Market Share of Canada Real Time Payments Industry
The Canadian real-time payments market is moderately concentrated. The competitive rivalry in the market is moderate. Due to several companies operating in the market, firms must keep innovating their products to gain a sustainable competitive edge over their rivals and provide product differentiation.
- In September 2021, Mastercard Canada extended its capabilities deep into the digital assets field with an agreement to acquire CipherTrace, a leading cryptocurrency intelligence company with insight into more than 900 cryptocurrencies. The integrated offering will build on CipherTrace's suite of digital assets and Mastercard's cyber security solutions to provide businesses with greater transparency to help identify and understand their risks and manage their digital asset regulatory and compliance obligations.
- August 2020: Mogo in Canada announced plans to launch a mobile peer-to-peer (P2P) payment solution that will enable users to quickly and easily make and share payments with friends and family through Mogo's mobile app. Mogo's peer-to-peer payment solution will be accessible through the Mogo mobile app. Users can quickly link their bank account or debit card and send and receive money instantly through the app.
Canada Real-Time Payments Market Leaders
Google LLC (Google Pay)
Apple Inc. (Apple Pay)
Samsung Electronics Limited (Samsung Pay)
Mastercard Inc.
VISA Inc.
*Disclaimer: Major Players sorted in no particular order
