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Credit Card Issuance in Australia Industry Data and Analysis
The Credit Card Issuance industry has contracted as the number of cards issued and balances accruing interest have fallen. Issuers have faced significant competition from other forms of payment like debit cards and BNPL services. The monthly value of debit card transactions has continued to surpass the monthly value of credit card transactions thanks to initiatives like the Reserve Bank of Australia's (RBA) least-cost routing initiative. BNPL services have also gained popularity with younger consumers who constitute a significant market for online sellers. That's why revenue is set to weaken by an annualised 5.3% over the five years through 2024-25, to $7.6 billion. To compete with sophisticated competition, credit card issuers have beefed up their reward and referral programs and integrated online payment, service and customer acquisition platforms into their operations.
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What's included in this industry analysis
IBISWorld's research coverage on the Credit Card Issuance industry in Australia includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released October 2024.
About this industry
What's this industry report about?
The Credit Card Issuance industry in Australia operates under the ANZSIC industry code X0009. The industry issues credit and charge cards to businesses and consumers. These cards provide users with a line of credit to use for purchases or cash advances. Credit card balances roll over month to month and can be repaid in full or by instalment. Charge card balances must be paid in full each month. The cards are issued by financial institutions rather than directly by Visa or MasterCard, which only provide the transaction processing networks. Related terms covered in the Credit Card Issuance industry in Australia include big four, credit rating, credit limit and buy now pay later (bnpl).
What's included in this industry?
Products and services covered in Credit Card Issuance industry in Australia include No annual fee cards, Rewards cards and Low-interest cards.
What companies are included in this industry?
Companies covered in the Credit Card Issuance industry in Australia include Commonwealth Bank of Australia, NAB and Westpac.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Credit Card Issuance industry in Australia.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Credit Card Issuance industry in Australia.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Credit Card Issuance industry in Australia.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Credit Card Issuance industry in Australia. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Credit Card Issuance industry in Australia. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Credit Card Issuance industry in Australia. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Credit Card Issuance industry in Australia. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Credit Card Issuance industry in Australia.
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Frequently Asked Questions
What is the market size of the Credit Card Issuance industry in Australia in 2026?
The market size of the Credit Card Issuance industry in Australia is $7.6bn in 2026.
How many businesses are there in the Credit Card Issuance industry in Australia in 2024?
There are 128 businesses in the Credit Card Issuance industry in Australia, which has declined at a CAGR of 1.8 % between 2019 and 2024.
How may import tariffs affect the Credit Card Issuance industry in Australia?
The Credit Card Issuance industry in Australia is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Credit Card Issuance industry in Australia?
The Credit Card Issuance industry in Australia is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Credit Card Issuance industry in Australia grown or declined over the past 5 years?
The market size of the Credit Card Issuance industry in Australia has been declining at a CAGR of 5.3 % between 2019 and 2024.
What is the forecast growth of the Credit Card Issuance industry in Australia over the next 5 years?
Over the next five years, the Credit Card Issuance industry in Australia is expected to grow.
What are the biggest companies in the Credit Card Issuance industry in Australia?
The biggest companies operating in the Credit Card Issuance industry in Australia are Commonwealth Bank of Australia, NAB and Westpac
What does the Credit Card Issuance industry in Australia include?
No annual fee cards and Rewards cards are part of the Credit Card Issuance industry in Australia.
Which companies have the highest market share in the Credit Card Issuance industry in Australia?
The company holding the most market share in the Credit Card Issuance industry in Australia is Commonwealth Bank of Australia.
How competitive is the Credit Card Issuance industry in Australia?
The level of competition is high and increasing in the Credit Card Issuance industry in Australia.
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