Market Share of Australia Payments Industry
The Australian Payment market is fragmented, with a significant number of players in the market. However, a few large players in the market, such as PayU, occupy a considerable share of the market. The competitive rivalry in the market is high, with various players trying to increase their revenue. Players like Securepay are also trying to increase their share in the market. As such, the market players are undertaking various strategies such as enhancing the product portfolio, among various others. Moreover, the growing e-commerce industry is also encouraging the development of payment methods across the country.
May 2022 - Customers of National Australia Bank (NAB) can now pre-register for the new buy now, pay later (BNPL) service, as the bank aims to provide more financial flexibility to Australians. Customers can borrow up to USD 1,000, split purchases into four payments, and spend it everywhere Visa is accepted. They will be able to add NAB Now Pay Later to digital wallets and in-person transactions.
April 2022 - P97 Networks, a mobile commerce platform, has teamed up with Viva Energy Australia to develop a fleet management and driver app. The Shell Card Go app will offer fleet managers and drivers contactless mobile payments, allowing authorized drivers to pay for the fuel at Shell, Liberty, and Coles Express locations, as well as allowing users to find stations, view site details, and earn rewards, as well as easily access their transaction histories.
Australia Payments Market Leaders
Secure Pay
WorldPay
Pin Payments
2Checkout
Google Pay
*Disclaimer: Major Players sorted in no particular order
