the country in 2006. Canada's card market continues to grow, with consumers and merchants seeking new payment products that offer more efficient and secure ways to make transactions, encompassing new technologies and service features.
Report Highlights:
- An overview of the current state of the Canadian general purpose card market
- An analysis of the metrics and recent market trends: industry concentration, purchase volume, card volume, transactions, and average ticket sales
- A discussion of EMV compliance: issuers' commitment and plans, potential benefits of PIN-and-chip cards
- A review of contactless payment in the Canadian market
- A discussion of Canadian consumers' card usage pattern and new products and rewards programs
The report is 24 pages long and contains 13 exhibits.
"Canadian consumers are highly educated and technologically savvy. They love using their debit and credit cards, and are constantly seeking new and innovative ways to meet their various payment needs, faster and more conveniently," notes Elisa Athonvarangkul, Analyst, International Advisory Service. "As a result, the card market in Canada is poised to enjoy continued growth, and will undoubtedly offer an even greater variety of payment products and services to its customers."
Members of Mercator Advisory Group have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits. Please visit us online at www.mercatoradvisorygroup.com.
For more information call Mercator Advisory Group's main line: 781-419-1700 or send email to info(at)mercatoradvisorygroup.com.
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