Contactless Represents More Than Half Of All Card-Present Transactions in Canada

Christine Persaud

Published: 08/06/2019 07:30:01 AM EST in Industry

Contactless Represents More Than Half Of All Card-Present Transactions in Canada

For the second quarter of 2019, contactless transactions continue to account for the majority of card-present transactions in Canada, according to the MonerisMetrics Quarterly Report released by Moneris Solutions Corporation.

The report found that contactless accounted for 52.5% of all card-present transactions as tap payments trended upwards from the 51.5% recorded in the first quarter. This represents the second consecutive quarter where contactless was king.

Provinces leading the trend are Prince Edward Island (57.5%), Manitoba (56%), Ontario (54.8%), British Columbia (54.6%), Nova Scotia (54.4%), Alberta (53.3%), Saskatchewan (52.3%), and New Brunswick (50%).

"The impressive share of contactless payments again this quarter is a signal that tap-to-pay is here to stay," says Angela Brown, President and CEO of Moneris. "It's clear that as we shifted into the spring and summer months, Canadians continued to move quickly through the checkout process. Contactless is driving real change in consumer behaviour and it's exciting to watch. We're witnessing a shift in the market that's accelerating the adoption of digital wallets and changing the payments landscape."

Across Canada, Saskatchewan (-1.1%), Alberta (-0.3%) and Newfoundland (-0.2%) saw the lowest growth rates in the country for a second quarter in a row. Despite a slow growth rate, Quebec (+5.2%), New Brunswick (+4.2%), Nova Scotia (+2.5%) and Manitoba (+2.4%) outperformed their second quarter growth from 2018. Prince Edward Island and Ontario held steady growth rates at 4.5% and 3.4%, respectively compared to Q2 2018, and British Columbia closed the second quarter with 3.2%.

Overall credit and debit card spending year-over-year saw moderate growth of 2.9%.

Spending in the second quarter by Canadians went towards kicking off the summer at amusement parks (+11.8%), and tourist attractions and exhibits (+5.9%). With more kids winding down from school, video amusement game supplies (+19.5%) and candy, nut and confectionery stores (+16.9%) saw lifts in sales.

Business boomed for computer and data processing professionals in software integration in the second quarter, with a 21.7% growth over 2018. Computer network and information service professionals also saw a spike of 11% year-over-year.

Visitors to Canada continue to come and spend, with cards from the U.S. leading overall foreign spend volume and the United Kingdom moving up to number-two, ahead of China. Growth continued to be positive with the U.S. growing at 6.9%, the U.K. at 16.2%, and China at 7.6% year-over-year.

MonerisMetrics provides information on spending activity in Canada across a range of categories by analyzing credit and debit card transaction data. The percentages cited are derived from actual sales volumes.

Article Tags:  moneris, spending, card present, transactions, contactless, payments, retail, canada, stats, data


Contactless Represents More Than Half Of All Card-Present Transactions in Canada

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