Australia Cards and Payments Market Share and Analysis to 2022


Based on the segment targeted, the demand and use of cards varies substantially. It must also be noted that large banks, particularly the domestic ones are making a precise effort for the consolidation and segmentation of the industry for the targeting of the most rapidly growing and profitable sectors. Retail and corporate segments are the major categories of the cards and payments market in the country. The segment of retail is further classified on the basis of demographics, psychographic level, and income. The corporate sector is further categorized on the basis of the size of enterprises into large, medium, and small enterprises.

Further, the focus of banks in the country is on mass markets. This is for the expansion of their penetration in the expanding cards and payments market in the country. This is being achieved through the targeting of very specific segments of customers. For consideration, banks are increasingly focusing on the provision of investment advice, cross sale of card products, and the provision of value adding services, in the case of corporate customers.

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Market Trends

In the recent decade, the cards and payments market in Australia has been through significant variations which have led to the improvisation of efficiency and a growth in competition in the digital payments market space. The marketing strategies applied by banks are more geared towards the premium and elite sectors of the market. Card issuers are also basing their strategies for the upgradation of the existing prepaid, credit, charge, and debit card holders instead of pursuing new customers. These organizations classify the retail segment in the basis of their spending pattern, income level, and age group, and further use this information for offering products, adopting marketing strategies and also for providing specific promotions for such target customers.

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Some of the dominating players in Australia Cards and Payments Market:

  • Commonwealth Bank
  • Westpac
  • ANZ
  • National Australia Bank
  • Bendigo and Adelaide Bank
  • Citibank
  • Coles
  • Woolworths
  • JetStar
  • Qantas
  • Visa
  • Mastercard
  • American Express
  • Diners Club

Geographical Segmentation

The Market in Australia is analysed geographically under the region of Asia Pacific, which includes the countries of Asia, China, Australia, among others. Australia is one of the fastest growing markets of the Cards and Payments market in this region.  The rapid development of e-commerce in the country combined with the growth in competition in the cards and payments scenario in the country, are expected to provide a boost to the market growth in Australia.

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