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The Cards and Payments Industry in Australia: Emerging Trends and Opportunities to 2020

Published By :

Timetric

Published Date : Aug 2016

Category :

Banking

No. of Pages : 89 Pages

Synopsis
Timetrics 'The Cards and Payments Industry in Australia: Emerging Trends and Opportunities to 2020' 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 direct debits, check payments, payment cards, cash transactions and credit transfers during the review period (20112015).

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 (20162020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetrics 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 and recent changes in the regulatory structure.

Summary
Timetrics 'The Cards and Payments Industry in Australia: Emerging Trends and Opportunities to 2020' 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.

Scope
This report provides a comprehensive analysis of 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
Make 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.

Key Highlights
The uptake of alternative payments among Australian consumers is gaining traction due to the availability of a number of options, such as Bpay, POLi payments, Paymate and PayPal. Most recently, in June 2016, Samsung Pay entered the Australian market in collaboration with American Express and Citibank. Similarly, in January 2016, NAB Pay was launched by National Australia Bank (NAB), which was followed by ANZ Banks ANZ Mobile Pay the next month, respectively. Also, the country has presence of number of global alternative payment solutions such as Apple Pay, Master Pass and Android Pay. The entry of new payment solutions is likely to intensify competition in Australias alternative payments market.

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. Australias 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 (20162020).

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.
Table of Contents
1 DEFINITIONS AND METHODOLOGY
1.1 Definitions
1.2 Methodology
2 KEY FACTS AND HIGHLIGHTS
3 EXECUTIVE SUMMARY
4 PAYMENT INSTRUMENTS
4.1 Current Payment Environment
5 E-COMMERCE AND ALTERNATIVE PAYMENTS
5.1 E-Commerce Market Analysis
5.2 Alternative Payment Solutions
5.2.1 PayPal
5.2.2 Apple Pay
5.2.3 Android Pay
5.2.4 Samsung Pay
5.2.5 Master Pass
5.2.6 Visa Checkout
5.2.7 Bpay
5.2.8 ANZ Mobile Pay
5.2.9 NAB Pay
5.2.10 POLi Payments
5.2.11 Paymate
5.2.12 Cash by Optus
6 REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY
6.1 Regulatory Framework
6.2 Anti-Money Laundering (AML)
6.3 Foreign Direct Investment (FDI) Regulations
7 ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS
8 MARKET SEGMENTATION AND NEW PRODUCT LAUNCHES
8.1 Market Segmentation and Targeting
8.1.1 Consumer cards
8.1.2 Commercial cards
8.2 New Product Launches
9 PAYMENT CARDS
9.1 Payment Cards Market Analysis
9.1.1 Volume and value of payment card transactions by type
10 DEBIT CARDS
10.1 Debit Cards Market Analysis
10.1.1 Turnover per debit card and transaction values by channel
10.1.2 Debit card scheme and issuer shares in terms of transaction value
10.1.3 Debit cards comparison
11 PAY LATER CARDS
11.1 Pay Later Cards Market Analysis
11.1.1 Turnover per pay later card and transaction values by channel
11.1.2 Pay later card scheme and issuer shares in terms of transaction value
11.1.3 Pay Later cards comparison
12 COMMERCIAL PAY LATER CARDS
12.1 Commercial Pay Later Cards Market Analysis
12.1.1 Commercial pay later cards comparison
13 CARD FRAUD STATISTICS
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 Card Market Analysis
15.1.1 Prepaid cards comparison
16 MERCHANT ACQUIRING
17 APPENDIX
17.1 Tables
17.2 Contact Timetric
17.3 About Timetric
17.4 Timetrics Services
17.5 Disclaimer

List of Tables
Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Australia Key Facts, 2015
Table 4: Regional Benchmarking of Australias Payment Cards, 2015
Table 5: Australia Mode of Entry of Foreign Banks
Table 6: Cards for High-Income Consumers, 2016
Table 7: Balance Transfer Credit Cards, 2016
Table 8: Cards for Travelers, 2016
Table 9: Cards for Shoppers, 2016
Table 10: Cards for Students and Young Population, 2016
Table 11: Commercial Cards Comparison and Key Features, 2016
Table 12: Australia New Product Launches
Table 13: Australia Debit Cards Comparison and Key Features, 2016
Table 14: Australia Gold Credit Cards Comparison and Key Features, 2016
Table 15: Australia Premium Credit Cards Comparison and Key Features, 2016
Table 16: Australia Charge Cards Comparison and Key Features, 2016
Table 17: Australia Commercial Pay Later Cards Comparison and Key Features, 2016
Table 18: Australia Prepaid Cards Comparison and Key Features, 2016
Table 19: Australia Payment Instrument Transaction Values (AUD Trillion), 20112015
Table 20: Australia Payment Instrument Transaction Values (US$ Billion), 20112015
Table 21: Australia Payment Instrument Transaction Volumes (Billion), 20112015
Table 22: Australia Number of Payment Cards in Circulation by Type (Million), 20112020
Table 23: Australia Volume of Payment Card Transactions by Type (Million), 20112020
Table 24: Australia Value of Payment Card Transactions by Type (AUD Billion), 20112020
Table 25: Australia Value of Payment Card Transactions by Type (US$ Billion), 20112020
Table 26: Australia Number of Debit Cards in Circulation (Million), 20112020
Table 27: Australia Debit Card Transaction Volumes and Frequency by Channel, 20112020
Table 28: Australia Debit Card Total and Average Transaction Values by Channel, 20112020
Table 29: Australia Debit Card Total and Average Transaction Values by Channel, 20112020
Table 30: Australia Number of Debit Cards in Circulation by Scheme (Million), 20112015
Table 31: Australia Debit Card Transaction Values by Scheme (AUD Billion), 20112015
Table 32: Australia Debit Card Transaction Values by Scheme (US$ Billion), 20112015
Table 33: Australia Debit Card Transaction Values by Issuer (AUD Billion), 20112015
Table 34: Australia Debit Card Transaction Values by Issuer (US$ Billion), 20112015
Table 35: Australia Number of Pay Later Cards in Circulation (Million), 20112020
Table 36: Australia Pay Later Card Transaction Volumes and Frequency by Channel, 20112020
Table 37: Australia Pay Later Card Total and Average Transaction Values by Channel, 20112020
Table 38: Australia Pay Later Card Total and Average Transaction Values by Channel, 20112020
Table 39: Australia Number of Pay Later Cards in Circulation by Scheme (Million), 20112015
Table 40: Australia Pay Later Card Transaction Values by Scheme (AUD Billion), 20112015
Table 41: Australia Pay Later Card Transaction Values by Scheme (US$ Billion), 20112015
Table 42: Australia Pay Later Card Transaction Values by Issuer (AUD Billion), 20112015
Table 43: Australia Pay Later Card Transaction Values by Issuer (US$ Billion), 20112015
Table 44: Australia Number of Credit Cards in Circulation (Million), 20112020
Table 45: Australia Credit Card Transaction Volumes and Frequency by Channel, 20112020
Table 46: Australia Credit Card Total and Average Transaction Values by Channel, 20112020
Table 47: Australia Credit Card Total and Average Transaction Values by Channel, 20112020
Table 48: Australia Number of Credit Cards in Circulation by Scheme (Million), 20112015
Table 49: Australia Credit Card Transaction Values by Scheme (AUD Billion), 20112015
Table 50: Australia Credit Card Transaction Values by Scheme (US$ Billion), 20112015
Table 51: Australia Number of Charge Cards in Circulation (Million), 20112020
Table 52: Australia Charge Card Transaction Volumes and Frequency by Channel, 20112020
Table 53: Australia Charge Card Total and Average Transaction Values by Channel, 20112020
Table 54: Australia Charge Card Total and Average Transaction Values by Channel, 20112020
Table 55: Australia Number of Charge Cards in Circulation by Scheme (Thousand), 20112015
Table 56: Australia Charge Card Transaction Values by Scheme (AUD Billion), 20112015
Table 57: Australia Charge Card Transaction Values by Scheme (US$ Billion), 20112015
Table 58: Australia Personal and Commercial Pay Later Card Transaction Volumes (Million), 20112020
Table 59: Australia Personal and Commercial Pay Later Card Transaction Values (AUD Billion), 20112020
Table 60: Australia Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 20112020
Table 61: Australia Number of Commercial Pay Later Cards in Circulation (Million), 20112020
Table 62: Australia Commercial Pay Later Card Transaction Volumes (Million), 20112020
Table 63: Australia Commercial Pay Later Card Transaction Values (AUD Billion), 20112020
Table 64: Australia Commercial Pay Later Card Transaction Values (US$ Billion), 20112020
Table 65: Australia Card Fraud (AUD Million), 20112015
Table 66: Australia Card Fraud (US$ Million), 20112015
Table 67: Australia Number of Prepaid Cards in Circulation (Thousand), 20112020
Table 68: Australia Prepaid Card Transaction Values (AUD Million), 20112020
Table 69: Australia Prepaid Card Transaction Values (US$ Million), 20112020
Table 70: Australia Merchant Acquiring Transaction Volumes (Billion), 20112020
Table 71: Australia Merchant Acquiring Transaction Values (AUD Billion), 20112020
Table 72: Australia Merchant Acquiring Transaction Values (US$ Billion), 20112020
Table 73: Australia Acquirers Transaction Volumes (Million), 20112015
Table 74: Australia Acquirers Transaction Values (AUD Billion), 20112015
Table 75: Australia Acquirers Transaction Values (US$ Billion), 20112015
Table 76: Australia Retail Outlets and Card Accepting Merchants (Thousand), 20112020

List of Figures
Figure 1: Australia Payment Instrument Shares by Transaction Value (%), 2011 vs 2015
Figure 2: Australia Payment Instrument Shares by Transaction Volume (%), 2011 vs 2015
Figure 3: E-Commerce Value, 20112020
Figure 4: Australia E-Commerce Payment Methods, 2015
Figure 5: Australia Population
Figure 6: Australia Economic Indicators
Figure 7: Australia ATMs and POS Terminals
Figure 8: Australia Household Consumption
Figure 9: Australia Segmentation by Card Type, 2016
Figure 10: Australia Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 20112020
Figure 11: Australia Volume and Value of Payment Card Transactions by Type (%), 20112020
Figure 12: Australia Debit Card Penetration and Number of Debit Cards in Circulation, 20112020
Figure 13: Australia Debit Card, Average Interchange Fees: Intra-Network Transactions (%), 20112015
Figure 14: Australia Debit Card, Average Merchant Service Charge and Interchange Fee (%), 20112020
Figure 15: Australia Turnover Per Debit Card and Transaction Values by Channel, 20112020
Figure 16: Australia Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 17: Australia Pay Later Cards Penetration and Number of Pay Later Cards in Circulation, 20112020
Figure 18: Australia Pay Later Card, Average Interchange Fees: Intra-Network Transactions (%), 20112015
Figure 19: Australia Pay Later Card, Average Merchant Service Charge and Interchange Fee (%), 20112020
Figure 20: Australia Turnover Per Pay Later Card and Transaction Values by Channel, 20112020
Figure 21: Australia Pay Later Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 22: Australia Commercial vs Personal Pay Later Card, Transaction Volumes and Values (%), 20112020
Figure 23: Australia Number of Commercial Pay Later Cards in Circulation, Transaction Value and Volume, 20112020
Figure 24: Australia Shares of Various Types of Card Fraud in Terms of Transaction Value (%), 2011 vs 2015
Figure 25: Australia Number of Prepaid Cards in Circulation and Transaction Value, 20112020
Figure 26: Australia Merchant Acquiring Transaction Volume and Value, 20112020
Figure 27: Australia Acquirers Market Share in Terms of Transaction Volume and Value (%), 2015
Figure 28: Australia Number of Retail Outlets and Card Accepting Merchants (Thousand), 20112020

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