AUSTRALIA | The Australian card payments market is projected to reach AUD1.1 trillion in 2025, growing at 6.3 percent compared to the previous year. This growth is driven by rising consumer spending and increasing preference for cashless transactions.
GlobalData’s report, “Australia Cards and Payments: Opportunities and Risks to 2028,” revealed that card payment value in Australia registered a growth of 7.2 percent in 2024, supported by a nearly 100 percent banked population and strong payment acceptance infrastructure.
“Australia’s payment card market is well developed with each individual holding over two cards along with the highest frequency of card payments in the Asia-Pacific region, which stands at 238 in 2024,” said Poornima Chinta, Senior Banking and Payments Analyst at GlobalData.
“Widespread adoption of contactless payments, growing preference for electronic payments, and the burgeoning ecommerce market are all contributing to this growth.”
A well-developed payment infrastructure, with strong POS terminal uptake, is also a major driver for the rise in card payments. The number of POS terminals per one million inhabitants in Australia rose from 36,012 in 2020 to 40,046 in 2025.
In addition to the traditional POS terminals, companies offer solutions to target SMEs. For instance, Fiserv launched its Clover POS solution in March 2025, explicitly targeting hospitality, service, and retail SMEs.
Debit card payments held a significant share of the total card payments market, accounting for 58.9 percent of the total payment value in 2024. The growing popularity of debit cards can be attributed to their convenience and the increasing consumer inclination to budget and manage expenses.
Credit and charge cards, on the other hand, accounted for the remaining 41.1 percent of the market's value in 2024. Consumer reluctance to take on credit-card debt and the growing uptake of BNPL solutions such as Afterpay and Klarna are threatening the credit and charge card market.
Contactless cards are also widely used in Australia, with strong penetration and awareness. Australian consumers and financial institutions alike have embraced the technology, and extensive acceptance infrastructure in the country is the major reason why these cards are so popular.
According to GlobalData’s 2024 Financial Services Consumer Survey, 77 percent of Australian respondents indicated having access to a contactless card and using it for payments.
“The Australian card payments market is expected to continue its upward growth trajectory driven by the convenience of electronic payments, widespread payment infrastructure, and the increased accessibility of contactless technology.”
The market is anticipated to increase at a compound annual growth rate of 5.2 percent between 2025 and 2029, reaching AUD1.4 trillion in 2029.
