Quick question: Which country’s population spends more on their credit cards than any other country in the world? Ok, we’ll give you a clue. It’s a country in North America or Oceania (but it might not be where you expect).*
With an average internet penetration of 88%, and an ecommerce market worth nearly $350bn, North America and Oceania offer great opportunities for PSPs and merchants looking to expand. But according to the payment specialists at PPRO Group, in order to break into these markets, they need to understand local market dynamics, consumer preferences, and payment culture.
For example, did you know that 17% of online transactions in the US are completed with e-wallets, and that 78% of Australians own smartphones?
In fact, despite Oceania’s relative isolation from the world’s financial centres, Australia and New Zealand represent a highly lucrative market, due to a GDP per capita that is well above the global average, and an almost entirely banked population.
In its latest whitepaper, PPRO looks at online payment behaviours in populations among four major markets in North America and Oceania – Canada, the US, Australia and New Zealand – and provides vital statistics about online payments, including rates of financial inclusion, internet and smartphone penetration, and local payment preferences, so that merchants and PSPs can better understand what characterises these unique markets.
Click here to download your complimentary copy of the whitepaper.
*The answer to the question is Australia.
Whitepapers
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