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Australia Country Report

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  • Published Date: March 2018 – update available Q1 2020

A comprehensive overview of the cards, payments, consumer banking and merchant acquirer market in Australia.


  • Australia's retail banking and payments markets are dominated by the 'Big Four': Commonwealth Bank, Westpac, ANZ and National Australia Bank.
  • The country has one of the highest rates of household indebtedness in the world: the average household owes more than $150,000.
  • Australian credit cardholders are the highest spenders in the world. Billed volume per card reached $15,191 in 2017.
  • The credit cards industry is highly profitable thanks to the high spending, relatively high rollover rate and low loss rates on cards.
  • New interchange regulation has severely curtailed the 'companion card' market (whereby cardholders received an Amex card on the same account as their Visa or Mastercard credit card).
  • Eftpos, the domestic scheme, has traditionally dominated the debit cards market, but international networks now account for over half of debit card purchase volume. Visa and Mastercard have gained market share due to the rise of
  • contactless technology which they developed before Eftpos.
  • Acquirers are being forced to offer their merchants' least-cost routing on debit card transactions as the shift to Visa and Mastercard has increased costs for merchants.
  • Mobile payments are growing in popularity. However, Apple's dispute with several leading banks means that a sizeable proportion of the population needs to change banking provider or mobile operating system to access services.
  • Australia enabled real-time payments in January 2018: NPP (for 'New Payments Platform') allows business and consumers to create a PayID linked to a phone number or email address.

Australia Country Report Table of Contents

Demographics and Economy:
Outlines the key metrics and trends which influence the development of retail banking and payments in the country:

  • Population structure
  • Income
  • Mobile and internet use
  • Economic data

Retail Banking:
Explores the structure of the local banking system, its infrastructure and the leading players. Data includes:

  • Aggregate retail banking indicators
  • Bank branch, ATMs and POS terminals
  • The profitability of top banks

Consumer Finance:
Overview of consumer finance in the country. Categories analysed include:

  • Mortgage loans
  • Personal loans
  • Credit card loans
  • Vehicle loans

Credit Cards:
Industry-leading credit card coverage. We detail the past present and future of the industry through our data and commentary, including:

  • Market size split by consumer and commercial credit cards: number of cards, transaction volume, billed volume
  • Profit pool analysis
  • Competitive landscape: networks, issuers

Debit Cards:

  • Market size: number of cards, transaction volume, billed volume
  • Competitive landscape: networks, issuers

Prepaid Cards:

  • Market size: number of cards, transaction volume, billed volume


Available for 72 markets, Verisk Financial Research Country Reports deliver invaluable market and competitor intelligence on payments cards, e-money, acquiring/processing, retail banking, and consumer credit. A dedicated team of analysts and researchers use both primary and secondary source data and conduct in-depth interviews with senior industry executives and experts.

See more Asia-Pacific Country Reports or explore the full range of Verisk Financial Research Country Reports.

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