“Unsurprisingly, the leading e-commerce payment solution providers are a combination of both domestic and international players. While the market is controlled by two major firms (PayPal and Moneris)."
Boston, MA (PRWEB) April 27, 2013
Over the past five decades, the Canadian payments market has evolved into one of the premier international markets for foreign expansion. Not only do Canada’s proximity and cultural similarities to U.S.-based firms assist in transnational expansion, but the market itself is enticing. As a result, Canada has witnessed broad interest from U.S.-based and international payment industry players.
The interested parties are attracted to Canada for a number of reasons, including the stable and well-regulated financial system, robust economic performance record, and a population growing more at ease with new payment technologies. Mercator Advisory Group’s latest report, Payment Acquiring and Merchant Services in Canada: 2013 Update, provides new and updated information on the Canadian payments market with emphasis on the payment acquiring and merchant services space.
“Unsurprisingly, the leading e-commerce payment solution providers are a combination of both domestic and international players. While the market is controlled by two major firms (PayPal and Moneris), each of the remaining payment solution providers maintains a healthy share of the market, suggesting that Canadian e-commerce merchants are not particularly tied to one firm, presenting an opportunity for the firm offering the best deal to gain traction quickly among the growing number of merchants interested in e-commerce,” commented Tristan Hugo-Webb, analyst for the International Advisory Service and the primary author of the report.
- Highlights of the report include:
- Examination of recent trends in the payment card, banking, merchant, and e-commerce segments
- Review of the Canadian merchant landscape in terms of card-accepting segments, establishments, and annual revenue
- Review of the leading payment card brands, merchant acquirers, ISOs, and smaller players in Canada and their respective market positions
- Overview of new Canadian Code of Conduct for payment card industry
This report contains 25 pages and 11 exhibits.
Companies mentioned in this report include: American Express, Bank of Montreal, Beanstream, Caledon Card Services, Canadian Imperial Bank of Commerce (CIBC), Canadian Payments Association, CardWorks, Chase Paymentech, Citibank, Collective POS, Desjardins, Discover, Elavon, Emergis, First Data, Global Payments, Google Checkout, HSBC, Interac, MasterCard, Merrick Bank, Moneris, Monex, National Bank of Canada (NBC), NXGEN, Optimal Payments, Payfirma, PayPal, Payment Processing Inc. (PayPros), Peoples Trust, Pivotal Payments, PSiGate, Rogers, Royal Bank of Canada, Scotiabank, Snappay, Square, Stripe, Telus, Toronto Dominion Bank, VersaPay, Visa, and WorldPay.
Members of Mercator Advisory Group’s International Advisory Service have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
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About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.