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

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Oct 21, 2015, 04:38 ET

NEW YORK, Oct. 21, 2015 /PRNewswire/ -- Synopsis
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.

Summary
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

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.
Read the full report: http://www.reportlinker.com/p03116877-summary/view-report.html

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