Accept payments in Australia
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Australian Payment Market Overview
Australia offers a market notable for its growing youth population and an overall base of consumers that are willing to adopt a variety of emerging e-commerce techniques – from shopping via social media to paying in instalments with new businesses. E-commerce merchants must make sure they can provide simple, fast, seamless shopping to meet the needs of this sophisticated audience..
Payment Methods in Australia
Key Market Indicators in Australia
Banks in Australia
Mobile Carriers in Australia
Integrate Australian Payment Methods
Used in 52 percent of transactions and accounting for $17.2 billion of sales, cards represent Australia’s primary way to pay online. Debit cards are in far higher circulation than credit cards, at 1.9 per capita, compared with just 0.68 per capita for credit cards. While debit cards tend to be more common in most countries than credit cards, it should also be noted that Australia is a highly diverse country with a sizeable first-generation population from developing nations.
Nationwide schemes are emerging to facilitate faster payments. The New Payments Platform (NPP) launched in February 2018 was developed and continues to be run by 13 financial institutions, including Australia’s central Reserve Bank. It operates 24/7 and facilitates instant fund transfers between payer and payee.
|Region||Australia and Oceania|
|E-commerce market size||$33.1 billion|
|Internet penetration rate||87.8%|
|Mobile penetration rate||71%|
|Cellular technology standard||4G, 5G|
|Dual sim usage||2.41%|
|Popular mobile OS||iOS, Android|
|Big Mac Index||4.58|
|Average annual income||$48,360|