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The Cards and Payments Industry in New Zealand: Emerging trends and opportunities to 2020

  • Published Date: 30 Dec 2016
  • Number of Pages: 49
  • Category: Finance and Banking
  • Country: New Zealand
The Cards and Payments Industry in New Zealand: Emerging trends and opportunities to 2020

Summary

GlobalDatas "The Cards and Payments Industry in New Zealand: Emerging trends and opportunities to 2020" report provides detailed analysis of market trends in the New Zealands cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, payment cards, direct debits, and cheques during the review-period (2012-16e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2016-20f). It also offers information on the countrys competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalDatas 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.

The report provides top-level market analysis, information and insights into the New Zealands cards and payments industry, including -
- Current and forecast values for each market in the New Zealands cards and payments industry, including debit, credit and charge cards.
- Detailed insights into payment instruments including credit transfers, cheques, direct debit, and payment cards. It also, includes an overview of the countrys key alternative payment instruments.
- E-commerce market analysis and payment methods.
- Analysis of various market drivers and regulations governing the New Zealands cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.

Scope

- Alternative payments are slowly gaining traction among New Zealanders with the emergence of a number of payment options, with the most notable launches being Apple Pay in October 2016 and Android Pay in December 2016. Apple Pay enables users to make in-store, in-app, and browser payments. Apple Pay can be used with iPhones and Apple watches by placing the device near the terminal, along with placing a finger on Touch ID. The wallet allows customers to make payments of up to $55.40 (NZD80) without using a PIN. In December 2015, Visa launched its Visa Checkout online payment service in New Zealand, allowing consumers to make payments with just a username and password, as opposed to giving credit card details and an expiry date for each transaction. Other alternative payment solutions - including PayPal, POLi, and Masterpass - are also available in New Zealand.
- Banks in New Zealand are focusing on innovation to improve services for individual and business customers. For instance, Westpac launched the Westpac One digital banking platform in February 2015. Westpac One can be used on smartphones, tablets, and desktop computers to apply for everyday banking products such as accounts, term deposits, home and personal loans, and credit cards. Similarly, in October 2015 ANZ updated its FastPay mobile banking app, which was initially launched in October 2013. The app allows business customers to process Visa, Mastercard, and EFTPOS transactions using smartphones. With ANZ FastPay, users can have more than one card reader, smartphone, or tablet linked to a single business account. The bank intends to extend the service to a wide range of businesses such as gardeners, plumbers, and personal trainers.
- Chinese students and tourists are the largest pool of overseas residents in New Zealand. To serve these consumers, ANZ started accepting UnionPay payment cards at its ATMs and POS terminals from January 2016. ANZ also became the first bank in the country to accept QuickPass, UnionPays contactless mobile payment (m-payment) service. Similarly, Industrial and Commercial Bank of China (New Zealand) offers a wide range of banking services to Chinese consumers in New Zealand, including bank accounts, remittance services, and dual-currency cards.

Reasons to buy

- Make strategic business decisions, using top-level historic and forecast market data, related to the New Zealands cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the New Zealands cards and payments industry.
- Assess the competitive dynamics in the New Zealands cards and payments industry.
- Gain insights into marketing strategies used for various card types in New Zealand.
- Gain insights into key regulations governing the New Zealands cards and payments industry.
Publisher Name : GlobalData

1. EXECUTIVE SUMMARY 3
1.1. Market overview 3
1.2. Key facts 4
1.3. Top five industry events 5
2. PAYMENT INSTRUMENTS 11
2.1. Current payment environment 11
3. E-COMMERCE AND ALTERNATIVE PAYMENTS 13
3.1. E-commerce market analysis 13
3.2. Alternative payment solutions 14
3.2.1. PayPal 14
3.2.2. goMoney Wallet 14
3.2.3. Visa Checkout 14
3.2.4. POLi 14
3.2.5. paysafecard 14
3.2.6. Masterpass 15
3.2.7. Apple Pay 15
3.2.8. Android Pay 15
4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 16
4.1. Regulatory framework 16
4.2. AML 16
4.3. FDI regulations 17
5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 18
6. PAYMENT CARDS 21
7. DEBIT CARDS 23
7.1. Debit card market analysis 23
7.2. Competition in the debit card market 25
7.3. Debit card comparison 27
8. PAY-LATER CARDS 28
8.1. Pay-later card market analysis 28
8.2. Competition in the pay-later card market 30
8.3. Pay-later card comparison 32
9. APPENDIX 33
9.1. Abbreviations and acronyms 33
9.2. Supplementary data 34
9.3. Definitions 44
9.4. Methodology 46
9.5. Bibliography 48
9.6. Further reading 48

List Of Tables


Table 1: New Zealand: key facts, 2016 4
Table 2: New Zealand: regional benchmarking of payment cards, 2016 4
Table 3: New Zealand: mode of entry of foreign banks 17
Table 4: New Zealand: debit card comparison and key features, 2016 27
Table 5: New Zealand: premium credit card comparison and key features, 2016 32
Table 6: New Zealand: charge card comparison and key features, 2016 32
Table 7: New Zealand: payment instrument transaction values (NZDbn), 2012-16e 34
Table 8: New Zealand: payment instrument transaction values ($bn), 2012-16e 34
Table 9: New Zealand: payment instrument transaction volumes (millions), 2012-16e 34
Table 10: New Zealand: payment cards in circulation by type (millions), 2012-20f 34
Table 11: New Zealand: volume of payment card transactions (millions), 2012-20f 35
Table 12: New Zealand: value of payment card transactions (NZDbn), 2012-20f 35
Table 13: New Zealand: value of payment card transactions ($bn), 2012-20f 35
Table 14: New Zealand: debit cards in circulation (millions), 2012-20f 35
Table 15: New Zealand: debit card transaction volumes, 2012-20f 36
Table 16: New Zealand: debit card transaction values (NZD), 2012-20f 36
Table 17: New Zealand: debit card transaction values ($), 2012-20f 36
Table 18: New Zealand: debit cards in circulation by scheme (000s), 2012-16e 37
Table 19: New Zealand: debit card transaction values by scheme (NZDbn), 2012-16e 37
Table 20: New Zealand: debit card transaction values by scheme ($bn), 2012-16 37
Table 21: New Zealand: debit card transaction values by issuer (NZDbn), 2012-16e 37
Table 22: New Zealand: debit card transaction values by issuer ($bn), 2012-16e 38
Table 23: New Zealand: pay-later cards in circulation (millions), 2012-20f 38
Table 24: New Zealand: pay-later card transaction volumes, 2012-20f 38
Table 25: New Zealand: pay-later card transaction values (NZD), 2012-20f 38
Table 26: New Zealand: pay-later card transaction values ($), 2012-20f 39
Table 27: New Zealand: pay-later cards in circulation by scheme (000s), 2012-16e 39
Table 28: New Zealand: pay-later card transaction values by scheme (NZDm), 2012-16e 39
Table 29: New Zealand: pay-later card transaction values by scheme ($m), 2012-16e 39
Table 30: New Zealand: pay-later card transaction values by issuer (NZDbn), 2012-16e 40
Table 31: New Zealand: pay-later card transaction values by issuer ($bn), 2012-16e 40
Table 32: New Zealand: credit cards in circulation (millions), 2012-20f 40
Table 33: New Zealand: credit card transaction volumes, 2012-20f 40
Table 34: New Zealand: credit card transaction values (NZD), 2012-20f 41
Table 35: New Zealand: credit card transaction values ($), 2012-20f 41
Table 36: New Zealand: credit cards in circulation by scheme (000s), 2012-16e 41
Table 37: New Zealand: credit card transaction values by scheme (NZDm), 2012-16e 41
Table 38: New Zealand: credit card transaction values by scheme ($m), 2012-16e 42
Table 39: New Zealand: charge cards in circulation (000s), 2012-20f 42
Table 40: New Zealand: charge card transaction volumes, 2012-20f 42
Table 41: New Zealand: charge card transaction values (NZD), 2012-20f 42
Table 42: New Zealand: charge card transaction values ($), 2012-20f 43
Table 43: New Zealand: charge cards in circulation by scheme (000s), 2012-16e 43
Table 44: New Zealand: charge card transaction values by scheme (NZDm), 2012-16 43
Table 45: New Zealand: charge card transaction values by scheme ($m), 2012-16e 43
Table 46: Key definitions 44

List Of Figures


Figure 1: New Zealand: payment instrument shares by transaction value (%), 2012 vs 2016 11
Figure 2: New Zealand: payment instrument shares by transaction volume (%), 2012 vs 2016 12
Figure 3: New Zealand: e-commerce value 13
Figure 4: New Zealand: population and economic indicators 18
Figure 5: New Zealand: ATMs, POS terminals, and household consumption 19
Figure 6: New Zealand: payment card transaction value and cards in circulation, 2012-20f 21
Figure 7: New Zealand: debit card penetration and turnover per card 23
Figure 8: New Zealand: debit card scheme and issuer transaction value shares, 2016 25
Figure 9: New Zealand: pay-later card penetration and turnover per card 28
Figure 10: New Zealand: pay-later card scheme and issuer transaction value shares, 2016 30

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