Mandate, methods & editorial standards
Clearly Payments Research
Independent payments-industry research, market intelligence, original estimates and forecasts from Clearly Payments.
Clearly Payments Research is the independent research and market-intelligence function of Clearly Payments. The team researches, verifies, calculates and forecasts payments-industry data using authoritative public sources, industry information and proprietary internal models.
01 / Research mandate
What Clearly Payments Research does
We study how payments markets operate and how their economics change. Our work covers payment processing, interchange, card networks and merchant acquiring, alongside the infrastructure that supports settlement and reconciliation.
Research also examines payment technology, fraud and risk, merchant economics, transaction volumes, adoption and business payment behaviour. Regulation and market structure provide context for these findings.
Direct payments-industry knowledge informs the research. Commercial product decisions, pricing and sales objectives do not determine its conclusions.
02 / Research process
How research is produced
From original evidence to a reviewed research conclusion. Calculations, estimates and forecasts are used where the question and available data call for them.
01 →
Source
Identify primary datasets and high-quality secondary analysis.
02 →
Verify
Cross-check material figures and reconcile conflicting evidence.
03 →
Calculate
Derive metrics from published data using consistent definitions.
04 →
Estimate
Model values that are not directly reported.
05 →
Forecast
Develop scenarios from current evidence and market structure.
06
Review
Check arithmetic, assumptions, consistency and source quality.
03 / Research classification
What a number represents
The distinction between reported evidence and our own analysis should remain visible wherever a figure is used.
Observed
Sourced statistics
Figures reported directly by government agencies, central banks, regulators, card networks, company filings or industry associations. Publications attribute these statistics to the originating source.
Source: [originating source].
Calculated
Clearly Payments Research calculations
Metrics derived from published data, such as growth rates, normalised averages, implied transaction values, per-merchant benchmarks, cost comparisons and ratios. These are calculations rather than newly observed data.
Clearly Payments Research calculation
Modelled
Clearly Payments Research estimates
Values produced from public data, industry information and internal research models when no authoritative published figure is available. Examples include market size, adoption, merchant counts, economic costs, labour burden, savings potential and forecasts. Estimates are identified as estimates, not directly observed facts.
Clearly Payments Research estimate
04 / Estimation & modelling
How we approach estimates
Models may combine public economic data, transaction data, business counts, network statistics, regulatory publications and company disclosures. Industry and operational benchmarks, together with internal payments-market knowledge, help test whether a result is plausible.
When evidence supports only an approximate value, we use ranges, rounded estimates or scenarios. A precise-looking number is not a substitute for reliable evidence.
A model is useful only if its assumptions are reasonable and its uncertainty is understood. Clearly Payments Research does not publish precision that the underlying data cannot support.
05 / Methodological disclosure
Methodology and proprietary models
Publications generally disclose the scope, geography, period, primary source inputs, major assumptions and limitations needed to interpret the findings.
Clearly Payments Research publishes enough methodological context to distinguish observed data from calculated or estimated values. Detailed modelling techniques may remain proprietary where they represent internal research methods.
These techniques may include weighting systems, adjustment factors, normalisation logic, internal formulas, source reconciliation and scenario models. Detailed forecasting assumptions may also remain internal; major assumptions and limitations should still be explained.
06 / Evidence standards
Source standards
We prioritise original and authoritative evidence. Government agencies, central banks and regulators come first, followed by card networks, public company filings and official industry associations. Original datasets, reputable research organisations and high-quality secondary analysis provide further evidence and context.
Material statistics should be traced to the original source wherever practical. A figure repeated across several websites is not independently verified if those websites all rely on one another.
07 / Verification
Verification and review
Material figures are checked for source quality, publication date, geography, scope, units and consistency of definitions. Internal arithmetic and comparisons with other credible datasets help test reasonableness.
When sources conflict, we examine why. A publication may explain the discrepancy, use a range, normalise the data, select the source with the stronger methodology or produce a Clearly Payments Research estimate.
Research verification, source reconciliation and methodological checks form part of internal review before publication. This process is not presented as external academic peer review.
08 / Forward-looking research
Forecasts and scenarios
Forecasts may draw on historical growth, adoption trends, industry structure, business formation and payment volume growth. Regulatory developments, technology adoption and macroeconomic assumptions can change the expected path.
Where uncertainty is meaningful, analysis may set out a conservative case, a Clearly base case and a high-growth case. Each scenario depends on its stated assumptions.
Forecasts are estimates, not guarantees. They describe plausible outcomes under specified conditions, rather than promises about future activity.
09 / Editorial independence
Research independence
Clearly Payments Research operates independently from Clearly Payments’ payment-processing and sales operations.
Research conclusions, estimates and forecasts are developed by the research function and are not adjusted to support Clearly Payments’ commercial products, pricing or sales objectives.
Provider comparisons follow research criteria. Market estimates are not adjusted to improve commercial positioning, and adverse industry findings may be published when supported by evidence. Research is intended to inform readers rather than serve as disguised sales collateral.
Clearly Payments Research remains part of Clearly Payments. Its operational independence does not make it a separate legal organisation.
10 / Maintaining the record
Corrections and updates
Research is periodically reviewed. Outdated source data may be updated, and material errors should be corrected when identified. Forecasts may be revised when their underlying assumptions change materially.
Article updated dates should reflect substantive research changes. A routine formatting change is not a new research finding.
11 / Attribution
Citing Clearly Payments Research
Cite the publication title, year and URL so readers can locate the work. Retain the distinction between sourced statistics, calculations and estimates.
Publication
Clearly Payments Research, “Article Title,” Clearly Payments, Year.
Estimate
Source: Clearly Payments Research estimate, 2026.
Chart or derived analysis
Source: Clearly Payments Research analysis of [primary sources].
For externally sourced statistics, cite the originating source identified in the publication. The examples above are citation formats, not claims that every published number is an original Clearly Payments Research estimate.
12 / Publications
Research and analysis
Selected publications on payments markets, economics and infrastructure. The research archive contains the full collection.
Payments Market & Trends
Canadian Credit Card Statistics 2025: Usage, Spending, Debt & Payment Trends →
Payment Processing Fees
The Hidden Economics Behind Interchange Fees →
Payment Systems & Infrastructure
Payment Systems Architecture: Flows, Infrastructure, and Business Models →
About Clearly Payments
Part of Clearly Payments
Clearly Payments Research is part of Clearly Payments. Clearly Payments provides payment-processing technology and services to businesses in Canada and the United States. The research function operates separately from processing and sales operations.