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Australia Cards And Payments Market Research Report - Segmentation By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS And ATM's), By Payment Instruments (Credit Transfers, Direct Debit, Cheques And Payment Cards) - Transaction Value, Volumes, Historical Trends, Analysis And Forecasts (2022 to 2027)

Published: January, 2022
ID: 6692
Pages: 85

Australia Cards And Payments Market Research (2022 - 2027)

Market Data Forecast’s "Australia Cards And Payments Market" report offers a distinct range of possibilities in the market of payment cards along with the accurately validated statistics of operational cards in the market and their total transactional values. It suggests profitable marketing strategies considering the competitive landscape in the market, purchase trends, payment options in online trade and significant government frameworks impacting the overall payment card market of Australia.

Our report kindles the hidden opportunities with dependable information about different types of cash transactions, volumes of cardholders, market proportion, current accounts, increase within the number of cards, credit cards outstanding balances, transactional values, details of the issuers at the side of available banking schemes and futuristic analysis of overall cards and payment marketplace in Australia.

Key Statistics Offered:

  • Existing and future values of debit cards, charge and credit cards, and others in every market of the payment cards industry of Australia.
  • Information on the alternative payment options of the country, including the highlights of existing instruments like credit transfers, cheques, direct debit, and cash payments.
  • Future prospects of the online sales market in the country, along with the focus on different growth drivers and government regulations in the cards and payment industry of the country.
  • Various marketing strategies of banking and financial institutions for promoting their payment cards.

Australia Cards And Payments Market – Recent Developments:

In February 2018, the Reserve Bank of Australia (RBA) and its Payments System Board introduced the New Payments Platform (NPP), facilitating the customers with multiple bank accounts to transfer funds and make payments in real-time, promoting the digital payments for transactions of even less value. This platform offers services round the clock for all the days of the year. Backed by SWIFT, this platform combines 13 members of Australia’s financial services industry and offers PayID, a service that enables customers to transfer funds by simply proving the mobile number or email of the recipient.

The banking industry of Australia is expected to witness tremendous growth in the future with the advent of digital-only banks. For example, in May 2018, Australian Prudential Regulation Authority (APRA) has granted a Restricted ADI (RADI) license to Volt Bank, allowing it to provide constrained products and services to customers before receiving a full banking license. Xinja, a Fintech startup in Australia is also planning for a full banking license to extend its wings into complete banking. '86 400', 'Up', and other challenger banks are also going to initiate their services soon.

However, the introduction of various regulatory policies is expected to limit the growth of the credit card market of Australia in the coming years. A new bill aimed at barring the unethical practices of the credit card provides was passed by the Australian parliament in February 2018. According to this new bill, financial service providers should assess the ability of the customer to repay credit card loans in time, starting from June 2018. In addition, starting from January 2019, there will be a prohibition on the banks' invitations to increase the limit of the credit cards and any reduced calculation of interests. The banks must provide an online option to cancel the cards or reduce the credit limit. The Australian Competition and Consumer Commission (ACCC) has already prohibited the unfair collection of surcharges on the card payments from all business that includes small and large merchants. This new bill must be followed by all the businesses based in Australia or using an Australian bank.

Australia Cards And Payments Market - Key Insights:

The intense competition in the alternative payments market of Australia with options like BPAY, POLi, Paymate and PayPal, and several mobile payment solutions like Google's Android Pay, Samsung's Samsung Pay in partnership with American Express and Citibank, National Australia Bank's (NAB) NAB Pay and ANZ's ANZ Mobile Pay.

The trials for own bank-branded mobile payment apps on Apple smartphones by Commonwealth Bank of Australia (CBA), Westpac, NAB, and Bendigo and Adelaide Bank, and the declined approval from the Australian Competition and Consumer Commission (ACCC).

The growing preference for contactless payments forced many banking and payment providers to launch contactless solutions. Few such initiatives are contactless bands and stickers in the mobile payments of Optus called Cash by Optus, NFC technology-based Tap & pay service by CBA for Android smartphone users and the collaboration of Electronic Fund Transfer Point of Sale (EFTPOS) with contactless payments movement.

Some of the dominating players in the report:

Commonwealth Bank, Westpac, ANZ, National Australia Bank, Bendigo and Adelaide Bank, Citibank, Coles, Woolworths, JetStar, Qantas, EFTPOS are the dominating players in the Australia Cards and Payments Market.

Key Questions Answered by the report

  • What is the market size of the Australian Cards and Payments market?
  • What are the major operators and issuers in Australia?
  • What is the current state of emerging payment technologies?

1. Definitions

2. Research Methodology

2.1 Research Process

2.1.1 Market Sizing

2.1.2 Competitor Analysis

2.1.3 Market Forecasting

2.1.4 Quality Control Process

3. Executive Summary

4. Industry Benchmarking

5. Market Attractiveness

6. Industry Enablers

6.1 Emerging Payment Technologies

6.2 Growing E-commerce Market

6.2.1 E-commerce Mix by Payment Method

6.3 EMV Migration

6.4 Contactless Cards

7. Regulatory Framework

8. Key Industry Events

9. Merchant Acquiring Business Overview

9.1 Business Overview & Key Operators

9.2 Regulatory Framework

9.3 Technological Changes

10. Market Segmentation

10.1 Cards for Students

10.2 Cards for Travelers

10.3 Cards for High-income Customers

10.4 Cards for Frequent Shoppers

11. Market Sizing

11.1 Debit Cards Market Overview

11.1.1 Scheme Providers

11.1.2 Key Issuers

11.2 Pay Later Cards Market Overview

11.2.1 Scheme Providers

11.2.2 Key Issuers

11.3 Payment Terminals Market

11.4 Payment Instruments Market

12. Key Operators in the Market

12.1 Commonwealth Bank

12.1.1 Company Snapshot

12.1.2 SWOT Analysis

12.1.3 Cards Portfolio

12.2 Westpac

12.2.1 Company Snapshot

12.2.2 SWOT Analysis

12.2.3 Cards Portfolio

12.3 ANZ

12.3.1 Company Snapshot

12.3.2 SWOT Analysis

12.3.3 Cards Portfolio

12.4 National Australia Bank

12.4.1 Company Snapshot

12.4.2 SWOT Analysis

12.4.3 Cards Portfolio

12.5 Bendigo and Adelaide Bank

12.5.1 Company Snapshot

12.5.2 SWOT Analysis

12.5.3 Cards Portfolio

12.6 Citibank

12.6.1 Company Snapshot

12.6.2 SWOT Analysis

12.6.3 Cards Portfolio

12.7 Coles

12.7.1 Company Snapshot

12.7.2 SWOT Analysis

12.7.3 Cards Portfolio

12.8 Woolworths

12.8.1 Company Snapshot

12.8.2 SWOT Analysis

12.8.3 Cards Portfolio

12.9 JetStar

12.9.1 Company Snapshot

12.9.2 SWOT Analysis

12.9.3 Cards Portfolio

                12.10 Qantas

                12.11 EFTPOS

                12.12 Visa

                12.13 Mastercard

                12.14 American Express

                12.15 Diners Club

13. Appendix

13.1 Total Cards Market Stats

13.2 Debit Cards Market Stats

13.2.1 Debit Cards Use at Payment Terminals

13.2.2 Debit Cards Market – Scheme Providers Data

13.3 Pay Later Cards Market Stats

13.3.1 Pay Later Cards Use at Payment Terminals

13.3.2 Pay Later Cards Market – Scheme Providers Data

13.4 Payment Terminals Data

13.5 Payment Instruments Data

Australia Cards And Payments Market

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