2.4% CAGR for Aus­tralian pay­ments cards mar­ket

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The Re­search and mar­kets re­port titled ‘Aus­tralia Cards and Pay­ments Mar­ket Growth & Fore­cast to 2020’ pre­dicts the Aus­tralian pay­ment cards mar­ket to grow at 2.4% CAGR through 2020. In terms of num­ber of cards in cir­cu­la­tion, this mar­ket grew at 4.1% CAGR dur­ing 2012-2014. The credit card in cir­cu­la­tion is ex­pected to grow at 1.6% CAGR. Ris­ing banked pop­u­la­tion, grow­ing dis­pos­able in­comes, the ex­pan­sion of ATMS and POS ter­mi­nals and greater ac­cep­tance of pay­ment cards in Aus­tralia will gen­er­ate growth in the anal­y­sis pe­riod. Credit cards in Aus­tralia are pri­mar­ily used by con­sumers at POS ter­mi­nals for re­tail pur­chases rather than for cash with­drawals at ATMS. The fre­quency of credit card is ex­pected to reach upto 109.8 times by 2020.

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