Annual key figures on credit card payments in Canada, with forecasts up to 2027

Published by Statista Research Department, Mar 5, 2024

The average value of a credit card transaction in Canada is predicted to decline even further between 2022 and 2027, decreasing by over six USD. This is according to one of several forecasts made by Statista covering the credit card market in Canada. The North American country is one of the most mature countries in the world when it comes to credit card penetration. This is especially reflected in the value of credit card payments making up over 25 percent of the Canada's GDP. This is partially because credit card ownership is high among young consumers in the country. Credit cards also rank as the country's most popular payment method.

Credit card payments trends overview for Canada from 2017 to 2022, with forecasts from 2023 to 2027

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Release date

February 2024

Region

Canada

Survey time period

February 2024

Supplementary notes

All figures have been gathered and calculated by Statista, based on information from various sources. These include:

Historical figures were then used in a linear trend, to form a simple trend projection. This extrapolation uses the method of least squares.

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Other statistics that may interest you Credit cards and debit cards in the United Kingdom (UK)

Penetration

5

User behavior

5

Spending

7

Transaction count

5

Credit card debt

5

Brands and issuers

5

Forecasts

5

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Topics

Credit cards in the United StatesPersonal debt in the U.S.Digital payments landscape in the United StatesOnline shopping behavior in the United StatesBNPL (Buy Now, Pay Later)
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