Australia Cards and Payments - Opportunities and Risks to 2027

Australia Cards and Payments - Opportunities and Risks to 2027
Summary

GlobalData’s ‘Australia Cards and Payments: Opportunities and Risks to 2027' 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 cards, credit transfer, cash, direct debits and cheques during the review-period (2019-23e).

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 (2023e-27). 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.

This 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, credit and charge cards.Detailed insights into payment instruments including cards, credit transfer, cash, 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 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 of the Australian cards and payments industry.ScopeContactless payments are increasingly being rolled out for transport. In May 2023, Public Transport Victoria announced plans to launch contactless payment options. Trials will begin in 2024 featuring contactless debit and credit cards as well as mobile payments. Meanwhile, in August 2023, Adelaide Metro launched contactless payments on trams and O-Bahn buses for Visa, Mastercard, and metroCARD card holders. By the end of 2023, all Adelaide Metro buses will also accept contactless payments.In addition to traditional card issuers, fintech companies are making their presence felt in the payment card space. In June 2023, UK-based fintech Wise partnered with payment companies ProSpend and Parpera to roll out digital debit cards and multi-currency accounts. In January 2023, payment company Zeller launched debit cards for SMEs to meet their business expenses. The company had 30,000 business customers as of January 2023.To capitalize on the growing ecommerce market, international companies are launching their services in Australia. In September 2022, Switzerland-based watch company Zenith launched its online shopping platform in Australia. In addition, online shopping methods such as livestream shopping are emerging. In July 2022, ecommerce services provider Shopify partnered with YouTube, allowing its merchants to sell their products through the video streaming platform.Reasons to BuyMake 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.