Australia Cards and Payment Market Outlook to 2027F
By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS and ATMs), By Payment Instruments (Credit Transfers, Direct Debit, Cheques, Cash and Payment Cards)
April 2023
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About the Report
About the Report
The report provides a comprehensive analysis of the potential of the Cards and Payment Market in Australia. The report covers an overview and genesis of the industry, market size in terms of revenue.
The Australia Cards and Payment Market segmentations include by cards, by payment terminals and by payment instruments; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.
Market Overview:
According to Ken Research estimates, the Australia Cards and Payment Market is forecasted to grow at a CAGR of ~% in the period of 2022-2027F, owing to the rising of contactless payments, increasing debit card usage and the emergence of digital wallets.
- A new national QR payment system offering a pay-by-account option at the POS made possible by the New Payment Platform presents exciting opportunities for ambitious entrants, although it will take well-informed strategy and savvy partnerships to find a place in a market so long dominated by the Big Four banks.
- With the pandemic accelerating the declining use of cash in Australia, the increasing trend of card and digital transactions is leading to further subdued usage of cash in 2022.
Key Trends by Market Segment:
By Cards: Debit Cards accounted for the majority of cards used for payments in the Australia Cards and Payment Industry in 2022. Australians are very comfortable using debit and credit cards for payments, which has resulted in this growth.
By Payment Instrument: Payment Cards dominated the Australia Cards and Payment Market in terms of the payment instruments used in 2022. Continuous investment in payment infrastructure by the government and financial institutions, growing adoption of contactless payments, and declining interchange fees have boosted payment card market growth. Consumers now have more payment choices, particularly for low-value purchases, and there has been a decline in cash use as a result.
Competitive Landscape
In Australia Cards and Payment Market there are about ~ players operating in the overall market, and top ~ players accounted ~% share in the market in terms of revenue. The major parameters on which these players compete includes Year Established, Services Offered, Interest Rates and others.
Future Outlook
The Australia Cards and Payment Market is expected to show a growth of CAGR ~% in the forecasted period of 2022-2027F reaching ~ USD, with the rising of contactless payments, increasing debit card usage and the emergence of digital wallets.
Scope Of The Report
Scope of the Report
|
By Cards |
Debit Cards Credit Cards Prepaid Cards |
|
By Payment Terminals |
POS ATM's |
|
By Payment Instruments |
Credit Transfers Direct Debit Cheques Cash Payment Cards |
Products
Products
Key Target Audience
- Government Bodies and Regulatory Authority
- Fintech Companies
- Investors and Financiers
- Venture Capitalist
- New Market Entrants
- Banks
- ATM Operators
Time Period Captured in the Report
- Historical Period: 2017-2022
- Base Year: 2022
- Forecast Period: 2022-2027F
Companies
- CommBank
- Westpac
- ANZ
- NAB
- Bendigo and Adelaide Bank
- Credit unions and building societies
- Suncorp
- Heritage Bank
- Bank of Queensland
- Citibank
- HSBC
- eftpos
- Visa
- Mastercard
- American Express
- Diners Club
- Worldline
- Tyro
- Fiserv
- PayPal
- Apple Pay
- Afterpay
- Google Pay
- Klarna
- Samsung Pay
- POLi
- Click to Pay
- Beem
Table of Contents
Table of Contents
1. Executive Summary
2. Country Overview of the Australia
3. Overview and Genesis of Cards and Payment Market in Australia
3.1 Ecosystem of Australia Cards and Payment Market
3.2 Business Cycle of Australia Cards and Payment Market
3.3 Timeline of Major Players of Australia Cards and Payment Market
3.4 Value Chain Analysis of Australia Cards and Payment Market
3.5 Australia Cards and Payment Market Sizing, 2017- 2022
4. Market Segmentations of Cards and Payment Market in Australia, 2017-2022
4.1 Australia Cards and Payment Market Segmentation by Cards
4.2 Australia Cards and Payment Market Segmentation by Payment Terminals
4.3 Australia Cards and Payment Market Segmentation by Payment Instruments
5. Snapshots on different Cards and Payment Markets in Australia
6. Industrial Analysis of Cards and Payment Market in Australia
6.1 SWOT Analysis of Australia Cards and Payment Market
6.2 Growth Drivers of Australia Cards and Payment Market
6.3 Government regulations of Australia Cards and Payment Market
6.4 Trends and Developments of Australia Cards and Payment Market
6.5 Challenges of Australia Cards and Payment Market
7. End User Analysis of Cards and Payment Market in Australia
8. Competitive Analysis of Cards and Payment Market in Australia
8.1 Market Share of Major Players in Australia Cards and Payment Market, 2022
8.2 Cross Comparison of Major Players in Australia Cards and Payment Market
9. Future Outlook and Projections of Cards and Payment Market in Australia, 2022-2027F
9.1 Future Market Sizing Analysis of Australia Cards and Payment Market, 2022-2027F
9.2 Future Outlook of Australia Cards and Payment Market Segmentation by Cards
9.3 Future Outlook of Australia Cards and Payment Market Segmentation by Payment Terminals
9.4 Future Outlook of Australia Cards and Payment Market Segmentation by Payment Instruments
10. Analyst Recommendations
11. Research Methodology
Disclaimer
Contact Us
Research Methodology
Research Methodology
Step 1: Identifying Key Variables:
Our team will initially create an ecosystem for all the entities in the Cards and Payment Market that are providing cards and payment services, in Australia Market.
Step 2: Market Building:
In the next step, we have referred to multiple secondary and proprietary databases to perform deck research around the market and collate industry-level information to create an initial level hypothesis. We also explore company-level info by referring press releases, annual reports, financial statements, and other documents to understand basic information about the companies and market level.
Step 3: Validating and Finalizing:
Later our team conducts a series of Interviews with multiple C-Level Executive and other stakeholders belonging to different companies to confirm the market hypothesis, validate statistics and seek operational and financial information from company representatives.
Step 4: Research Output:
Furthermore, to validate this data our team pitches each company as a potential customer through a mystery shopping exercise and confirms the operational and financial performance of Australia Cards and Payment Market Entities which have been shared by company executives and available on secondary databases. We also conduct another set of CATIs with the respective entities to understand customer behaviour, channel preference, and other factors. We assess customer analysis in terms of their preferences and pain points.
Frequently Asked Questions
Frequently Asked Questions
01 What is the Study Period of this Market Report?
The Australia Cards and Payment Market is covered from 2017-2027 in this report.
02 What is the Forecast Period of this Market Report?
The Australia Cards and Payment Market has a forecast for 2022-2027F.
03 What are the Key Factors Driving the Australia Cards and Payment Market?
Rising of contactless payments, increasing debit card usage and the emergence of digital wallets.
04 What is the Future Growth Rate of the Australia Cards and Payment Market?
The Australia Cards and Payment Market is expected to witness a CAGR of ~% over the next five years.
05 Who are the Key Players in the Australia Cards and Payment Market?
CommBank, Westpac, ANZ, NAB and Bendigo and Adelaide Bank are some key players in the Australia Cards and Payment Industry.
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