The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreNov 2019
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The government in Australia has directed the Australian Competition and Consumer Commission (ACCC) to investigate high international credit card purchases and foreign currency conversion fees and report back recommendations in 2019. Based on Euromonitor International’s travel system, Australians made nearly 20 million outbound departures in 2019 and are often stung by high fees charged by the banks.
Over the review period, trials for passengers in Sydney to use their contactless financial cards to pay for travel on public transportation were extended to trains and buses. Contactless payments using physical financial cards, smartphones or wearable devices have become synonymous with paying and the expansion of contactless payments will make the Sydney transport experience more convenient for locals and tourists.
Credit card issuers, with the big four banks and Citi at the forefront, are reportedly not doing enough to help customers avoid further debt, instead profiting from it amid interest rates as high as 23% per annum. Corporate regulator ASIC has claimed to have evidence that card issuers are avoiding warning customers about credit card repayment deadlines and actively encouraging them to accrue more debt through penalties and compound interest.
Apple Card, a new type of credit card, may become available in Australia, pending its performance in the US. It would become available in the country digitally and physically, with the latter version being made from titanium.
Kogan made news in late 2019 with the launch of one new cobranded credit card. Kogan is known as one of Australia’s premier internet retailers and its decision to offer a cobranded credit card signals its intention to continue to push into new services that further expand its relationship with customers.
American Express has announced it is reducing the fees it charges small businesses by up to one percentage point as part of its intensive expansion targeting the doubling of its Australian presence in two years. Since American Express’s arrival in Australia in 1954, this represents its largest operational extension.
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Discover the latest market trends and uncover sources of future market growth for the Credit Card Transactions industry in Australia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Credit Card Transactions industry in Australia, our research will save you time and money while empowering you to make informed, profitable decisions.
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Euromonitor’s industry reports, including Credit Card Transactions in Australia, originate from our database within our Consumer Finance market share and market size database
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.