Canada Payments Market Share

Market Share of Canada Payments Industry

The competition in the Canadian payments market appears to be moderate as few of the major players currently hold significant market share. These major players are offering innovative electronic fund transfer technologies and indulging in mergers and acquisitions to gain more market share. Major players in the Canada payments market include Mastercard Inc., Visa Inc., Interac Corp., and PayPal, among others.

• May 2022 - As part of its ongoing commitment to strengthening Canadian innovation, Mastercard unveiled the "Experience Centre" at its Global Intelligence and Cyber Centre of Excellence ("Centre of Excellence") in Vancouver, BC, where local, national, and international tech communities are invited to collaborate on cyber security innovation. The Experience Centre also features emerging Mastercard products and solutions that are already securing digital payments globally, including those developed locally in Vancouver.
• April 2022 - VoPay, a leader in payment innovation, announced that it has partnered with HES FinTech, a European-based lending software vendor, to continue the fintech company's growing loan management portfolio. The strategic partnership will enable Canadian lenders to access more innovative loan technology and real-time bank account payments using a single solution with rich functionality, helping lenders scale up while outperforming competitors in the growing lending market.

Canada Payments Market Leaders

1. Matercard Inc.

2. Visa Inc.

3. PayPal

4. Apple Pay (Apple Inc.)

5. Interac Corp.

*Disclaimer: Major Players sorted in no particular order