New Zealand card payments market to be valued $67.1b in 2026

On average, each NZ individual holds over three cards, GlobalData found.

New Zealand’s card payments market is expected to grow by a compound annual growth rate of 5% between 2022 and 2026 and reach $67.1b (NZ$98b) in 2026, according to forecasts by data and analytics company GlobalData.

Total value of card payments dropped 11.8% in 2020 due to the COVID-19 pandemic, and registered a slow growth of 1.1% in 2021 to reach $54.6b (NZ$79.7b).

ALSO READ: Buy Now, Pay Later firms' credit losses on the rise

Data from Payments NZ revealed that 62% rise in contactless card transactions between 2018 and 2020. The share of contactless payments in total card payments increased from 24% in 2018 to 39% in 2020.

As of 2021, each individual in New Zealand holds over three cards, according to Ravi Sharma, lead banking and payments analyst at GlobalData. Outside of cards, there is a rising preference for contactless payments in the country, Sharma further observed.

In contrast, ATM cash withdrawals have reduced by 20.9% and 5.9% in 2020 and 2021, respectively, a trend that is expected to continue in 2022.

Follow the link for more news on

New Zealand card payments

Also Read

OCBC teams up with Disneyto boost new customer growth in SEA

Vietnam’s debit card payments market to be worth $65.6b in 2028

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit