New Zealand
Chart of the Week: NZ card payments to reach $75.1b by 2028
Chart of the Week: NZ card payments to reach $75.1b by 2028
The market is expected to grow at a compound annual growth rate of 4.1%.
Australia, NZ retail banks face tougher headwinds
Both loans and deposits will see increased competition.
Chart of the WeekL 1 in 2 e-commerce purchases in New Zealand use payment cards
Cash accounted for just 3% of all e-commerce payments.
Payment firm Nium now a registered financial service provider in New Zealand
It plans to offer virtual accounts, and debit and prepaid cards, amongst other services.
Card payments in New Zealand to grow 6.5% in 2023:GlobalData
It will reach about NZ$102.4b.
New Zealand banks to persevere amidst inquiry by Commerce Commission: S&P Global
The banks, Australia-owned, hold a total market share of 85%.
New Zealand picks Citi in banking services panel
Other new panel members are ANZ Bank and Westpac.
HSBC winding down wealth, personal banking business in New Zealand
The bank can no longer justify investing into this business, it said in a statement.
Chart of the Week: New Zealand’s BNPL market value to reach $1.2b in 2023
By 2026, the transaction value is expected to grow to $1.9b.
MUFG Bank signs BTNZ as first client for green deposits product in New Zealand
The funds are used for green loans in clean transportation and green development.
Alternative payments inch closer to e-commerce domination in New Zealand
The growth of BNPL has pushed up adoption of alternative payments.
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 to rebound 10.3% in 2021
The market is expected to top $83.2b in four years’ time.
New Zealand’s expected interest rate hike to raise banks’ profits: Fitch
However, its impact on earnings may take some time to rise as mortgages are not yet due.
New Zealand banks' profits drop 20.4% in Q1
Lending remained strong in Q1 but recorded dramatic plunges in April and May.
Chart of the Week: New Zealand card payments to grow 2.2% annually through 2023
The pandemic will slow card payments adoption as consumers switch to online payments.
New Zealand banks will still be profitable despite lockdown: S&P
The earlier announced fiscal measures should provide ample support to banks.
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