This overview was first published in ‘eCommerce Insights and Trends Snapshot: Australia’, an eBook produced in association with our partner ACI Worldwide – and based on data from ACI Worldwide. Download your free copy of the eBook below to gain access to a comprehensive analysis of the insights that matter most when measuring the size and type of opportunities in the ecommerce market in Australia.
The range of payment methods available to Australians has expanded in recent years, currently including credit cards, debit cards, BNPL, e-wallets, and account-to-account payments, in addition to cash and checks. One of the payment methods that became increasingly popular among consumers is represented by digital wallets: from March 2020 to March 2021, the number of monthly digital wallet transactions increased from 36 million to 68 million, and the total value of digital wallet transactions grew from AUD 1 billion to AUD 2.1 billion.
The demand for convenience and simplicity in ecommerce grew stronger across all demographics, highlighting the importance of payment modernisation in order to seamlessly serve online shoppers. As a result, another payment method that gained more ground among Australians, particularly millennials, is BNPL – with Afterpay, Zip, and Klarna being some of the prominent providers of this payment method, according to a survey carried out by GlobalData in 2022.
Credit or charge card: 14.9%
PayPal: 13.4%
Bank transfer: 12.5%
Debit card: 11.4%
Apple Pay: 8.7%
Afterpay: 8.5%
Prepaid voucher: 5.1%
Android Pay/Google Pay: 4.7%
Cash or cheque: 4.7%
Other: 3.9%
Klarna: 3.3%
Samsung Pay: 2.2%
POLi: 2.1%
Prepaid card: 1.8%
ZIP: 1.1%
Openpay: 1.1%
Click to pay: 0.6%
Source for payment methods breakdown: eCommerce Insights and Trends Snapshot: Australia