Press release
Australia Digital Payment Market 2025 | Worth USD 667.0 Billion by 2033
Base Year: 2024
Forecast Years: 2025-2033
Historical Years: 2019-2024
Market Size in 2024: USD 118.0 Billion
Market Forecast in 2033: USD 667.0 Billion
Market Growth Rate 2025-2033: 20.89%
Australia Digital Payment Market Overview
Australia's computerized installment advertise is encountering solid development, fueled by the far reaching utilize of smartphones, the surge in online shopping, and the rising ubiquity of peer-to-peer (P2P) installment apps and purchase presently, pay afterward (BNPL) administrations. The move toward cashless exchanges, combined with the integration of progressed innovations such as AI, biometrics, and tokenization, is encourage quickening appropriation and changing how shoppers and businesses oversee installments.
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Australia Digital Payment Market Trends and Market Drivers
Mobile Wallet Adoption:
The far reaching appropriation of smartphones has driven a sharp rise in portable wallet utilization over Australia. In October 2024 alone, Australians conducted over 500 million versatile wallet exchanges, producing to more than USD 20 billion. This surge highlights a definitive move toward computerized installment arrangements that offer buyers speedier, more secure, and more helpful ways to pay.
Decline in Cash Usage:
This computerized move has too contributed to a noteworthy decrease in cash utilization. Concurring to the Save Bank of Australia, the share of cash installments in in-person exchanges has halved-from 32% to fair 16% over the past three years-underscoring the developing customer inclination for computerized installment strategies.
Australia Digital Payment Market Segmentation:
1. By Component:
• Solutions
• Services
2. By Payment Mode:
• Bank Cards
• Digital Currencies
• Digital Wallets
• Net Banking
• Others
3. By Deployment Type:
• Cloud-based
• On-premises
4. By End Use Industry:
• BFSI
• Healthcare
• IT and Telecom
• Media and Entertainment
• Retail and E-commerce
• Transportation
• Others
5. By Region:
• New South Wales
• Victoria
• Queensland
• Western Australia
• South Australia
• Others
Browse Full Report with TOC & List of Figures:
https://www.imarcgroup.com/australia-digital-payment-market
Latest News and Developments in Australia's Digital Payments Market (Feb-Apr 2025)
April 2025 - Kept money Secures VibePay:
Kept money, co-founded by Australian Brad Goodall, procured UK-based VibePay to quicken worldwide selection of Pay by Bank administrations. This takes after its late-2024 procurement of Australian firm Waave and integration into Amazon Australia's checkout. The securing combines Banked's foundation with VibePay's AI-driven shopper instruments, advance cementing Australia's nearness in worldwide advanced installments development.
April 2025 - Fiserv Secures Squeeze Installments:
Worldwide fintech pioneer Fiserv procured Australian advanced installment facilitator Squeeze Installments to fortify its position in Australia and Unused Zealand. The move coordinating Pinch's innovation and group into Fiserv's environment, upgrading the speed and adaptability of administrations given to PayFacs, ISVs, BPSPs, ISOs, and endeavor clients.
Walk 2025 - Visa Dispatches B2B Coordinates Installments in Australia:
Visa collaborated with ANZ, Catch, HSBC, and Westpac to dispatch its Visa B2B Coordinates Installments arrangement. This inserted installment device, fueled by SAP's stage, points to streamline and robotize advanced B2B exchanges, moving forward operational productivity for Australian businesses and diminishing manual installment forms.
February 2025 - AMP Dispatches Computerized Keeping money for SMEs:
AMP presented a modern computerized keeping money benefit outlined for miniaturized scale and little businesses in Australia. Built on Starling Bank's Motor stage, the benefit incorporates Australia's to begin with charge cards without printed numbers and coordinates cashflow administration instruments. This advertising targets underserved trade proprietors, pointing to upgrade their advanced installment capabilities.
February 2025 - Backbase and MeaWallet Accomplice for Tokenisation:
Backbase and MeaWallet shaped a vital collusion to progress computerized installment security in Australia and Modern Zealand. Their joint dispatch of Mea Thrust Provisioning and Mea Card Information empowers quicker and more secure integration with advanced wallets like Apple Pay and Google Pay, making a difference banks and fintechs improve the client encounter.
Key Highlights of the Report:
1. Market Performance (2019-2024)
2. Market Outlook (2025-2033)
3. COVID-19 Impact on the Market
4. Porter's Five Forces Analysis
5. Strategic Recommendations
6. Historical, Current and Future Market Trends
7. Market Drivers and Success Factors
8. SWOT Analysis
9. Structure of the Market
10. Value Chain Analysis
11. Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Ask analyst for your customized sample:
https://www.imarcgroup.com/request?type=report&id=21969&flag=E
Contact Us
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No: (D) +91 120 433 0800
United States: +1-631-791-1145
About Us
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC's offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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