Canadian Market

We recognize the need to create reliable and secure online payment methods that suit any business wanting to expand across Canada!

Valuable market insights for better penetration!

At Gigadat we believe that it is our role not only to provide reliable and secure payment options but also to prepare businesses for the Canadian market.

We are very proud to be Canadian, and know that one you start doing business here, you’ll realize it is an incredible market in which to participate.

General market insights


Canada is ethnically a diverse country which includes people who speak Mandarin, Cantonese, Punjabi, Spanish, Tagalog and Arabic in addition to French and English.

Based on these statistics, all Canadian banks, trust and insurance companies have customer support in both official languages – English, and French, as well as in Chinese and Spanish due to the growing prevalence of these populations in Canada.

Canadian population: ≈ 38 010 000

Urban population: ≈ 80%

GDP per capita ≈ $CAD 60k

Average household income: ≈ $70,500

Average age: ≈ 40

Official languages: ≈ French & English

French speakers: ≈ 23.2%

English speakers: ≈ 75%

Spanish speakers: ≈ 7 000 000

Chinese speakers: ≈ 1 500 000

Canadians with a chequing account: 96%

Canadians using online banking: 68%

Canadians going to bank branches: 16%

Transactions through mobile apps: 31%

Payments through mobile apps:  31%


Industry leading software solutions

There are nearly 300 financial institutions in Canada including banks, insurance companies and small credit unions.

However, the market is largely dominated by the “big six”:

Royal Bank of Canada (RBC),
Bank of Montreal (BMO),
Trust Dominion Bank (TD Bank),
National Bank of Canada,
The Bank of Nova Scotia (Scotia Bank)
Canadian Imperial Bank of Commerce (CIBC).