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The Cards and Payments Industry in Australia: Emerging Trends and Opportunities to 2019

Published By :

Timetric

Published Date : Jul 2015

Category :

Cards & Payments

No. of Pages : 87 Pages

Synopsis

Timetric’s 'The Cards and Payments Industry in Australia: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into Australia's cards and payments industry, including:
  • Current and forecast values for each market in Australia's cards and payments industry, including debit cards, credit and charge cards. It also includes detailed analysis of the prepaid cards market
  • Detailed insights into payment instruments including check payments, credit transfers, direct debits, payment cards and cash transactions, and an overview of the country's key alternative payment instruments
  • Analysis of various market drivers and regulations governing Australia's 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 Australia's cards and payments industry
Executive summary

Timetric’s 'The Cards and Payments Industry in Australia: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in Australia's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, direct debits, payment cards and cash transactions during the review period (2010–2014).

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 (2015–2019). It also offers information on the country's competitive landscape, including 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, recent changes in regulatory structure, card fraud statistics, and profiles of card issuers operating in the country.

Scope
  • This report provides a comprehensive analysis of Australia's cards and payments industry.
  • It provides current values for Australia's cards and payments industry for 2014, and forecast figures to 2019.
  • It details the different economic, infrastructural and business drivers affecting Australia's cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.
  • It profiles major banks in Australia's cards and payments industry.
Reasons to buy
  • Make strategic business decisions, using top-level historic and forecast market data, related to Australia's cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in Australia's cards and payments industry.
  • Assess the competitive dynamics in Australia's cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Australia.
  • Gain insights into key regulations governing Australia's cards and payments industry.
Key highlights
  • Australia’s most widely used electronic payments system – Electronic Fund Transfer Point of Sale (Eftpos) – joined the contactless payments movement in September 2014. According to Visa, nearly 1 million contactless transactions are made daily, with contactless transactions representing 10% all payment card transactions as of August 2014. Furthermore, 820,000 Eftpos terminals – accounting for 94.9% of total POS terminals in the country – are expected to be upgraded by the end of 2015. This will drive payment card transaction values and volumes over the forecast period.
  • Australia, like many other developed nations, registered an increase in the use of payment cards during the review period (2010–2014). While this provided greater convenience for consumers, it was accompanied by higher levels of fraud. In a bid to make card payments safer, the Industry Security Initiative, an association of Australia’s main financial institutions and card schemes, replaced the signature with PIN-based payments at POS terminals on August 1, 2014, which is anticipated to curtail card fraud over the forecast period.
  • Competition in the Australian payment cards market has encouraged operators to introduce innovative payment solutions. MasterCard launched its digital wallet MasterPass in February 2013, following which Visa launched its digital wallet service, V.me, in December 2013. However, it was replaced by Visa Checkout in July 2014, which has additional features and enhances consumer convenience for online transactions.

1 Definitions and Methodology
1.1 Definitions
1.2 Methodology

2 Key Facts and Events

3 Executive Summary

4 Payment Instruments
4.1 Current Payment Environment
4.2 Alternative Payment Instruments
4.2.1 Bpay
4.2.2 POLi
4.2.3 Kaching
4.2.4 Paymate
4.2.5 PayPal
4.2.6 MasterPass
4.2.7 Visa Checkout
4.2.8 Starbucks mobile wallet

5 Regulations in the Cards and Payments Industry
5.1 Regulatory Framework
5.1.1 Standards under the Payment Systems (Regulation) Act, 1998
5.1.2 Interchange fee benchmarks
5.1.3 Payment cards access regimes for MasterCard, Visa and Visa Debit
5.1.4 Regulations governing the prepaid cards market in Australia
5.2 Anti-Money Laundering (AML)
5.3 Foreign Direct Investment (FDI) Regulations

6 Analysis of Cards and Payments Industry Drivers
6.1 Demographic Drivers
6.2 Economic Drivers
6.3 Infrastructure Drivers
6.4 Business Drivers

7 Market Segmentation and New Product Launches
7.1 Market Segmentation and Targeting
7.1.1 Consumer cards
7.1.2 Commercial cards
7.2 New Product Launches

8 Payment Cards
8.1 Payment Cards Analysis
8.1.1 Volume and value of payment card transactions by type
8.1.2 Personal vs commercial cards

9 Debit Cards
9.1 Debit Cards Market Analysis
9.1.1 Debit card transaction volumes and values by channel
9.1.2 Debit card scheme shares in terms of number of cards in circulation and transaction value
9.1.3 Debit cards issuers’ market shares
9.1.4 Debit cards comparison

10 Credit Cards
10.1 Credit Cards Market Analysis
10.1.1 Credit card transaction volumes and values by channel
10.1.2 Credit card scheme shares in terms of number of cards in circulation and transaction value
10.1.3 Credit cards issuers’ market shares
10.1.4 Credit cards comparison

11 Charge Cards
11.1 Charge Cards Market Analysis
11.1.1 Charge card transaction volumes and values by channel
11.1.2 Charge card scheme shares in terms of number of cards in circulation and transaction value
11.1.3 Charge cards comparison

12 Commercial Cards
12.1 Commercial Cards Market Analysis
12.1.1 Commercial cards comparison

13 Card Fraud Statistics
13.1 Card Fraud Analysis

14 Card Issuers
14.1 Commonwealth Bank of Australia
14.2 Westpac Banking Corporation
14.3 National Australia Bank
14.4 ANZ Bank
14.5 Citibank Australia
14.6 American Express

15 Prepaid Cards
15.1 Prepaid Cards Market Analysis
15.1.1 Prepaid cards comparison

16 Merchant Acquiring
16.1 Merchant Acquiring Market Analysis

17 Appendix
17.1 Tables
17.2 Contact Timetric
17.3 About Timetric
17.4 Timetric’s Services
17.5 Disclaimer

List of Table

Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Australia – Key Facts, 2014
Table 4: Regional Benchmarking of Australian Payment Cards, 2014
Table 5: Australia – Modes of Entry of Foreign Banks
Table 6: Cards for High-Income Consumers, 2015
Table 7: Balance Transfer Credit Cards, 2015
Table 8: Cards for Travelers, 2015
Table 9: Shopping Reward Credit Cards, 2015
Table 10: Cards for Students and Youth Population, 2015
Table 11: Commercial Cards Comparison and Key Features, 2015
Table 12: Australia – New Product Launches
Table 13: Australia – Pay now, Average Interchange Fees: Intra-Network Transactions (%), 2010–2014
Table 14: Australia – Pay now, Average Merchant Service Charge: Domestic Transactions (%), 2010–2019
Table 15: Australia – Debit Cards Comparison and Key Features, 2014
Table 16: Australia – Pay later, Average Interchange Fees: Intra-Network Transactions (%), 2010–2014
Table 17: Australia – Pay later, Average Merchant Service Charge: Domestic Transactions (%), 2010–2019
Table 18: Australia – Gold Credit Cards Comparison and Key Features, 2015
Table 19: Australia – Premium Credit Cards Comparison and Key Features, 2015
Table 20: Australia – Charge Cards Comparison and Key Features, 2015
Table 21: Australia – Commercial Cards Comparison and Key Features, 2015
Table 22: Australia – Prepaid Cards Comparison and Key Features, 2015
Table 23: Australia – Merchant Account Fee Comparison, 2015
Table 24: Australia – Payment Instrument Transaction Values (AUD Billion), 2010–2014
Table 25: Australia – Payment Instrument Transaction Values (US$ Billion), 2010–2014
Table 26: Australia – Payment Instrument Transaction Volumes (Million), 2010–2014
Table 27: Australia – Number of Payment Cards in Circulation by Type (Million), 2010–2019
Table 28: Australia – Volume of Payment Card Transactions by Type (Million), 2010–2019
Table 29: Australia – Value of Payment Card Transactions by Type (AUD Billion), 2010–2019
Table 30: Australia – Value of Payment Card Transactions by Type (US$ Billion), 2010–2019
Table 31: Australia – Personal and Commercial Card Transaction Volumes (Million), 2010–2019
Table 32: Australia – Personal and Commercial Card Transaction Values (AUD Billion), 2010–2019
Table 33: Australia – Personal and Commercial Card Transaction Values (US$ Billion), 2010–2019
Table 34: Australia – Number of Debit Cards in Circulation (Million), 2010–2019
Table 35: Australia – Debit Card Transaction Volumes and Frequency by Channel, 2010–2019
Table 36: Australia – Debit Card Total and Average Transaction Values by Channel, 2010–2019
Table 37: Australia – Debit Card Total and Average Transaction Values by Channel, 2010–2019
Table 38: Australia – Number of Debit Cards in Circulation by Scheme (Million), 2010–2014
Table 39: Australia – Debit Card Transaction Values by Scheme (AUD Billion), 2010–2014
Table 40: Australia – Debit Card Transaction Values by Scheme (US$ Billion), 2010–2014
Table 41: Australia – Debit Card Transaction Values by Issuer (AUD Billion), 2010–2014
Table 42: Australia – Debit Card Transaction Values by Issuer (US$ Billion), 2010–2014
Table 43: Australia – Number of Credit Cards in Circulation (Million), 2010–2019
Table 44: Australia – Credit Card Transaction Volumes and Frequency by Channel, 2010–2019
Table 45: Australia – Credit Card Total and Average Transaction Values by Channel, 2010–2019
Table 46: Australia – Credit Card Total and Average Transaction Values by Channel, 2010–2019
Table 47: Australia – Number of Credit Cards in Circulation By Scheme (Million), 2010–2014
Table 48: Australia – Credit Card Transaction Values by Scheme (AUD Billion), 2010–2014
Table 49: Australia – Credit Card Transaction Values by Scheme (US$ Billion), 2010–2014
Table 50: Australia – Credit Card Transaction Values by Issuer (AUD Billion), 2010–2014
Table 51: Australia – Credit Card Transaction Values by Issuer (US$ Billion), 2010–2014
Table 52: Australia – Credit Card Balances Outstanding by Issuer (AUD Billion), 2010–2014
Table 53: Australia – Credit Card Balances Outstanding by Issuer (US$ Billion), 2010–2014
Table 54: Australia – Number of Charge Cards in Circulation (Thousand), 2010–2019
Table 55: Australia – Charge Card Transaction Volumes and Frequency by Channel, 2010–2019
Table 56: Australia – Charge Card Total and Average Transaction Values by Channel, 2010–2019
Table 57: Australia – Charge Card Total and Average Transaction Values by Channel, 2010–2019
Table 58: Australia – Number of Charge Cards in Circulation By Scheme (Thousand), 2010–2014
Table 59: Australia – Charge Card Transaction Values by Scheme (AUD Billion), 2010–2014
Table 60: Australia – Charge Card Transaction Values by Scheme (US$ Billion), 2010–2014
Table 61: Australia – Number of Commercial Cards in Circulation (Thousand), 2010–2019
Table 62: Australia – Commercial Card Transaction Values (AUD Billion), 2010–2019
Table 63: Australia – Commercial Card Transaction Values (US$ Billion), 2010–2019
Table 64: Australia – Card Fraud (AUD Million), 2010–2014
Table 65: Australia – Card Fraud (US$ Million), 2010–2014
Table 66: Australia – Number of Prepaid Cards in Circulation (Million), 2010–2019
Table 67: Australia – Prepaid Card Transaction Values (AUD Million), 2010–2019
Table 68: Australia – Prepaid Card Transaction Values (US$ Million), 2010–2019
Table 69: Australia – Merchant Acquiring Transaction Volume by Card Type (Million), 2010–2019
Table 70: Australia – Merchant Acquiring Total Transaction Value (AUD Billion), 2010–2019
Table 71: Australia – Merchant Acquiring Total Transaction Value (US$ Billion), 2010–2019
Table 72: Australia – Acquirers’ Transaction Volume (Million), 2010–2014
Table 73: Australia – Acquirers’ Transaction Value (AUD Billion), 2010–2014
Table 74: Australia – Acquirers’ Transaction Value (US$ Billion), 2010–2014
Table 75: Australia – Retail Outlets and Total Merchant Accounts (Thousand), 2010–2019

List of Chart

Figure 1: Australia – Payment Instrument Shares by Transaction Values (%), 2010 and 2014
Figure 2: Australia – Payment Instrument Shares by Transaction Volumes (%), 2010 and 2014
Figure 3: Australia – Total Population and Structure, 2014
Figure 4: Australia – Internet and Mobile Penetration (Users per 100 Inhabitants), 2010–2019
Figure 5: Australia – Economic Indicators, 2010–2019
Figure 6: Australia – Number of ATMs, POS Terminals and Commercial Bank Branches, 2010–2019
Figure 7: Australia – Household Final Consumption Expenditure and Retail Sales, 2010–2014
Figure 8: Australia – E-Commerce Value (US$ Billion), 2010–2019
Figure 9: Australia – Outbound and Inbound Trips Volume and Spending, 2010–2019
Figure 10: Australia – Cards and Payments Industry Segmentation by Card Type, 2015
Figure 11: Australia – Growth in Payment Cards Transaction Value and Number of Cards in Circulation by Type, 2010–2019
Figure 12: Australia – Volume and Value of Payment Card Transactions by Type (%), 2010–2019
Figure 13: Australia – Personal and Commercial Cards, Transaction Volume and Value (%), 2010–2019
Figure 14: Australia – Growth in Debit Card Transaction Values and Number of Cards in Circulation, 2010–2019
Figure 15: Australia – Debit Card Transaction Volumes and Values by Channel, 2010–2019
Figure 16: Australia – Debit Card Scheme Shares in Terms of Number of Cards in Circulation and Transaction Value (%), 2014
Figure 17: Australia – Debit Cards Issuers’ Market Shares in Terms of Transaction Value (%), 2014
Figure 18: Australia – Growth in Credit Card Transaction Values and Number of Credit Cards in Circulation, 2010–2019
Figure 19: Australia – Credit Card Transaction Volumes and Values by Channel, 2010–2019
Figure 20: Australia – Credit Card Scheme Shares in Terms of Number of Cards in Circulation and Transaction Value (%), 2014
Figure 21: Australia – Credit Cards Issuers’ Market Shares in Terms of Transaction Value (%), 2014
Figure 22: Australia – Credit Cards Issuers’ Market Shares in Terms of Outstanding Balance (%), 2014
Figure 23: Australia – Growth in Charge Card Transaction Values and Number of Charge Cards in Circulation, 2010–2019
Figure 24: Australia – Charge Card Transaction Volumes and Values by Channel, 2010–2019
Figure 25: Australia – Charge Card Scheme Shares in Terms of Number of Cards in Circulation and Transaction Value (%), 2014
Figure 26: Australia – Number of Commercial Cards in Circulation and Transaction Value, 2010–2019
Figure 27: Australia – Shares of Various Types of Card Fraud in Terms of Transaction Value (%), 2010 and 2014
Figure 28: Australia – Number of Prepaid Cards in Circulation and Transaction Value, 2010–2019
Figure 29: Australia – Merchant Acquiring Transaction Volume and Value, 2010–2019
Figure 30: Australia – Merchant Acquirers’ Market Share in Terms of Transaction Volume and Value %, 2014
Figure 31: Australia – Number of Retail Outlets and Total Merchant Accounts (Thousand), 2010–2019

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