New Zealand Cards and Payments: Opportunities and Risks to 2028

New Zealand Cards and Payments: Opportunities and Risks to 2028

Summary

GlobalData’s ‘New Zealand Cards and Payments: Opportunities and Risks to 2028' report provides detailed analysis of market trends in the New Zealand cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, direct debits, credit transfer, and card during the review-period (2020-24e).

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 (2024e-28f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘New Zealand Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the New Zealand cards and payments industry, including -

• Current and forecast values for each market in the New Zealand cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including cash, credit transfer, and card. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the New Zealand 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 the New Zealand cards and payments industry.

Key Highlights

• Growing adoption of contactless cards is driving the use of cards for payments. In June 2024, the Transport Ministry announced a plan to launch the National Ticketing Solution called the Motu Move in the Canterbury Region. The new payment system will allow users to pay for their public transport fared by contactless credit and debit cards, mobile wallets (such as Google Pay and Apple Pay), as well as a prepaid Motu Move card. The system will be launched in December 2024. This will be followed by Timaru Metro school buses in January 2025.
• Amid the rising adoption of contactless payments, payment solution providers are launching solutions that support this technology. For instance, in September 2024, Worldline launched its contactless payment technology in New Zealand. The service allows customers to make contactless payments at any EFTPOS terminal via phone using a stored, digital EFTPOS card. Worldline's digital EFTPOS solution stores customer data, including loyalty cards and identity verification information. Earlier in February 2023, the payment services provider Stripe launched Tap to Pay for Android devices; enabling merchants to use a compatible phone or tablet to receive contactless payments from customers.
• Online shopping events, such as Black Friday and Cyber Monday, have also played a significant role in this growth. In addition, the expansion of logistics services is aiding ecommerce growth. NZ Post, through its investment in the logistics operations company Supply Chain Solutions, provides end-to-end logistics and delivery support to ecommerce businesses. To capitalize on the growing ecommerce market, an increasing number of companies are launching online services. In May 2024, the Spanish ecommerce company Mango launched its ecommerce site in New Zealand. Similarly, in March 2024, the American clothing brand American Apparel launched its ecommerce platform in New Zealand.

Scope

• Card market size in terms of number of cards, value and volume of transactions in New Zealand along with detailed card segmentation of debit, credit and charge cards available in the country.
• Market sizing and analysis of major payment instruments including card, cash, direct debit, and credit transfer.
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the New Zealand cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the New Zealand cards and payments industry.
• Assess the competitive dynamics in the New Zealand 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 Zealand cards and payments industry.