The Cards and Payments Industry in Australia: Emerging Trends and Opportunities to 2020 is a new market research publication announced by Reportstack. 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 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.
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
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
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.
Companies Mentioned
Commonwealth Bank of Australia Westpac Banking Corporation National Australia Bank ANZ Bank Citibank Australia American Express Australia Eftpos Visa MasterCard Diners Club
Contact:
Debora White
Manager - Marketing
Ph: +1-888-789-6604
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