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Australia Cards and Payments Market

P&S Market Research-Australia Cards and Payments Market report

Australia Cards and Payments Market – Size, Share, Development, Growth and Forecast to 2020

Published: April 2016
Report Code: FS10570
Available Format: pdf
Pages: 63

Report coverage

  • Historical market size for the period 2012-2014 and forecast for the period 2015-2020.
  • Number of cards in cirulation, and value and volume of transactions.
  • Number of terminal, and value and volume of transactions.
  • Industry trends, drivers, and opportunities.
  • Competitive landscape of card issuers for both, debit cards and credit cards.
  • Major schemes, debit and credit cards by customer segments.

Research methodology

The study is based on extensive secondary and primary research. The various sources studied during the secondary research include websites of payment/ banking/ industry associations, industry regulatory bodies, banks, and card issuers. The primary research included in-depth interviews with industry experts and key opinion leaders.

Australia cards and payments market overview

In terms of number of cards in circulation, the Australian payment cards market grew at a CAGR of 4.1% during the period 2012-2014. The growth of cards in circulation during the period 2012 -2014 can be attributed to a rising banked population, growing disposable income, the expansion of ATMs and POS terminals, and greater acceptance of payment cards in the country. During the forecast period, the payment card transactions in Australia is expected to grow at 5% CAGR.

Food and drinks were the most frequently purchased items in Australia, using both debit and credit cards. The food and drinks category was followed by clothing and footwear in second position, which accounted for 14.6% of total transactions in the debit card category and 14.1% in the credit card category.

In Australia, the debit cards dominate the payment cards market in terms of number of cards in circulation. Debit cards are being used by consumers to shop at retail outlets, withdraw cash from ATMs and make online payments. Debit card frequency of use increased from 103.3 in 2012 to 110.6 in 2014, at a CAGR of 3.5%. Credit cards are primarily used by consumers at POS terminals for retail purchases, rather than for cash withdrawals at ATMs. In 2014, transactions at POS terminals accounted for 99% of total credit card transactions in Australia. MasterCard was the leading scheme in the credit card market in 2014. The frequency of credit card use increased at a CAGR of 5.3% during 2012-2014. The frequency of transaction for credit card is expected to reach up to 109.8 times by 2020.

The value of charge card transactions at POS terminals represented 99.4% of total charge cards transaction value in 2014.

Key players in the Australia cards and payments market:

  • Commonwealth Bank of Australia
  • Australia and New Zealand Bank
  • Westpac Bank
  • ANZ

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