New Zealand : Payments Market is expected to double its market size in Upcoming Years

HTF Market Intelligence released a new research Study of 22 pages on title 'Payments Snapshot in New Zealand: Coronavirus (COVID-19) Sector Impact' with in-depth analysis, forecast and business moves. The study covers key regions that includes North America Country (United States, Canada), South America, Asia Country (China, Japan, India, Korea), Europe Country (Germany, UK, France, Italy), Other Country (Middle East, Africa, GCC) and important players.

Request a sample report @ https://www.htfmarketreport.com/sample-report/2606847-payments-snapshot-in-new-zealand

Summary
The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.

On March 17, 2020, New Zealand’s government approved a NZ$12.1bn ($8.16bn) economic package equivalent to 4% of the country’s GDP to support the economy and contain job losses. The package includes a NZ$5.1bn ($3.44bn) wage subsidy and NZ$500m ($337.23m) to support health services.

In an attempt to avoid contraction in the overall economy, on March 16 the Reserve Bank of New Zealand (RBNZ) reduced its official cash rate to 0.25% - a 75 basis points cut. The rate will be kept at 0.25% for at least one year according to the RBNZ.

View Detailed Table of Content @ https://www.htfmarketreport.com/reports/2606847-payments-snapshot-in-new-zealand

This report focuses on the impact of the Coronavirus outbreak on both the economyand the cards and payments industry in New Zealand. Based on our proprietary datasets, the snapshotprovides a detailed comparison between pre-COVID-19 forecasts andrevised forecasts of total payment card, debit card, and credit and charge card transactions by value and volume. It also offers information on measures taken by the government to combat Coronavirus.

Scope
- Coronavirus has had a profound effect on New Zealand’s tourism industry. Tourism is the country’s biggest export earner, contributing 21% of foreign exchange earnings and 5.8% of GDP while providing jobs to around 230,000 individuals. Chinese tourists have been barred from entering the country since February, resulting in significant lost revenue.
- While cash is likely to take a back seat in the short term, usage of contactless cards will grow. The temporary increase of the contactless payment limit from NZ$80 ($53.96) to NZ$200 ($134.89) will further boost digital payments.
- Retail customers and small businesses are especially vulnerable. Some of the relief measures offered by ASB Bank include a 90-day overdraft limit at a reduced annual interest rate of 2.95% and the ability to pay only interest on home loans for up to six months. Similarly, BNZ Bank is allowing personal loan repayment deferrals of up to six months.

Reasons to Buy
- Make strategic decisions using top-level revised forecast data on New Zealand's payment industry.
- Understand the key market trends, challenges, and opportunities in New Zealand's cards and payments industry.
- Receive a comprehensive insight into payments market in New Zealand.

Enquire for Customization Available @ https://www.htfmarketreport.com/enquiry-before-buy/2606847-payments-snapshot-in-new-zealand

Table of Contents
COVID-19 Update
Impact Assessment
Total Pay

Buy full copy of the report @ https://www.htfmarketreport.com/buy-now?format=1&report=2606847

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia or Oceania [Australia and New Zealand].

Contact US :
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA – 08837
Phone: +1 (206) 317 1218
sales@htfmarketreport.com

About Author:
HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the “Accurate Forecast” in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their “Goals & Objectives”.

This release was published on openPR.