Canadian Payments Forecast, 2022

Canadian Payments Forecast, 2022

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Two years of the COVID-19 pandemic have seen drastic changes to the performance of the Canadian economy, and dramatic shifts in consumer spending and payment habits. The war in Ukraine is also set to have a significant impact on the global economy, with ripple effects filtering through to Canada and likely to be felt for years to come. What was set to be a promising year as pandemic restrictions were eased now seems fraught with additional economic risks, which could have a substantial impact on the payments industry in Canada.  

Canadian Payments Forecast, 2022 provides detailed insights into how the developments in the Canadian economy brought about by responses to the COVID-19 pandemic and the war in Ukraine have affected, and are likely to affect, consumer payments in Canada. It also examines how these developments are expected to play out in the coming years in the context of new technologies, business models and the fintechs that are instrumental in shaping this future. 

Drawing on survey research from more than 2,000 Canadian consumers, Canadian Payments Forecast, 2022 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, 2022 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:

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 moves out of an environment dominated by the pandemic
  • 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 13th 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: August 2022
Number of pages: 140 - wide format
Charts and tables: 110

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.


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