Emerging Opportunities in New Zealand's Cards and Payments Market: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Publisher Name :
Date: 25-Jan-2013
No. of pages: 96

Synopsis

The report provides market analysis, information and insights into New Zealand's cards and payments market, including:


  • Current and forecast values for each segment of New Zealand's cards and payments market including debit cards, credit cards, prepaid cards and charge cards

  • Comprehensive analysis of the industry’s market attractiveness and future growth areas

  • Analysis of various market drivers and regulations governing New Zealand's cards and payments market

  • Detailed analysis of the marketing strategies adopted for selling prepaid cards used by various bankers and other institutions in the market

  • Comprehensive analysis of consumer attitudes and their buying preferences for cards

  • Competitive landscape of New Zealand's cards and payments market


Summary

The cards industry as a whole grew moderately at a CAGR of 4.99% during the review period (2007–2012), primarily driven by the prepaid and debit card categories. The slow growth in the cards industry was mainly due to global economic crises as well as the ripple effects of the Christchurch earthquake that impacted the growth of major industries in the country. During the review period, debit cards occupied the largest share in the overall cards and payments industry, and recorded a CAGR of 6.48%. Prepaid cards grew at a CAGR of 5.82% in the same period. The overall card industry is expected to grow at a CAGR of 3.77% over the forecast period (2013–2017), driven primarily by the debit and prepaid cards categories, which are expected to grow at CAGRs of 3.92% and 4.53% respectively. The credit cards category is also expected to grow at a CAGR of 2.21% during the forecast period, while charge cards are expected to exhibit negative growth at a CAGR of -1.55%.

Scope


  • This report provides a comprehensive analysis of New Zealand's cards and payments market

  • It provides current values for New Zealand's cards and payments market for 2012 and forecast figures for 2017

  • It details the different macroeconomic, infrastructural, consumer and business drivers affecting New Zealand's cards and payments industry

  • It outlines the current regulatory framework in the industry

  • It details the marketing strategies used by various bankers and other institutions

  • It profiles the major banks in New Zealand's cards and payments market


Reasons To Buy


  • Make strategic business decisions using historic and forecast market data related to New Zealand's cards and payments market and each market within it

  • Understand the key market trends and growth opportunities within New Zealand's cards and payments market

  • Assess the competitive dynamics in New Zealand's cards and payments market

  • Gain insights into the marketing strategies used for selling various types of cards in New Zealand

  • Gain insights into key regulations governing New Zealand's cards and payments market


Key Highlights


  • The New Zealand cards and payments industry grew moderately both in value and volume terms during the review period. Over the forecast period it is expected to increase at a CAGR of 3.77% in volume terms, and 3.75% in value terms.

  • Greater use of debit, credit and prepaid cards for high-value retail purchases and international travel is expected to contribute to the growth in overall transaction value.

  • The growing market for online trade in New Zealand is one of the primary factors responsible for the expansion of the country’s cards and payments industry. The number of online shoppers in New Zealand increased from 1.4 million in 2010 to 2.0 million in 2012.

  • The growth in m-commerce has been enhanced by increased smartphone use in New Zealand. The increasing capabilities of smartphone devices, an exponential rise in mobile device applications and falling prices have been instrumental in driving m-commerce.

Emerging Opportunities in New Zealand's Cards and Payments Market: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Table Of Contents

1 Executive Summary

2 Market Attractiveness and Future Prospects of the Cards and Payments Industry

3 Analysis of Country Cards and Payments Market Drivers
3.1 Infrastructure Drivers
3.1.1 Multifunctional smartcard technology
3.1.2 Wider acceptance of EMV payments
3.1.3 Emergence of contactless technology
3.1.4 Touch2Pay service through Trusted Service Manager (TSM)
3.1.5 3-D Secure payments
3.1.6 Growing use of EFTPOS
3.1.7 POLi (Pay Online) Payment options
3.2 Business Drivers
3.2.1 E-commerce Dynamics
3.2.2 Growth in m-commerce
3.2.3 Growth in Travel and Tourism Industry
3.3 Economic Indicators
3.3.1 GDP growth rate
3.3.2 Stable inflation rate
3.3.3 Official cash rate
3.4 Card Fraud Statistics
3.5 Regulatory Framework
3.5.1 Oversight of payment systems
3.5.2 Interchange fee regulation
3.5.3 Electronic Transactions Act 2002
3.5.4 Anti-money laundering
3.5.5 Other security measures

4 Emerging Consumer Attitudes and Trends
4.1 Industry Segmentation and Targeting
4.2 Retail Segment
4.2.1 Cards targeted at outbound travel and tourism
4.2.2 Targeting New Zealand’s HNWI population
4.3 Corporate Segment
4.3.1 Business houses and functional departments
4.3.2 Agriculture / rural cards
4.4 Consumer Preference
4.4.1 Price
4.4.2 Service
4.4.3 Convenience
4.5 Online Buying Behaviour
4.6 Preferred Payment Methods

5 Competitive Landscape and Industry Dynamics
5.1 Market Share Analysis by Payment Channels
5.1.1 Credit transfer
5.1.2 Direct debit
5.1.3 Card payments
5.1.4 Check payments
5.2 Debit Cards
5.2.1 By bank
5.2.2 By scheme
5.3 Credit Cards
5.3.1 By bank
5.3.2 By scheme
5.4 Charge Cards

6 Strategies Adopted by Key Competitors
6.1 Market Entry Strategies
6.2 Marketing / Product Strategy
6.2.1 Credit cards
6.2.2 Debit cards
6.2.3 Prepaid cards
6.3 Pricing Strategies

7 Market Size and Growth Potential of Payment Card Industry
7.1 Market Share Analysis by Type of Card
7.2 Total Market Size and Forecast of Card Industry
7.2.1 Analysis by number of cards
7.2.2 Analysis by transaction value
7.2.3 Analysis by transaction volume
7.3 Debit Card Category Size and Forecast
7.3.1 Analysis by number of cards
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.3.4 Other key performance indicators
7.4 Prepaid Cards Category Size and Forecast
7.4.1 Analysis by number of cards
7.4.2 Analysis by segments – open and closed-loop cards
7.4.3 Analysis by transaction value
7.5 Charge Card Market Size and Forecast
7.5.1 Analysis by number of cards
7.5.2 Analysis by transaction value
7.5.3 Analysis by transaction volume
7.5.4 Frequency of use
7.6 Credit Card Market Size and Forecast
7.6.1 Analysis by number of cards
7.6.2 Analysis by transaction value
7.6.3 Analysis by transaction volume
7.6.4 Other key performance indicators

8 Company Profiles, Product, and Marketing Strategies
8.1 ANZ New Zealand
8.1.1 Strategies
8.1.2 Credit cards offered
8.1.3 Debit card offered
8.1.4 Prepaid card offered
8.2 Westpac New Zealand Ltd
8.2.1 Strategies
8.2.2 Credit cards offered
8.2.3 Debit cards offered
8.2.4 Prepaid cards offered
8.3 ASB Bank
8.3.1 Strategies
8.3.2 Credit cards offered
8.3.3 Debit cards offered
8.4 Kiwibank
8.4.1 Strategies
8.4.2 Credit cards offered
8.4.3 Debit cards offered
8.4.4 Prepaid cards offered

9 Appendix
9.1 Methodology
9.2 Definitions
9.3 Contact Us
9.4 About Timetric
9.4.1 Our approach
9.5 Services
9.6 Disclaimer

List Of Tables

Table 1: New Zealand Payment Channels by Number of Transactions (Million), 2008–2012
Table 2: New Zealand Cards Industry by Type of Card (Thousands), 2008–2017
Table 3: New Zealand Cards Industry Size by Volume (Thousands), 2008–2017
Table 4: New Zealand Cards Industry Size by Transaction Value (NZD Million), 2008–2017
Table 5: New Zealand Cards Industry Size by Transaction Value (US$ Million), 2008–2017
Table 6: New Zealand Cards Industry Size by Transaction Volume (Million), 2008–2017
Table 7: New Zealand Debit Card Category Size (Thousands), 2008–2017
Table 8: New Zealand Debit Card Category Size (NZD Million), 2008–2017
Table 9: New Zealand Debit Card Category Size (US$ Million), 2008–2017
Table 10: New Zealand Debit Card Category Size by Transaction Volume (Million), 2008–2017
Table 11: New Zealand Debit Card Category Size by Frequency of Use (Transaction/Card/Year),
Table 12: New Zealand Prepaid Card Category Size (Thousands), 2008–2017
Table 13:New Zealand Open-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Table 14: New Zealand Closed-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Table 15: New Zealand Prepaid Cards Category Size (NZD Million), 2008–2017
Table 16: New Zealand Prepaid Cards Category Size (US$ Million), 2008–2017
Table 17: New Zealand Charge Card Category Size (Thousands), 2008–2017
Table 18: New Zealand Charge Card Category Size (NZD Million), 2008–2017
Table 19: New Zealand Charge Card Category Size (US$ Million), 2008–2017
Table 20: New Zealand Charge Card Category Size by Transaction Volume (Million), 2008–2017
Table 21: New Zealand Charge Card Category Size by Frequency of Use (Transaction/Card/Year), 2008–2017
Table 22: New Zealand Credit Card Category Size by Volume (Thousands), 2008–2017
Table 23: New Zealand Credit Card Category Size by Transaction Value (NZD Million), 2008–2017
Table 24: New Zealand Credit Card Category Size by Transaction Value (US$ Million), 2008–2017
Table 25: New Zealand Credit Card Category Size by Transaction Volume (Million), 2008–2017
Table 26: New Zealand Credit Card Category Size by Frequency of Use, 2008–2017
Table 27: New Zealand Credit Card Category Size by Average Transaction Value (NZD), 2008–2017
Table 28: New Zealand Credit Card Category Size by Average Transaction Value (US$), 2008–2017
Table 29: Cards and Payments Key Definitions

List Of Figures

Figure 1: Current and Future Prospects of Various Cards in New Zealand
Figure 2: Growth Potential of the New Zealand Cards and Payments Industry by Area of Use
Figure 3: New Zealand Cards and Payments Industry Drivers
Figure 4: New Zealand Retail Industry Sales (NZD Million), 2008–2012
Figure 5: Monthly Frequency of Purchases made on Smartphones in New Zealand (%), 2012
Figure 6: Domestic and Outbound Expenditure on Travel and Tourism (NZD Billion), 2008–2012
Figure 7: GDP Growth Rate (%), 2010–2012
Figure 8: New Zealand Inflation (Annual Change of CPI) (%), 2010–2012
Figure 9: Change in Official Cash Rate (%), 2010–2012
Figure 10: New Zealand Card Fraud Statistics (NZD Million), 2008–2012
Figure 11: Overview of PCI Data Security Standards
Figure 12: PIN Entry Device Security Requirements
Figure 13: Payment Application DSS Requirements
Figure 14: New Zealand Cards and Payments Industry Segmentation by Card Type
Figure 15: New Zealand’s Total Outbound Travellers (Thousands), 2008–2012
Figure 16: Cards Offered to New Zealand’s Outbound Tourists
Figure 17: Cards Offered to HNWIs in New Zealand
Figure 18: Purchase Cards Offered in New Zealand
Figure 19: Rural Cards Offered in New Zealand
Figure 20: Consumer Preferences on Various Types of Cards in the Corporate and Retail Segments
Figure 21: Online Purchases in New Zealand (%), 2012
Figure 22:  Market Share of Top-10 Travel Websites in New Zealand by Percentage of Visits (%), 2012
Figure 23: Share Of Different Online Payment Options Through Smartphones in New Zealand (%), 2012
Figure 24: Share of Different Payment Channels in New Zealand (%), 2012
Figure 25: New Zealand Volume and Growth of Credit Transfer (Million), 2008–2012
Figure 26: New Zealand Volume and Growth of Direct Debit (Million), 2008–2012
Figure 27: Volume and Growth of Cards Payments in New Zealand (Million), 2008–2012
Figure 28: New Zealand Volume and Growth of Check Payment (Million), 2008–2012
Figure 29: New Zealand Debit Cards by Issuing Banks (%), 2011
Figure 30: New Zealand Debit Card Market Share by Scheme (%), 2011
Figure 31: New Zealand Credit Card Market Share by Bank (%), 2011
Figure 32: New Zealand Credit Card Market Share by Scheme (%), 2011
Figure 33: New Zealand Charge Card Market Share by Scheme (%), 2011
Figure 34: Market Entry Strategies of Foreign Banks in New Zealand, May 2012
Figure 35: New Zealand Marketing Strategies Based on Card Type
Figure 36: Co-branded Cards Offered in New Zealand
Figure 37: Travel Cards Offered in New Zealand
Figure 38: Daily Withdrawal Limit on Prepaid Cards at ATMs and EFTPOS in New Zealand by ANZ Bank
Figure 39: Credit Card Pricing Strategies from Various Service Providers
Figure 40: Debit Card Pricing Strategies from Various Service Providers
Figure 41: Prepaid Card Pricing Strategies from Various Service Providers
Figure 42: New Zealand Cards Industry by Type of Card (%), 2008–2017
Figure 43: New Zealand Cards Industry Size by Volume (Thousands), 2008–2017
Figure 44: New Zealand Cards Industry Size by Transaction Value (NZD Million), 2008–2017
Figure 45: New Zealand Cards Industry Size by Transaction Volume (Million), 2008–2017
Figure 46: New Zealand Debit Card Category Size (Thousands), 2008–2017
Figure 47: New Zealand Debit Card Category Size (NZD Million), 2008–2017
Figure 48: New Zealand Debit Card Category Size by Transaction Volume (Million), 2008–2017
Figure 49: New Zealand Debit Card Category Size by Frequency of Use (Transaction/Card/Year), 2008–2017
Figure 50: Debit Card Usage ATMs and POS Terminals (Thousands), 2008–2017
Figure 51: New Zealand Prepaid Card Category Size (Thousands), 2008–2017
Figure 52: New Zealand Open-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Figure 53: New Zealand Closed-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Figure 54: New Zealand Prepaid Cards Category Size (NZD Million), 2008–2017
Figure 55: New Zealand Charge Card Category Size (Thousands), 2008–2017
Figure 56: New Zealand Charge Card Category Size (NZD Million), 2008–2017
Figure 57: New Zealand Charge Card Category Size by Transaction Volume (Million), 2008–2017
Figure 58: New Zealand Charge Card Category Size by Frequency of Use (Transaction/Card/Year), 2008–2017
Figure 59: New Zealand Credit Card Category Size by Volume (Thousands), 2008–2017
Figure 60: New Zealand Credit Card Category Size by Transaction Value (NZD Million), 2008–2017
Figure 61: New Zealand Credit Card Category Size by Transaction Volume (Million), 2008–2017
Figure 62: New Zealand Credit Card Category Size by Frequency of Use, 2008–2017
Figure 63: New Zealand Credit Card Category Size by Average Transaction Value (NZD), 2008–2017

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