This report provides up-to-date information and analysis of the key indicators that will impact the Australian payment cards market and its development through to 2013.
The Australian payment cards market without doubt has reached its saturation point, where future growth will rely on increasing the intensity of payment card usage among users. The penetration of payment cards in Australia is already high and remains relatively high compared to many other countries.
FEATURES AND BENEFITS
- Providing the latest data, the report focuses on key metrics such as card transaction values, balances, and card numbers.
- Includes detailed analysis of macro-economic indicators and how these factors will affect the card market through to 2013.
- By using the latest available market data the report offers in-depth analysis of likely forecast scenarios through to 2013.
- Includes detailed analysis of Australian regulatory changes, their impacts on issuers and consumers, and how issuers should adapt.
- While the credit card sector is struggling to maintain momentum, debit cards have proven to be resilient during the post global financial crisis era and the sector is expected to perform well in years to come. Overall, the Australian credit card market is expected to recover from a slow year in 2011, to face stronger growth to 2013.
- The future growth of Australian payment cards is likely to rely on low value payments, with the objective to displace the use of cash as consumers' primary way to pay at the POS. According to Datamonitor's Financial Services Consumer Insight Survey, 70% of consumers are still using cash for retail transactions with a value of less than A$20.
- New forms of alternative electronic payments will keep pushing a further reduction in consumer demand to withdraw cash from ATMs. While ATM use will not disappear, usage will likely continue to decline in the mid-term.
YOUR KEY QUESTIONS ANSWERED
- How is Australia recovering from the global financial crisis? How has the cards market changed as a result?
- What are the key drivers impacting growth through to 2013?
- How have card balances, write offs, and transaction values changed since the global financial crisis?
- How will the card market perform in 2012 and 2013?
- What impact will new regulation have on consumers and issuers?