Australia Cards and Payments: Opportunities and Risks to 2029

Australia Cards and Payments: Opportunities and Risks to 2029

Summary

GlobalData’s ‘Australia Cards and Payments: Opportunities and Risks to 2029' report provides detailed analysis of market trends in the Australia cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, cash, credit transfer, direct debits, and cheques during the review-period (2021-25e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2025e-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘Australia Cards and Payments: Opportunities and Risks to 2029' report provides top-level market analysis, information and insights into Australia cards and payments industry, including:

• Current and forecast values for each market in Australia cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including cards, cash, credit transfer, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing Australia cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Australia cards and payments industry.

• Australia’s contactless card market is highly developed, with strong penetration and awareness of contactless cards. Overall, the contactless card payment transaction volume and value recorded robust CAGRs of 6.4% and 7.2%, respectively, over the review period. This can be attributed to the widespread adoption of contactless payments in transportation further aiding adoption. In February 2025, Public Transport Victoria (PTV) announced plans to launch contactless payments on tap to go payments on the public transport of the State of Victoria. This will enable commuters of buses and trains to use contactless cards and smartphones with contactless payment functionality (such as Apple Pay and Google Pay) to pay for their journeys.
• Payment card fraud incidents are on the rise in Australia. As per GlobalData’s Payment Cards Analytics, total card fraud value increased from AUD495.5 million ($327.2 million) in 2021 to AUD1.2 billion ($790.7 million) in 2025e at a CAGR of 24.7%. This is expected to reach AUD2.3 billion ($1.5 billion) by 2029f. The increase is partly because fraudsters are adopting new methods to exploit payment systems. In response, in November 2024, major banks in Australia, including Commonwealth Bank, Westpac, National Australia Bank (NAB), and Australia and New Zealand Banking Group (ANZ), piloted a network to share fraud-related data dubbed as BioCatch Trust. This system enables banks to share real-time data on scams and suspicious activities; helping prevent financial fraud.
• Merchants are being provided with new POS solutions by issuers. In March 2025, Fiserv launched its Clover POS platform in Australia, targeting the country's small- to medium-sized enterprises (SMEs). Clover offers an all-in-one system that allows merchants to accept payments, including contactless cards and mobile wallets, as well as providing inventory tracking. This portable device includes all the features of a full POS system and is designed for the hospitality, service, and retail sectors. On similar note, Tyro, an Australian payments provider, strengthened its position in the merchant acquiring sector with its newly-developed embedded payments solution. Introduced in December 2024, this technology enables merchants to process contactless payments by converting standard Android and iOS devices into secure payment terminals; eliminating the need for dedicated POS hardware.

• Card market size in terms of number of cards, value and volume of transactions in the Australia along with detailed card segmentation of debit, credit and charge cards available in the country.
• Market sizing and analysis of major payment instruments including cards, cash, credit transfer, direct debits, and cheques.
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

• Make strategic business decisions, using top-level historic and forecast market data, related to the Australia cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Australia cards and payments industry.
• Assess the competitive dynamics in Australia cards and payments industry.
• Gain insights into marketing strategies used for various card types in Australia.
• Gain insights into key regulations governing the Australia cards and payments industry.