Market Research Logo

The Cards and Payments Industry in Australia: Emerging Trends and Opportunities to 2020

The Cards and Payments Industry in Australia: Emerging Trends and Opportunities to 2020

Synopsis

Timetric’s 'The Cards and Payments Industry in Australia: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Australian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including direct debits, check payments, payment cards, cash transactions and credit transfers during the review period (2011–2015).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016–2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetric’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

Summary

Timetric’s 'The Cards and Payments Industry in Australia: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Australian cards and payments industry, including:

  • Current and forecast values for each market in the Australian cards and payments industry, including debit card, credit and charge cards.
  • Detailed insights into payment instruments including direct debit, credit transfers, cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce market analysis.
  • Analysis of various market drivers and regulations governing the Australian 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 in the Australian cards and payments industry.
Scope
  • This report provides a comprehensive analysis of the Australian cards and payments industry.
  • It provides current values for the Australian cards and payments industry for 2015, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Australian cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.
Reasons To Buy
  • Make strategic business decisions, using top-level historic and forecast market data, related to the Australian cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Australian cards and payments industry.
  • Assess the competitive dynamics in the Australian cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Australia.
  • Gain insights into key regulations governing the Australian cards and payments industry.
Key Highlights
  • The uptake of alternative payments among Australian consumers is gaining traction due to the availability of a number of options, such as Bpay, POLi payments, Paymate and PayPal. Most recently, in June 2016, Samsung Pay entered the Australian market in collaboration with American Express and Citibank. Similarly, in January 2016, NAB Pay was launched by National Australia Bank (NAB), which was followed by ANZ Bank’s ANZ Mobile Pay the next month, respectively. Also, the country has presence of number of global alternative payment solutions such as Apple Pay, Master Pass and Android Pay. The entry of new payment solutions is likely to intensify competition in Australia’s alternative payments market.
  • To capitalize on the growing popularity of contactless payments, mobile network operator, Optus added new contactless bands and stickers to its mobile payments platform – Cash by Optus in February 2016. In 2015, the Commonwealth Bank of Australia (CBA) launched the Tap & Pay service for Android smartphone users. The service is based on near-field communication (NFC) technology, linked to the bank account. Australia’s most widely used electronic payments system – Electronic Fund Transfer Point of Sale (Eftpos) – joined the contactless payments movement in 2014. Initiatives such as these are anticipated to drive contactless payments over the forecast period (2016–2020).
  • The cost incurred on card transactions by merchants in Australia is passed on to the customers in the form of surcharges. To regulate excessive surcharges on credit and debit card payments, Reserve Bank of Australia (RBA) – the central bank in May 2016 issued a set of new guidelines. Under this, surcharge will be limited to costs incurred by merchants including bank fees and terminal costs. The new regulation is anticipated to result in a reduction in card payment cost and will ease cost pressure on goods and services for consumers. The new regulation will be effective from September 1, 2016 for large merchant and September 1, 2017 for other merchants.


  • Definitions and Methodology
    • Definitions
      • Table Key Definitions
    • Methodology
      • Table Annual Average Exchange Rate
  • Key Facts and Highlights
    • Table Australia - Key Facts, 2015
    • Table Regional Benchmarking of Australia's Payment Cards, 2015
  • Executive Summary
  • Payment Instruments
    • Current Payment Environment
  • E-Commerce and Alternative Payments
    • E-Commerce Market Analysis
    • Alternative Payment Solutions
      • PayPal
      • Apple Pay
      • Android Pay
      • Samsung Pay
      • Master Pass
      • Visa Checkout
      • Bpay
      • ANZ Mobile Pay
      • NAB Pay
      • POLi Payments
      • Paymate
      • Cash by Optus
  • Regulations in the Cards and Payments Industry
    • Regulatory Framework
    • Anti-Money Laundering (AML)
    • Foreign Direct Investment (FDI) Regulations
      • Table Australia - Mode of Entry of Foreign Banks
  • Analysis of Cards and Payments Industry Drivers
  • Market Segmentation and New Product Launches
    • Market Segmentation and Targeting
      • Consumer cards
        • Table Cards for High-Income Consumers, 2016
        • Table Balance Transfer Credit Cards, 2016
        • Table Cards for Travelers, 2016
        • Table Cards for Shoppers, 2016
        • Table Cards for Students and Young Population, 2016
      • Commercial cards
        • Table Commercial Cards Comparison and Key Features, 2016
    • New Product Launches
      • Table Australia - New Product Launches
  • Payment Cards
    • Payment Cards Market Analysis
      • Volume and value of payment card transactions by type
  • Debit Cards
    • Debit Cards Market Analysis
      • Turnover per debit card and transaction values by channel
      • Debit card scheme and issuer shares in terms of transaction value
      • Debit cards comparison
        • Table Australia - Debit Cards Comparison and Key Features, 2016
  • Pay Later Cards
    • Pay Later Cards Market Analysis
      • Turnover per pay later card and transaction values by channel
      • Pay later card scheme and issuer shares in terms of transaction value
      • Pay Later cards comparison
        • Table Australia - Gold Credit Cards Comparison and Key Features, 2016
        • Table Australia - Premium Credit Cards Comparison and Key Features, 2016
        • Table Australia - Charge Cards Comparison and Key Features, 2016
  • Commercial Pay Later Cards
    • Commercial Pay Later Cards Market Analysis
      • Commercial pay later cards comparison
        • Table Australia - Commercial Pay Later Cards Comparison and Key Features, 2016
  • Card Fraud Statistics
  • Card Issuers
    • Commonwealth Bank of Australia
    • Westpac Banking Corporation
    • National Australia Bank
    • ANZ Bank
    • Citibank Australia
    • American Express
  • Prepaid Cards
    • Prepaid Card Market Analysis
      • Prepaid cards comparison
        • Table Australia - Prepaid Cards Comparison and Key Features, 2016
  • Merchant Acquiring
  • Appendix
    • Tables
      • Table Australia - Payment Instrument Transaction Values (AUD Trillion), 2011-2015
      • Table Australia - Payment Instrument Transaction Values (US$ Billion), 2011-2015
      • Table Australia - Payment Instrument Transaction Volumes (Billion), 2011-2015
      • Table Australia - Number of Payment Cards in Circulation by Type (Million), 2011-2020
      • Table Australia - Volume of Payment Card Transactions by Type (Million), 2011-2020
      • Table Australia - Value of Payment Card Transactions by Type (AUD Billion), 2011-2020
      • Table Australia - Value of Payment Card Transactions by Type (US$ Billion), 2011-2020
      • Table Australia - Number of Debit Cards in Circulation (Million), 2011-2020
      • Table Australia - Debit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Australia - Debit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Australia - Number of Debit Cards in Circulation by Scheme (Million), 2011-2015
      • Table Australia - Debit Card Transaction Values by Scheme (AUD Billion), 2011-2015
      • Table Australia - Debit Card Transaction Values by Scheme (US$ Billion), 2011-2015
      • Table Australia - Debit Card Transaction Values by Issuer (AUD Billion), 2011-2015
      • Table Australia - Debit Card Transaction Values by Issuer (US$ Billion), 2011-2015
      • Table Australia - Number of Pay Later Cards in Circulation (Million), 2011-2020
      • Table Australia - Pay Later Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Australia - Pay Later Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Australia - Number of Pay Later Cards in Circulation by Scheme (Million), 2011-2015
      • Table Australia - Pay Later Card Transaction Values by Scheme (AUD Billion), 2011-2015
      • Table Australia - Pay Later Card Transaction Values by Scheme (US$ Billion), 2011-2015
      • Table Australia - Pay Later Card Transaction Values by Issuer (AUD Billion), 2011-2015
      • Table Australia - Pay Later Card Transaction Values by Issuer (US$ Billion), 2011-2015
      • Table Australia - Number of Credit Cards in Circulation (Million), 2011-2020
      • Table Australia - Credit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Australia - Credit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Australia - Number of Credit Cards in Circulation by Scheme (Million), 2011-2015
      • Table Australia - Credit Card Transaction Values by Scheme (AUD Billion), 2011-2015
      • Table Australia - Credit Card Transaction Values by Scheme (US$ Billion), 2011-2015
      • Table Australia - Number of Charge Cards in Circulation (Million), 2011-2020
      • Table Australia - Charge Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Australia - Charge Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Australia - Number of Charge Cards in Circulation by Scheme (Thousand), 2011-2015
      • Table Australia - Charge Card Transaction Values by Scheme (AUD Billion), 2011-2015
      • Table Australia - Charge Card Transaction Values by Scheme (US$ Billion), 2011-2015
      • Table Australia - Personal and Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
      • Table Australia - Personal and Commercial Pay Later Card Transaction Values (AUD Billion), 2011-2020
      • Table Australia - Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 2011-2020
      • Table Australia - Number of Commercial Pay Later Cards in Circulation (Million), 2011-2020
      • Table Australia - Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
      • Table Australia - Commercial Pay Later Card Transaction Values (AUD Billion), 2011-2020
      • Table Australia - Commercial Pay Later Card Transaction Values (US$ Billion), 2011-2020
      • Table Australia - Card Fraud (AUD Million), 2011-2015
      • Table Australia - Card Fraud (US$ Million), 2011-2015
      • Table Australia - Number of Prepaid Cards in Circulation (Thousand), 2011-2020
      • Table Australia - Prepaid Card Transaction Values (AUD Million), 2011-2020
      • Table Australia - Prepaid Card Transaction Values (US$ Million), 2011-2020
      • Table Australia - Merchant Acquiring Transaction Volumes (Billion), 2011-2020
      • Table Australia - Merchant Acquiring Transaction Values (AUD Billion), 2011-2020
      • Table Australia - Merchant Acquiring Transaction Values (US$ Billion), 2011-2020
      • Table Australia - Acquirers' Transaction Volumes (Million), 2011-2015
      • Table Australia - Acquirers' Transaction Values (AUD Billion), 2011-2015
      • Table Australia - Acquirers' Transaction Values (US$ Billion), 2011-2015
      • Table Australia - Retail Outlets and Card Accepting Merchants (Thousand), 2011-2020
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report