Credit cards increasingly lost market share as Canada's most popular online payment method, as digital wallets gained four percentage points in 2022. Nevertheless, credit cards was still the most used digital payment in the country that year. The source adds that Canadians' preference for credit also showed itself in buy now, pay later. BNPL gained roughly six percent market share within the country's overall e-commerce spending between 2020 and 2022.
Market share of cash, credit cards, and other payment methods during online shopping in Canada from 2016 to 2023, with a forecast for 2027
The source made multiple changes to its categories over time, see the "Details" tab for more information.
Supplementary notes
* In 2022, the source stated it merged the categories of "credit cards" together with "charge/deferred debit cards".
** The source created a new category in 2023 called A2A or account-to-account. It refers to these as electronic payments made between parties that circumvent card networks and that are embedded within apps and online services. The source lists Pix in Brazil, iDEAL in the Netherlands, and BLIK in Poland as its main examples. A2A includes - and does not solely consist of - the former categories of "bank transfers" and "direct debits".
The figures have been taken from several publications.
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Worldpay. (March 21, 2024). Market share of cash, credit cards, and other payment methods during online shopping in Canada from 2016 to 2023, with a forecast for 2027 [Graph]. In Statista. Retrieved October 30, 2024, from https://www.statista.com/statistics/1230961/e-commerce-payment-methods-in-canada/
Worldpay. "Market share of cash, credit cards, and other payment methods during online shopping in Canada from 2016 to 2023, with a forecast for 2027." Chart. March 21, 2024. Statista. Accessed October 30, 2024. https://www.statista.com/statistics/1230961/e-commerce-payment-methods-in-canada/
Worldpay. (2024). Market share of cash, credit cards, and other payment methods during online shopping in Canada from 2016 to 2023, with a forecast for 2027. Statista. Statista Inc.. Accessed: October 30, 2024. https://www.statista.com/statistics/1230961/e-commerce-payment-methods-in-canada/
Worldpay. "Market Share of Cash, Credit Cards, and Other Payment Methods during Online Shopping in Canada from 2016 to 2023, with a Forecast for 2027." Statista, Statista Inc., 21 Mar 2024, https://www.statista.com/statistics/1230961/e-commerce-payment-methods-in-canada/
Worldpay, Market share of cash, credit cards, and other payment methods during online shopping in Canada from 2016 to 2023, with a forecast for 2027 Statista, https://www.statista.com/statistics/1230961/e-commerce-payment-methods-in-canada/ (last visited October 30, 2024)
Market share of cash, credit cards, and other payment methods during online shopping in Canada from 2016 to 2023, with a forecast for 2027 [Graph], Worldpay, March 21, 2024. [Online]. Available: https://www.statista.com/statistics/1230961/e-commerce-payment-methods-in-canada/
