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

Published: Aug, 2016 | Pages: 89 | Publisher: Timetric
Industry: Financial Services | Report Format: Electronic (PDF)

Synopsis
Timetric's '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 (2011-2015).

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 (2016-2020). It also offers information on the country's competitive landscape, including the 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 and recent changes in the regulatory structure.
Summary

Timetric's '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 Bank's 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 Australia's 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. 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.

 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 Timetric's 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 Australia's 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), 2011-2015
Table 20: Australia - Payment Instrument Transaction Values (US$ Billion), 2011-2015
Table 21: Australia - Payment Instrument Transaction Volumes (Billion), 2011-2015
Table 22: Australia - Number of Payment Cards in Circulation by Type (Million), 2011-2020
Table 23: Australia - Volume of Payment Card Transactions by Type (Million), 2011-2020
Table 24: Australia - Value of Payment Card Transactions by Type (AUD Billion), 2011-2020
Table 25: Australia - Value of Payment Card Transactions by Type (US$ Billion), 2011-2020
Table 26: Australia - Number of Debit Cards in Circulation (Million), 2011-2020
Table 27: Australia - Debit Card Transaction Volumes and Frequency by Channel, 2011-2020
Table 28: Australia - Debit Card Total and Average Transaction Values by Channel, 2011-2020
Table 29: Australia - Debit Card Total and Average Transaction Values by Channel, 2011-2020
Table 30: Australia - Number of Debit Cards in Circulation by Scheme (Million), 2011-2015
Table 31: Australia - Debit Card Transaction Values by Scheme (AUD Billion), 2011-2015
Table 32: Australia - Debit Card Transaction Values by Scheme (US$ Billion), 2011-2015
Table 33: Australia - Debit Card Transaction Values by Issuer (AUD Billion), 2011-2015
Table 34: Australia - Debit Card Transaction Values by Issuer (US$ Billion), 2011-2015
Table 35: Australia - Number of Pay Later Cards in Circulation (Million), 2011-2020
Table 36: Australia - Pay Later Card Transaction Volumes and Frequency by Channel, 2011-2020
Table 37: Australia - Pay Later Card Total and Average Transaction Values by Channel, 2011-2020
Table 38: Australia - Pay Later Card Total and Average Transaction Values by Channel, 2011-2020
Table 39: Australia - Number of Pay Later Cards in Circulation by Scheme (Million), 2011-2015
Table 40: Australia - Pay Later Card Transaction Values by Scheme (AUD Billion), 2011-2015
Table 41: Australia - Pay Later Card Transaction Values by Scheme (US$ Billion), 2011-2015
Table 42: Australia - Pay Later Card Transaction Values by Issuer (AUD Billion), 2011-2015
Table 43: Australia - Pay Later Card Transaction Values by Issuer (US$ Billion), 2011-2015
Table 44: Australia - Number of Credit Cards in Circulation (Million), 2011-2020
Table 45: Australia - Credit Card Transaction Volumes and Frequency by Channel, 2011-2020
Table 46: Australia - Credit Card Total and Average Transaction Values by Channel, 2011-2020
Table 47: Australia - Credit Card Total and Average Transaction Values by Channel, 2011-2020
Table 48: Australia - Number of Credit Cards in Circulation by Scheme (Million), 2011-2015
Table 49: Australia - Credit Card Transaction Values by Scheme (AUD Billion), 2011-2015
Table 50: Australia - Credit Card Transaction Values by Scheme (US$ Billion), 2011-2015
Table 51: Australia - Number of Charge Cards in Circulation (Million), 2011-2020
Table 52: Australia - Charge Card Transaction Volumes and Frequency by Channel, 2011-2020
Table 53: Australia - Charge Card Total and Average Transaction Values by Channel, 2011-2020
Table 54: Australia - Charge Card Total and Average Transaction Values by Channel, 2011-2020
Table 55: Australia - Number of Charge Cards in Circulation by Scheme (Thousand), 2011-2015
Table 56: Australia - Charge Card Transaction Values by Scheme (AUD Billion), 2011-2015
Table 57: Australia - Charge Card Transaction Values by Scheme (US$ Billion), 2011-2015
Table 58: Australia - Personal and Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
Table 59: Australia - Personal and Commercial Pay Later Card Transaction Values (AUD Billion), 2011-2020
Table 60: Australia - Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 2011-2020
Table 61: Australia - Number of Commercial Pay Later Cards in Circulation (Million), 2011-2020
Table 62: Australia - Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
Table 63: Australia - Commercial Pay Later Card Transaction Values (AUD Billion), 2011-2020
Table 64: Australia - Commercial Pay Later Card Transaction Values (US$ Billion), 2011-2020
Table 65: Australia - Card Fraud (AUD Million), 2011-2015
Table 66: Australia - Card Fraud (US$ Million), 2011-2015
Table 67: Australia - Number of Prepaid Cards in Circulation (Thousand), 2011-2020
Table 68: Australia - Prepaid Card Transaction Values (AUD Million), 2011-2020
Table 69: Australia - Prepaid Card Transaction Values (US$ Million), 2011-2020
Table 70: Australia - Merchant Acquiring Transaction Volumes (Billion), 2011-2020
Table 71: Australia - Merchant Acquiring Transaction Values (AUD Billion), 2011-2020
Table 72: Australia - Merchant Acquiring Transaction Values (US$ Billion), 2011-2020
Table 73: Australia - Acquirers' Transaction Volumes (Million), 2011-2015
Table 74: Australia - Acquirers' Transaction Values (AUD Billion), 2011-2015
Table 75: Australia - Acquirers' Transaction Values (US$ Billion), 2011-2015
Table 76: Australia - Retail Outlets and Card Accepting Merchants (Thousand), 2011-2020