The Report Cube which is one of the leading market research company in UAE expects the Canada Credit Cards Market to grow at a CAGR of around 10.39% through 2032, as highlighted in their latest research report. The study provides an in-depth analysis of the emerging trends shaping the Canada Credit Cards Market and offers detailed forecasts for its potential growth during 2026–2032. The report also presents a comprehensive assessment of the competitive landscape, including profiles of leading players, their performance metrics, and recent strategic developments. Additionally, it explores the key market drivers, challenges, opportunities, and provides insights into historical and future revenue trends at the global, regional, and country levels.

Canada Credit Cards Market Overview:                                        

Market Size (2025): USD 123.43 Billion
Market Size (2032): USD 223.32 Billion
CAGR (2026–2032): 10.39%
Top Companies in Canada Credit Cards Market: Royal Bank of Canada (RBC), TD Bank Group, Scotiabank, CIBC, BMO Financial Group, American Express Canada, Capital One Canada, National Bank of Canada, Desjardins Group, MBNA Canada.

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Canada Credit Cards Market Recent News and Developments:

Royal Bank of Canada (RBC) introduced a revamped RBC Avion Visa Infinite Credit Card with improved travel rewards, AI-powered spending insights, and real-time fraud alerts.

Scotiabank joined hands with Cineplex to reintroduce its Scene+ credit card with high reward points on entertainment & groceries, aiming at younger demographics.

Key Growth Drivers of the Canada Credit Cards Market:

Driver: Rising Customer Inclination towards Contactless & Digital Payments to Drive Market Demand

The transition toward contactless & mobile payments considerably drives the Canada Credit Cards Market. Canadian customers are swiftly embracing digital wallets like Apple Pay, Google Pay, and Samsung Pay, which are effortlessly assimilated with major credit card providers, including Visa & Mastercard. Also, as per Payments Canada, over 60% of transactions in 2024 were contactless. Further, banks are capitalizing on this trend by introducing tap-enabled credit cards & improving mobile banking features, stimulating the Canada Credit Cards Market expansion.

Canada Credit Cards Market Segmentation

The prepaid card market is segmented by application, provider, end-user, and competitors. Food & groceries and travel & tourism dominate the application segment. Visa and MasterCard lead among providers due to strong global networks. Individual users hold the largest end-user share, while corporates use prepaid cards for incentives and expense control. Competition is driven by innovation, digital integration, and reward-based offerings.

• Market Share, By Application
  • Food & Groceries
  • Health & Pharmacy
  • Restaurants & Bars
  • Consumer Electronics
  • Media & Entertainment
  • Travel & Tourism
  • Other
• Market Share, By Provider
  • Visa
  • MasterCard
  • Other

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• Market Share, By End-user
  • Individual
  • Corporate
• Market Share, By Competitors
  • Competition Characteristics
  • Revenue Shares

Note:
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About The Report Cube

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