Canadian Payments Forecast 2024

The Canadian payments landscape has experienced unprecedented turbulence over the last four years as a result of the pandemic, the wars in Ukraine and the Middle East, supply chain challenges, high inflation, high interest rates, and looming prospects for an economic slowdown. These developments have already had a significant impact on consumer spending, which is one of the key factors driving the payments industry in Canada.

Canadian Payments Forecast, 2024 provides detailed insights into how these developments affecting the Canadian economy are likely to play out in terms of consumer spending and payment choices. The report also examines how new technologies, business models and fintechs will be instrumental in shaping this future.

Drawing on survey research from more than 2,000 Canadian consumers, Canadian Payments Forecast, 2024 is a critical strategic resource for payment professionals, providing essential in-depth insights and forecasts across all consumer payment modalities to facilitate effective strategic planning and product development in the wake of the pandemic, and the likely impact of geopolitical conflict.

Canadian Payments Forecast, 2024 provides an in-depth analysis of each of the major consumer payments segments in the Canadian market. Detailed five-year forecasts are presented on consumer payments and related acceptance infrastructure.

Payment types included in the report:

• Cash
• Online payments
• Gift cards
• Cheques
• Mobile payments
• P2P payments
• Debit cards
• Bill payments and transfers
• International remittances
• Credit cards
• Prepaid cards
• Wearable payments
• Contactless payments
• Virtual currencies

Included in this year's comprehensive update of the report:

• In-depth analysis on prospects for the Canadian economy, personal consumption expenditure, and the retail sector as Canada towards a softer economy
• Analysis and forecast for each major consumer payment segment in the wake of developments in the Canadian economy
• An in-depth assessment of the penetration and acceptance of emerging payment technologies and how these will shape the future in payments
• Key Indicator tables for all major payment modes

Recognized by industry leaders as the most comprehensive, authoritative and independent review of the market available in Canada, Canadian Payments Forecast is now in its 15th year of publication. A strategic resource for payment professionals, the report provides essential in-depth planning information for executives and managers responsible for achieving growth in Canada's payment industry.