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The Canadian payments landscape has experienced unprecedented turbulence over the last three years as a result of the pandemic, the war in Ukraine, supply chain challenges, high inflation, rapidly rising interest rates, and now prospects for a recession. These developments are likely to have a substantial impact on the payments industry in Canada.  

Canadian Payments Forecast, 2023 provides detailed insights into how the 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 the fintechs will be instrumental in shaping this future. 

Drawing on survey research from more than 2,000 Canadian consumers, Canadian Payments Forecast, 2023 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, 2023 provides 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:

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 14th 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.

About the report:
Publication date: July 2023
Number of pages: 140 - wide format
Charts and tables: 110

Methodology:
Desk research
Executive interviews
Excerpts from our primary market research among 2,000 consumers
Analysis and insight, based on 30+ years of advising clients in the international payments market

Contents of the Report:

• Executive Summary
• Introduction and Methodology
• The Canadian Economy
• Prospects for Consumer Payments in Canada
• Cash
• Cheques
• Debit cards
• Credit cards
• Contactless payments
• Mobile payments
• Online payments
• Wearable payments
• Bill payments and transfers
  
• Prepaid cards
  
• Gift cards
• P2P payments
• International Remittances
• Virtual Currencies
• Consumer Payments in Perspective
  

Download a detailed CPF 2022 table of contents, study methodology and report sample.