New Zealand Cards and Payments - Opportunities and Risks to 2025

New Zealand Cards and Payments - Opportunities and Risks to 2025

  • January 2022 •
  • 74 pages •
  • Report ID: 5972096 •
  • Format: PDF
New Zealand Cards and Payments - Opportunities and Risks to 2025

Summary
‘New Zealand Cards and Payments - Opportunities and Risks to 2025’ report provides detailed analysis of market trends in New Zealand cards and payments industry. It provides values and volumes for key performance indicators in the industry, including cash, cards, direct debits, cheques and credit transfers during the review-period (2017-21e). 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 (2021e-25f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes. The report brings together 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.

This report provides top-level market analysis, information and insights into New Zealand cards and payments industry, including -
- Current and forecast values for each market in New Zealand cards and payments industry, including debit, credit and charge cards.
- Detailed insights into payment instruments including cash, cards, direct debits, cheques and credit transfers. It also includes an overview of the country’s key alternative payment instruments.
- Ecommerce market analysis.
- Analysis of various market drivers and regulations governing New Zealand cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
- The competitive landscape of New Zealand cards and payments industry.

Scope
- To reduce the dependence on cash in the country, in March 2021 the Financial Supervisory Commission (FSC) announced a non-cash payment transaction measurement index, setting a target value of a 50% increase in the number of non-cash payment transactions by 2023 and aiming for transaction value of TWD6.0tn ($213.6bn). To achieve this, the FSC has established a working group to promote non-cash payment transactions and has continued to encourage the use of digital payment channels. Consequently, the volume, value, and frequency of card-based transactions are anticipated to increase further going forward.
- Alternative payment solutions are gaining traction in New Zealand. To capitalize on this, the dosh digital wallet and mobile payment app launched in New Zealand in October 2021. It allows users to make P2P payments via smartphone. Payments can be made either directly to a mobile number from the user’s contact list or by scanning a QR code generated by the recipient in the app. dosh allows users to instantly pay or be paid for transactions under $500. Users can add up to $1,000 to their dosh wallet. dosh works with all major banks in New Zealand, including BNZ, ASB, Westpac, ANZ, and Kiwibank.
- BNPL options are popular among New Zealand consumers. To benefit from this trend in May 2021, Klarna expanded into the New Zealand payment market. Klarna offers both immediate and pay-later options for ecommerce purchases, allowing customers to make payments after receiving the purchased items. Klarna offers an interest-free installment payment option, enabling customers to pay in three or four equal installments using a debit or credit card. It also offers an extended credit financing option through which users can make payments in monthly installments across up to 36 months.

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