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PROSPECTS AND OPPORTUNITIES
Value of debit card transactions to notably rise as spending improves
Consumer spend is expected to rise more strongly over the forecast period as inflationary pressures and the cost of living starts to ease, which will boost the value of transactions made through debit cards. Although debit card spend has notably slowed in 2024, it is still the primary payment method for the majority of Australian consumers – a combination of the rapid decline of cash usage during the pandemic and high levels of credit card debt cautioning consumers from overspending on their cards.
Trend of ethical living an opportunity for smaller banks as consumers look for “cleaner” investment options
While the major banks dominate in the local market, there are some areas of opportunity for smaller players to start gaining share of debit card holders and transactions. Australians are becoming increasingly conscious of how they spend their money – they want to support ethical and sustainable causes.
Australian government plans to regulate surcharges on card payments
Surcharges on card payments in Australia are on the rise and according to a report from Tyro, a payments acceptance provider, this has been the case since early 2023. Tyro’s report also shows that the top three industries most likely to have a surcharge on card payments are hospitality, services and retail.
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Overview:
Understand the latest market trends and future growth opportunities for the Debit Card Transactions industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Debit Card Transactions industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Debit Card Transactions in Australia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Debit Card Transactions in Australia?
- What are the major trends key to understanding Debit Card Transactions in Australia?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Charge Cards in Australia - Category analysis
Charge Cards in Australia - Company Profile
KEY DATA FINDINGS
Rising usage of charge cards despite decline in number of new cards
Diners Club exits market, leaving American Express as main provider of charge cards in Australia
Charge cards is mature with no competition and limited innovation
Steady growth predicted for charge cards over forecast period, driven by commercial segment
Number of charge cards in circulation set to decline
Travel-focused benefits of charge cards key for usage
Table 1 Charge Cards: Number of Cards in Circulation 2019-2024
Table 2 Charge Cards Transactions 2019-2024
Table 3 Charge Cards in Circulation: % Growth 2019-2024
Table 4 Charge Cards Transactions: % Growth 2019-2024
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2019-2024
Table 6 Commercial Charge Cards Transactions 2019-2024
Table 7 Commercial Charge Cards in Circulation: % Growth 2019-2024
Table 8 Commercial Charge Cards Transactions: % Growth 2019-2024
Table 9 Personal Charge Cards: Number of Cards in Circulation 2019-2024
Table 10 Personal Charge Cards Transactions 2019-2024
Table 11 Personal Charge Cards in Circulation: % Growth 2019-2024
Table 12 Personal Charge Cards Transactions: % Growth 2019-2024
Table 13 Charge Cards: Number of Cards by Issuer 2019-2023
Table 14 Charge Cards: Number of Cards by Operator 2019-2023
Table 15 Charge Cards Payment Transaction Value by Issuer 2019-2023
Table 16 Charge Cards Payment Transaction Value by Operator 2019-2023
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2019-2023
Table 18 Commercial Charge Cards: Number of Cards by Operator 2019-2023
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2019-2023
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2019-2023
Table 21 Personal Charge Cards: Number of Cards by Issuer 2019-2023
Table 22 Personal Charge Cards: Number of Cards by Operator 2019-2023
Table 23 Personal Charge Cards Transaction Value by Issuer 2019-2023
Table 24 Personal Charge Cards Transaction Value by Operator 2019-2023
Table 25 Forecast Charge Cards: Number of Cards in Circulation 2024-2029
Table 26 Forecast Charge Cards Transactions 2024-2029
Table 27 Forecast Charge Cards in Circulation: % Growth 2024-2029
Table 28 Forecast Charge Cards Transactions: % Growth 2024-2029
Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2024-2029
Table 30 Forecast Commercial Charge Cards Transactions 2024-2029
Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2024-2029
Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2024-2029
Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2024-2029
Table 34 Forecast Personal Charge Cards Transactions 2024-2029
Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2024-2029
Table 36 Forecast Personal Charge Cards Transactions: % Growth 2024-2029
Credit Cards in Australia - Category analysis
Credit Cards in Australia - Company Profile
KEY DATA FINDINGS
Increasing use of credit cards as high cost of living impacts consumer behaviour
Some older Australians face difficulties in applying for credit cards
Outstanding credit card balance marginally declines as consumers focus on repaying debts
Number and value of personal credit transactions set to steadily grow as more consumers apply for a credit card
Tighter regulation for BNPL services makes credit cards a viable option for consumers
Commercial credit cards set to grow as number of new businesses rises
Table 37 Credit Cards: Number of Cards in Circulation 2019-2024
Table 38 Credit Cards Transactions 2019-2024
Table 39 Credit Cards in Circulation: % Growth 2019-2024
Table 40 Credit Cards Transactions: % Growth 2019-2024
Table 41 Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 42 Commercial Credit Cards Transactions 2019-2024
Table 43 Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 44 Commercial Credit Cards Transactions: % Growth 2019-2024
Table 45 Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 46 Personal Credit Cards Transactions 2019-2024
Table 47 Personal Credit Cards in Circulation: % Growth 2019-2024
Table 48 Personal Credit Cards Transactions: % Growth 2019-2024
Table 49 Credit Cards: Number of Cards by Issuer 2019-2023
Table 50 Credit Cards: Number of Cards by Operator 2019-2023
Table 51 Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 52 Credit Cards Payment Transaction Value by Operator 2019-2023
Table 53 Commercial Credit Cards: Number of Cards by Issuer 2019-2023
Table 54 Commercial Credit Cards: Number of Cards by Operator 2019-2023
Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2019-2023
Table 57 Personal Credit Cards: Number of Cards by Issuer 2019-2023
Table 58 Personal Credit Cards: Number of Cards by Operator 2019-2023
Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 60 Personal Credit Cards Payment Transaction Value by Operator 2019-2023
Table 61 Forecast Credit Cards: Number of Cards in Circulation 2024-2029
Table 62 Forecast Credit Cards Transactions 2024-2029
Table 63 Forecast Credit Cards in Circulation: % Growth 2024-2029
Table 64 Forecast Credit Cards Transactions: % Growth 2024-2029
Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2024-2029
Table 66 Forecast Commercial Credit Cards Transactions 2024-2029
Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2024-2029
Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2024-2029
Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2024-2029
Table 70 Forecast Personal Credit Cards Transactions 2024-2029
Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2024-2029
Table 72 Forecast Personal Credit Cards Transactions: % Growth 2024-2029
Debit Cards in Australia - Category analysis
Debit Cards in Australia - Company Profile
KEY DATA FINDINGS
Rising number of debit cards in circulation but retail value growth slows as consumers grow cautious with their spending
Value lost to fraud continues to rise, creating new opportunities for financial service providers
Limited competition in debit card space as major banks continue to dominate
Value of debit card transactions to notably rise as spending improves
Trend of ethical living an opportunity for smaller banks as consumers look for “cleaner” investment options
Australian government plans to regulate surcharges on card payments
Table 73 Debit Cards: Number of Cards in Circulation 2019-2024
Table 74 Debit Cards Transactions 2019-2024
Table 75 Debit Cards in Circulation: % Growth 2019-2024
Table 76 Debit Cards Transactions: % Growth 2019-2024
Table 77 Debit Cards: Number of Cards by Issuer 2019-2023
Table 78 Debit Cards: Number of Cards by Operator 2019-2023
Table 79 Debit Cards Payment Transaction Value by Issuer 2019-2023
Table 80 Debit Cards Payment Transaction Value by Operator 2019-2023
Table 81 Forecast Debit Cards: Number of Cards in Circulation 2024-2029
Table 82 Forecast Debit Cards Transactions 2024-2029
Table 83 Forecast Debit Cards in Circulation: % Growth 2024-2029
Table 84 Forecast Debit Cards Transactions: % Growth 2024-2029
Pre-Paid Cards in Australia - Category analysis
Pre-Paid Cards in Australia - Company Profile
KEY DATA FINDINGS
Transportation cards help drive growth of closed loop due to slow rollout of debit card payments for public transport
Regular return to the office helps support usage
Challenges for open loop pre-paid cards linked to gifting and travel
Closed loop to help drive steady demand for pre-paid cards
Future transportation developments within pre-paid cards
Despite setbacks, pre-paid travel cards offer opportunities
Table 85 Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 86 Pre-paid Cards Transactions 2019-2024
Table 87 Pre-paid Cards in Circulation: % Growth 2019-2024
Table 88 Pre-paid Cards Transactions: % Growth 2019-2024
Table 89 Closed Loop Pre-paid Cards Transactions 2019-2024
Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 91 Open Loop Pre-paid Cards Transactions 2019-2024
Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 93 Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 94 Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 95 Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 96 Pre-paid Cards Transaction Value by Operator 2019-2023
Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 98 Closed Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 99 Closed Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 100 Closed Loop Pre-paid Cards Transaction Value by Operator 2019-2023
Table 101 Open Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 102 Open Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 103 Open Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 104 Open Loop Pre-paid Cards Transaction Value by Operator 2019-2023
Table 105 Forecast Pre-paid Cards: Number of Cards in Circulation 2024-2029
Table 106 Forecast Pre-paid Cards Transactions 2024-2029
Table 107 Forecast Pre-paid Cards in Circulation: % Growth 2024-2029
Table 108 Forecast Pre-paid Cards Transactions: % Growth 2024-2029
Table 109 Forecast Closed Loop Pre-paid Cards Transactions 2024-2029
Table 110 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2024-2029
Table 111 Forecast Open Loop Pre-paid Cards Transactions 2024-2029
Table 112 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2024-2029
Store Cards in Australia - Category analysis
Store Cards in Australia - Company Profile
KEY DATA FINDINGS
Stagnation for store cards in an extremely competitive payment landscape
Wide range of payment methods gives consumers flexibility
Restrictive nature of store cards to limit growth potential with changing attitudes towards loyalty
Co-branded credit cards a more attractive route for store card providers
Table 113 Store Cards: Number of Cards in Circulation 2019-2024
Table 114 Store Cards Transactions 2019-2024
Table 115 Store Cards in Circulation: % Growth 2019-2024
Table 116 Store Cards Transactions: % Growth 2019-2024
Table 117 Store Cards: Number of Cards by Issuer 2019-2023
Table 118 Store Cards: Payment Transaction Value by Issuer 2019-2023
Table 119 Forecast Store Cards: Number of Cards in Circulation 2024-2029
Table 120 Forecast Store Cards Transactions 2024-2029
Table 121 Forecast Store Cards in Circulation: % Growth 2024-2029
Table 122 Forecast Store Cards Transactions: % Growth 2024-2029
Financial Cards and Payments in Australia - Industry Overview
Financial cards and payments in 2024: The big picture
Growth in online shopping reflected in shift towards payments made with no card holder present
Public transport ticketing developments to give consumers greater flexibility in how they pay
Competitive landscape
What next for financial cards and payments?
Table 123 Number of POS Terminals: Units 2019-2024
Table 124 Number of ATMs: Units 2019-2024
Table 125 Value Lost to Fraud 2019-2024
Table 126 Card Expenditure by Location 2024
Table 127 Financial Cards in Circulation by Type: % Number of Cards 2019-2024
Table 128 Domestic versus Foreign Spend 2024
Table 129 Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 130 Financial Cards by Category: Number of Accounts 2019-2024
Table 131 Financial Cards Transactions by Category: Value 2019-2024
Table 132 Financial Cards by Category: Number of Transactions 2019-2024
Table 133 Consumer Payments by Category: Value 2019-2024
Table 134 Consumer Payments by Category: Number of Transactions 2019-2024
Table 135 M-Commerce by Category: Value 2019-2024
Table 136 M-Commerce by Category: % Value Growth 2019-2024
Table 137 Financial Cards: Number of Cards by Issuer 2019-2023
Table 138 Financial Cards: Number of Cards by Operator 2019-2023
Table 139 Financial Cards: Card Payment Transactions Value by Operator 2019-2023
Table 140 Financial Cards: Card Payment Transactions Value by Issuer 2019-2023
Table 141 Forecast Financial Cards by Category: Number of Cards in Circulation 2024-2029
Table 142 Forecast Financial Cards by Category: Number of Accounts 2024-2029
Table 143 Forecast Financial Cards Transactions by Category: Value 2024-2029
Table 144 Forecast Financial Cards by Category: Number of Transactions 2024-2029
Table 145 Forecast Consumer Payments by Category: Value 2024-2029
Table 146 Forecast Consumer Payments by Category: Number of Transactions 2024-2029
Table 147 Forecast M-Commerce by Category: Value 2024-2029
Table 148 Forecast M-Commerce by Category: % Value Growth 2024-2029
DISCLAIMER
Summary 1 Research Sources
The following categories and subcategories are included:
Debit Card Transactions
- Commercial Debit Card Transactions
- Personal Debit Card Transactions
Debit Card Transactions
Debit cards merge the functionality of both an ATM card and direct payment from a bank account (a check substitute in some markets). A debit card allows the cardholder to receive cash and monitor account activity at an ATM machine, as well as pay for goods and services via a point-of-sale terminal. A debit card payment transaction involves the automatic withdrawal of funds from the cardholder’s demand deposit bank account (checking or giro). Since the funds are removed from a bank account, no interest is charged on payments. Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.
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This report originates from Passport, our Debit Card Transactions research and analysis database.
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