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New Zealand Country Report

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  • Published Date: June 2019

A comprehensive overview of the cards, payments and consumer banking market in New Zealand.

What you will learn from this New Zealand card payments report

  • What has been opening the way for international schemes
  • What is driving New Zealand credit cards profitability
  • Which regulatory moves are impacting the market
  • How New Zealanders, with Open Banking imminent, are using payments methods


  • New Zealand has long been one of the most advanced electronic payments markets in the world. Cash use is low, and consumers are quick to embrace new technology.
  • TheNew Zealand payment cards market is well established with strong consumer penetration and merchant acceptance.
  • Payment cards are the primary payment method in the country. New Zealand is one of the global leaders in card transactions, with over 400 transactions per adult in 2018.
  • Contactless has contributed to increased card use but has also led to increased charges for merchants.
  • Merchants must pay merchant service charges for contactless transactions but not for chip or magnetic stripe transactions with debit cards.
  • Retail banking, consumer finance and payments in New Zealand are largely controlled by four Australian-owned banks: Westpac, Auckland Savings Bank (ASB), Australia and New Zealand Banking Group (ANZ) and Bank of New Zealand (BNZ).
  • State-owned Kiwibank has increased its market share in recent years by leveraging New Zealand Post's extensive distribution network and running marketing campaigns which highlight its domestic ownership structure.
  • Competition in theNew Zealand payments market is set to intensify with the launch of Open Banking, which allows non-banks live access to bank systems in order to provide tailored payment services to consumers.
  • New Zealand is one of the most profitable credit cards markets in the world. Credit quality is high, while fees and charges are not heavily regulated.
  • Issuers tend to take a segmented approach to credit cards: rewards cards, no-frills cards and balance transfers are key competitive products.

New Zealand Payments Research | Report Contents

Key Topics
Demographics and the economy
Payments environment
Cards market
Mobile payments
Profit pool
The networks
Key retail banks and issuers
Acquiring and processing
Online acquiring
Regulatory and other cards market information

Appendices: Data

Appendix I: Demographics and the economy

  • Demographic and economic indicators
  • Ownership of key consumer devices
  • Internet usage by population

Appendix II: Payments environment

  • Access points
  • Account penetration
  • Consumer payment trends
  • B2C e-commerce payment methods

Appendix III: Cards market

  • Total cards payment metrics
  • Contactless cards metrics
  • Credit card numbers
  • Total credit cards metrics
  • Credit cards profitability indicators
  • Debit cards numbers
  • Debit cards metrics
  • Appendix IV: Mobile payments
  • Mobile proximity payment metrics
  • Mobile P2P payments

Appendix V: Profit pool

  • Profit pool

Appendix VI: The networks

  • Networks' credit card market shares
  • Networks' credit card numbers
  • Networks' credit card billed volume
  • Networks' number of credit card transactions
  • Networks' average credit card transaction value
  • Credit card interchange fees by network
  • Networks' debit card market shares
  • Networks' debit card numbers
  • Networks' debit card billed volume
  • Networks' number of debit card transactions
  • Networks' average debit card transaction value
  • Debit card interchange fees by network

Appendix VII: Retail banks and issuers

  • Key credit card issuers market shares by credit card numbers
  • Key issuers market shares in credit card outstandings
  • Key debit card issuers market shares by debit card numbers

Appendix VIII: Acquiring and processing

  • Merchant acquirer credit card market share
  • Credit card merchant service charges
  • Merchant acquirer debit card market share
  • Debit card merchant service charges
  • Credit card issuer/issuing processor relationships
  • Credit card acquirer/acquiring processor relationships
  • Credit card issuing processor market shares by card numbers
  • Credit card acquiring processor market shares by the number of POS transactions

Appendix IX: Online acquiring

  • Online merchant acquirer market share

New Zealand Payments Trends | Entities Referenced

AfterPay Air New Zealand Alibaba Amazon American Express Android Pay ANZ API Apple Apple Pay Application Programming Interface ASB Auckland Savings Bank Australia and New Zealand Banking Group Bank of New Zealand BankDirect BNZ Burger King CCCFA CECS Citi Commonwealth Bank of Australia Consumer Electronic Clearing System Co-operative Bank Credit Union Central Datacom Diners Club EFTPOS EFTPOS NZ Electronic Transaction Services Farmers Financial Markets Authority First Credit Union FlexiGroup New Zealand Fly Buy Gem Finance GFG Group Google GrabOne Hotpoints HSBC Ingenico ISO 20022 Kiwibank Latitude Financial Laybuy Nelson Building Society New Zealand Post New Zealand Wine Society Open Banking Open Payments Enabled Network Oxipay Partpay Paymark Paymate Payments Direction Payments NZ PayPal Poli Pay Qantas Rabobank RBNZ Reserve Bank of New Zealand Retail NZ Samsung Pay SBI SBS Bank Settlement Before Interchange system Stripe The Warehouse Group Trade Me True Rewards TSB TWG UnionPay Verifone Wellington regional government Westpac Westpac Merchant Services World Bank


Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in the Asia Pacific region. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and finance experts.

See more Asia-Pacific Country Reports or explore the full range of cards and payments reports available for 72 markets worldwide.

To find out more or to discuss subscription options, please email: research_enquiries@verisk.com or telephone: +44(0)20 7337 4200.