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(MoneyNewsWire.Net, October 25, 2018 ) GlobalData’s "Payments Landscape in New Zealand: Opportunities and Risks to 2021", report provides detailed analysis of market trends in New Zealand's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debit, payment cards, and cheques during the review-period (2013-17e).
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 (2017-21f). It also offers information on the country's competitive landscape, including the 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 details of regulatory policy and recent changes in the regulatory structure.
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Scope:
- The uptake of contactless payments is gradually increasing in New Zealand, with banks offering various contactless payment options. In October 2017 ASB Bank partnered with Fitbit Pay, allowing its card holders to make contactless payments through the Fitbit Ionic smart watch. The service is an addition to its ASB Virtual mobile wallet. Similarly in December 2017, ANZ Bank partnered with Garmin Pay, allowing its card holders to make contactless payments via Garmin wearable devices. Additionally, the bank allows its card holders to make payments through other digital solutions such as Apple Pay, Google Pay, and Samsung Pay, in addition to its own mobile payment solution ANZ Mobile Pay. The increase in contactless adoption will drive growth in the payment card market.
- New Zealand’s buy-now pay-later service is gaining popularity. The service allows user to make payments for online or in-store purchases in interest-free instalments over four to six weeks. To use the service, customers are required to create an account with the service provider and link it with their preferred payment method, through which payments can be made. For instance, Australia-based payment solution provider Afterpay allows its users to make payments in four instalments on online and in-store purchases. In 2017, a number of PSPs including PartPay, Oxipay, and Laybuy launched this service in New Zealand.
- Alternative payments are gaining traction among New Zealanders with the emergence of a number of payment options, the most notable being Apple Pay in October 2016 and Android Pay in December 2016. Apple Pay enables users to make contactless in-store, in-app, and browser payments. In October 2017, Bank of New Zealand (BNZ) collaborated with Apple to become the second bank (after ANZ Bank) to offer Apple Pay to its customers. In December 2015, Visa launched its Visa Checkout online payment service in New Zealand, allowing consumers to make payments using just a username and password, without the need to disclose card details for each transaction. Other prominent payment solutions - including PayPal, POLi, and Masterpass - are also available in New Zealand.
This report provides top-level market analysis, information and insights into New Zealand's cards and payments industry, including –
- Current and forecast values for each market in New Zealand's cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including credit transfers, direct debit, cheques, and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis and payment methods.
- Analysis of various market drivers and regulations governing New Zealand's cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
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Reasons to buy:
- Make strategic business decisions, using top-level historic and forecast market data, related to New Zealand's cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in New Zealand's cards and payments industry.
- Assess the competitive dynamics in New Zealand's 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's cards and payments industry.
Companies Mentioned:
ANZ Bank
Westpac
ASB Bank
Kiwibank
Prezzy
Bank of New Zealand
EFTPOS
Visa
Mastercard
American Express
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