Canada Internet Merchant Account

An internet merchant account can give your company access to a large customer base and increase sales. We've compiled the top four benefits of this type of account, as well as the six steps to opening one with our partner Moneris.

-You can sell anything online, not just physical goods 

-No additional software required for a storefront 

-Faster payments for your business 

-Up to $6 million in liability coverage

1. Sign up for an account with Moneris by following these steps: 

2. Accept all terms and conditions of service on their website (you'll be asked when signing up) 3. Accept the Business Account Agreement (their agreement) 

4. Be prepared to upload your banking information, financial statements and other details from you business

5. Enroll in a business education program offered by Moneris once you have an account open 

6. Follow the set up guidelines provided by Moneris and make sure your site is completed before your account is activated  

-Open a Canadian bank account to receive payments from purchases made online

-Start an online store and set up a daily marketing campaign 

-Be ready for order deliveries by researching the marketplace and integrating shipping fees into customer purchases 

-A merchant account helps protect your company from liability in case of fraud with the processing of payments online. This can decrease your company's insurance premiums and save you money in the long run.

-You'll be able to accept international payments for your company, which can be beneficial for growing businesses. 

-With a merchant account, you'll be able to grow as an online business and have access to a large customer base. This can help generate higher revenue in the long run and allow you to expand your business into different markets.

-A merchant account will give your company access to a larger market share and increase the number of sales that are made through your store. This will help increase revenue and keep you competitive in the marketplace.

Canada digital commerce market by volume is expected to grow 6.6% 

Canada digital commerce market by value is expected to grow 11.8%

Canada digital commerce market by volume is expected to grow 10.6%

Canada digital commerce market is estimated to be worth $1,843 million by 2018 and will continue to grow at a CAGR of 4.05% over the period 2013-2018

The Canadian online shopping market has gained momentum in recent years, which is evident when comparing 2014's results with the previous year's statistics. This shows that consumers are attending more online shopping sites than ever before, and are looking for a wide variety of products that suit their exact needs.

The growth of the eCommerce market has been driven by several different factors. The increase in internet penetration and the adoption of new hardware and software technologies have played a role, and it is likely that these factors will continue to grow and improve over the coming years.

All three industry sectors are growing within Canada, with e-commerce as one of them. This reflects the growing trend of online shopping throughout North America, and shows that consumers have started to trust online retailers as opposed to traditional bricks-and-mortar stores.

The Canadian online shopping market is expected to continue its upward trend over the next five years, as business owners continue to expand their operations in order for their companies to be more efficient. The online shopping industry has also seen significant growth in recent years, and it is likely to continue at this pace.

North Division shows the highest growth rate, increasing 5.1% year on year

Canadian MasterCard holds the largest share of the market, and Moneris is their preferred payment processor Source: 

Expected CAGR: 2.65% 

Expected 2018 peak value: $2,089 million 

Market Size (MM): 17.6% by 2018 Value (MM): $1,843 million Current share (MM): 55.0% Market Share (MM): 45.4% Current 2014 Revenue ($000): $278 million CAGR 2014-2018 Revenue ($000): 4.05%

Results of in-depth analysis (2012 - 2018)

Moneris Solutions Corp. (Canada) is expected to record the highest growth rate at CAGR of 2.65% 

Moneris Solutions Corp. (Canada) will continue to hold the largest share of this market and its share is expected to reach over 55% by 2018 

Seize opportunities with the fastest growing eCommerce market and open a business account with Moneris today!

Online shopping in Canada is increasing every year, making it an essential part of many companies' sales strategies. It places an emphasis on convenience and the ability to shop at any time of day.

Online sales in Canada were $8.7 billion in 2013, with a forecasted annual growth rate of 14% (CAGR) by 2018. This means that online sales will total $11.4 billion by 2018, which is significantly higher than the 5% growth seen in 2012. The number of active online shoppers will also increase from 22 million at the end of 2012 to 27 million in 2018, with an anticipated CAGR of 7%.

The rising popularity of online shopping has resulted in a higher demand for digital commerce marketplaces and payment processing services within Canada.

The digital commerce market in Canada is relatively new compared to other countries with established industries, but this is changing as certification requirements are being set up and the knowledge base of online retailers continues to grow.

Online sales has grown considerably in Canada, with strong contributions from all three industry sectors. This data shows that online sales are growing rapidly, and it is likely that this will continue into the future.

A report from Forrester shows that e-commerce will account for approximately 10% of total retail sales in 2020, which means that online retail is growing rapidly within Canada and around the world.

The number of online shoppers increased significantly in 2013 to reach 22 million Canadians, which was a CAGR of 7%. This means that the number of active online shoppers grew by 8% in 2013, and this will continue to grow as more people use their computers and smartphones to shop.

The percentage of Canadians who shop online is expected to increase from 55% in December 2012 to 63% in December 2014, which is a CAGR of 4%. This shows that the number of active online shoppers will also rise, which will further contribute to the growth of the digital commerce market.

Based on statistics from Moneris Solutions Corporation (Canada), every $1 spent online generates an average revenue of $2.50 for businesses. This shows that online retailers are highly effective at increasing revenue for businesses, which has resulted in increased business growth within Canada.

Conclusion

Online sales are increasing exponentially, which is creating a larger demand for systems and payment services that can help businesses understand and analyze their sales. The eCommerce market has also seen significant growth, which shows that Canadians have started to trust online retailers over traditional brick-and-mortar stores. The digital commerce market is expected to continue its upward trend over the coming years, and it is likely that this will continue into the future.

The eCommerce market in Canada has been relatively new compared to other countries with established industries, but this is changing as certification requirements are being set up and the knowledge base of online retailers continues to grow.

The Canadian digital commerce market continues its upward trend, with a CAGR of 4.