Payments Down Under - Australia's Leading Examples - ResearchAndMarkets.com

DUBLIN--()--The "Payments Down Under: Australia's Leading Examples" report has been added to ResearchAndMarkets.com's offering.

Australia is leading innovation in areas such as contactless payments, bill payments, digital commerce, and point-of-sale applications, and the market is ready to make the next transformation with the start of the New Payments Platform in October this year. The Reserve Bank of Australia was one of the first regulators to introduce interchange fee regulation back in 2003, and regulators around the world have since introduced interchange regulation following the Australian example. Can an assessment of today's Australian market offer an idea of what is in store for payment markets in other geographies?

Based on conversations with representatives from leading banks, fintech companies, public authorities, and industry associations, this report surveys the Australian payments market for key trends and initiatives.

Impact Points:

  • The Australian payment mix is shifting heavily toward electronic payments. Consumers are continuing to switch to electronic payment methods from paper-based methods - cash and checks - for their purchases. The dominant payment method in Australia is cards; more than 50% of consumer payments in 2016 were made with cards.
  • The fast-increasing use of contactless card payments, the development of new digital cash substitutes, such as mobile P2P payments, and the high adoption of smartphones (89% in 2016) position Australia as a firm candidate for a cashless society. It is certainly possible that the country can make the turnaround to a contracting cash demand, following the example of the Scandinavian countries, within the foreseeable future.

Key Topics Covered:

  1. Impact Points
  2. Introduction
  3. Methodology
  4. The Australian Payments Market
  5. Australian Banking - a Profitable Undertaking
  6. The Economics of Payments
  7. Organization and Self-Regulation of the Australian Payments Market
  8. Trends in the Australian Payment Mix
  9. Cards - Regulated, But Still Going Strong
  10. Cash - No Longer King, But Still Very Much Alive
  11. Checks - Volume is Declining Rapidly
  12. Bill Payment
  13. Direct Entry
  14. Driving Innovation
  15. Mobility of Payments
  16. Instant Payments (NPP)
  17. Open Access to Bank Data
  18. Growing Cross-Border Commerce With China
  19. Conclusion

Companies Mentioned

  • Aevi
  • Airwallex
  • Alibaba Group
  • Alipay
  • American Express
  • Apple
  • Australia and New Zealand Banking Group (ANZ)
  • Australian Payments Network
  • BlueSnap
  • Citibank
  • Commonwealth Bank of Australia (CBA)
  • Cuscal
  • Diners Club
  • EFTPOS
  • ePAL
  • EY
  • Ezypay
  • Fabric.io
  • Fintech Australia
  • FirstData
  • FIS
  • Mastercard
  • MobilePay
  • National Australia Bank (NAB)
  • Rambus
  • Reserve Bank of Australia (RBA)
  • RoyalPay
  • Samsung
  • SWIFT
  • Tyro
  • UnionPay
  • Verifone
  • Visa
  • Westpac

For more information about this report visit https://www.researchandmarkets.com/research/3pgw96/payments_down?w=4.

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Mobile and Contactless Payments

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Mobile and Contactless Payments