Digital wallets gain ground in Canada, but cards lead

Digital wallets accounted for 32% of Canadian eCommerce transaction value in 2025, according to Global Payments. That put them behind credit cards, which held a 46% share of online spending.

The data points to a shift in how Canadians pay online, even as cards remain dominant. By 2030, Global Payments forecasts that digital wallets will represent 37% of Canadian eCommerce transaction value, while credit cards will fall to 42%.

Canada remains a strongly card-led market, according to the company's annual payments study. In physical retail, credit cards accounted for 51% of point-of-sale transaction value in 2025, while debit cards represented 23% and digital wallets 13%.

Still, there is room for change in stores as well as online. The report forecasts that digital wallets will exceed one-fifth of Canadian in-store spending by 2030, suggesting mobile payment methods are becoming more common in everyday transactions.

Card market

The findings underline how unusual Canada remains compared with markets where wallets and payment apps play a larger role. While Canadians are adopting new ways to pay, credit cards still lead both online and in-store.

Global figures from the same study show wallet-based payments are further ahead elsewhere. Worldwide, digital wallets accounted for 56% of eCommerce transaction value and 33% of point-of-sale transaction value in 2025.

The study forecasts that payment apps, including digital wallets, buy now, pay later services, account-to-account options and other banking apps, will account for 46% of global in-store spending by 2030. It estimates that transaction value will be about USD $15.6 trillion.

Asia-Pacific remains the clearest example of that shift. In the region, digital wallets represented 77% of eCommerce transaction value and 62% of point-of-sale transaction value in 2025.

Alternative methods

Alongside wallets, buy now, pay later services are also gaining ground in Canada's online market. The report found BNPL accounted for 5% of Canadian eCommerce transaction value in 2025 and forecasts it will grow at a compound annual growth rate of 9% through 2030.

The figures suggest Canada's online checkout is becoming more varied, with consumers using different payment methods depending on the purchase and channel. For merchants, that means balancing long-standing reliance on cards with growing demand for wallets and instalment-based options.

The research draws on a survey of more than 63,000 consumers across 42 markets and five continents. It is the 11th edition of the company's Global Payments Report, which tracks current payment behaviour and forecasts trends through 2030.

Phil Hogg, Head of Canada Enterprise Business Development at Global Payments, commented on the changing mix of payment options in the market.

"Consumers increasingly expect greater choice and flexibility in how they pay," Hogg said.

"The findings not only highlight the growing role digital wallets play in everyday commerce, but also underscore the proliferation of payment options. Businesses that adapt to consumers' desire for a range of payment choices will be better positioned to serve their customers and support future growth."