Canada Mobile Payments Market Share

Market Share of Canada Mobile Payments Industry

The Canada mobile payments market is moderately fragmented and consists of several major players. The major players with a prominent share in the market such as Apple Pay, Google Pay, PayPal, CIBC, Samsung Pay, etc., are focusing on expanding their customer base across foreign countries through the adoption of various technologies.

• September 2021 - Samsung Electronics Canada Inc. (Samsung) announced that eligible TD cards, including TD Access Cards and TD Credit Cards, are now supported by Samsung Pay, the widely accepted mobile payment system that works almost anywhere shoppers can swipe or tap their card. This collaboration with TD significantly expands the availability of Samsung Pay to Canadian cardholders.
• April 2022 - Klarna, a digital retail bank, and BNPL firm is extending its global partnership with cross-border eCommerce provider Global-e to expand its installment payment services to Canada. Merchants selling in Canada using Global-e's platform can now use Klarna's installment payment options.

Canada Mobile Payments Market Leaders

1. Apple Pay

2. PayPal

3. Google Pay

4. Samsung Pay

5. Canadian Imperial Bank of Commerce

*Disclaimer: Major Players sorted in no particular order