The value of payments made with credit cards in Canada grew by nearly three percent between 2018 and 2019. This meant a slowdown of growth when compared to the previous year. Credit cards ranked as the country's most popular payment method for e-commerce, but its market share did decline since 2019.
Value of credit card transactions for payments in Canada from 2012 to 2022
(in million Canadian dollars, and estimates in U.S. dollars)
2022 figures and beyond - release date November 2023 and later - made significant strides in reporting quality - causing a sometimes significant break in methodology in individual countries. Statista sometimes still had to calculate figures, however, as card figures were split between non-remote and remote use cases.
2021 figures and before - with a release date of July 2022, or earlier - are all Statista estimates. Statista used the following indicators - which did not return after the figures covering 2022:
1. Credit cards
Number of cards with a delayed debit function;
Number of cards with a credit / delayed debit function;
Number of cards with a credit function.
2. Debit cards
Number of cards with a debit function;
Number of cards with a debit / delayed debit function.
The following additional sources have been used to provide further context to these figures:
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Statista. (February 25, 2024). Value of credit card transactions for payments in Canada from 2012 to 2022 (in million Canadian dollars, and estimates in U.S. dollars) [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1388655/annual-value-of-credit-card-payments-canada/
Statista. "Value of credit card transactions for payments in Canada from 2012 to 2022 (in million Canadian dollars, and estimates in U.S. dollars)." Chart. February 25, 2024. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1388655/annual-value-of-credit-card-payments-canada/
Statista. (2024). Value of credit card transactions for payments in Canada from 2012 to 2022 (in million Canadian dollars, and estimates in U.S. dollars). Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1388655/annual-value-of-credit-card-payments-canada/
Statista. "Value of Credit Card Transactions for Payments in Canada from 2012 to 2022 (in Million Canadian Dollars, and Estimates in U.S. Dollars)." Statista, Statista Inc., 25 Feb 2024, https://www.statista.com/statistics/1388655/annual-value-of-credit-card-payments-canada/
Statista, Value of credit card transactions for payments in Canada from 2012 to 2022 (in million Canadian dollars, and estimates in U.S. dollars) Statista, https://www.statista.com/statistics/1388655/annual-value-of-credit-card-payments-canada/ (last visited December 21, 2024)
Value of credit card transactions for payments in Canada from 2012 to 2022 (in million Canadian dollars, and estimates in U.S. dollars) [Graph], Statista, February 25, 2024. [Online]. Available: https://www.statista.com/statistics/1388655/annual-value-of-credit-card-payments-canada/