Ken Research - Cards & Payments Industry in New Zealand | Seite 2

Analysis of various market drivers and regulations governing the New Zealand's cards and payments
industry.
Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and
charge cards.
Scope
Alternative payments are slowly gaining traction among New Zealanders with the emergence of a
number of payment options, with the most notable launches being Apple Pay in October 2016 and
Android Pay in December 2016. Apple Pay enables users to make in-store, in-app, and browser
payments. Apple Pay can be used with iPhones and Apple watches by placing the device near the
terminal, along with placing a finger on Touch ID. The wallet allows customers to make payments of up
to $55.40 (NZD80) without using a PIN. In December 2015, Visa launched its Visa Checkout online
payment service in New Zealand, allowing consumers to make payments with just a username and
password, as opposed to giving credit card details and an expiry date for each transaction. Other
alternative payment solutions-including PayPal, POLi, and Masterpass-are also available in New Zealand.
Banks in New Zealand are focusing on innovation to improve services for individual and business
customers. For instance, Westpac launched the Westpac One digital banking platform in February 2015.
Westpac One can be used on smartphones, tablets, and desktop computers to apply for everyday
banking products such as accounts, term deposits, home and personal loans, and credit cards. Similarly,
in October 2015 ANZ updated its FastPay mobile banking app, which was initially launched in October
2013. The app allows business customers to process Visa, Mastercard, and EFTPOS transactions using
smartphones. With ANZ FastPay, users can have more than one card reader, smartphone, or tablet
linked to a single business account. The bank intends to extend the service to a wide range of businesses
such as gardeners, plumbers, and personal trainers.
Chinese students and tourists are the largest pool of overseas residents in New Zealand. To serve these
consumers, ANZ started accepting UnionPay payment cards at its ATMs and POS terminals from January
2016. ANZ also became the first bank in the country to accept QuickPass, UnionPay's contactless mobile
payment (m-payment) service. Similarly, Industrial and Commercial Bank of China (New Zealand) offers
a wide range of banking services to Chinese consumers in New Zealand, including bank accounts,
remittance services, and dual-currency cards.
Key Topics Covered in the Report
New Zealand Cards & Payments Industry Research Report
New Zealand Cards & Payments Industry Forecast
New Zealand Cards & Payments Industry Revenue
New Zealand Cards & Payments Market Size
New Zealand Cards & Payments Market Future Outlook
New Zealand Cards & Payments Industry Analysis
New Zealand Cards & Payments Industry Opportunities