Payment methods in Australia

Oceania

14methods

22banks

E-commerce was worth US$43 billion in 2022 (16% of all retail) and is forecast to reach US$71 billion by 2027.

Market takeaways

E-commerce was worth US$43 billion in 2022 (16% of all retail) and is forecast to reach US$71 billion by 2027.
Cards are used in just 41% of online transactions; digital alternatives including BNPL, PayPal, and bank transfers dominate the rest.
The average Australian online shopper spends US$1,992 per year, rising to US$3,051 by 2027.
Mobile devices account for 42% of all online purchases, up from 36% in 2020.
62% of Australians have shopped cross-border, with cross-border purchases valued at US$12 billion (29% of total e-commerce).

Population

26.5M

Online population

21.5M

B2C e-commerce

$43B

Banked population

99%

Credit card population

57%

E-commerce of total retail

16%

Payment method breakdown

Card41%
Cash1%
Bank Transfer10%
E-Wallet31%
Other17%

Card scheme breakdown

Visa50%
Mastercard27%
American Express7%
Local Schemes16%
Other0%

Cross-border e-commerce

Cross-border shoppers

62%

Share of e-commerce

29%

Cross-border value (est.)

$12B

Featured payment methods in Australia

Popular options based on coverage and prominence in this market.

PayPal

Global digital wallet and checkout provider with broad e-commerce coverage.

Bank Transfer (Internet & Mobile Banking)

Generic online and mobile bank-transfer methods (internet banking, e-banking, EFT and interbank transfers). Customers pay directly from their bank account via their bank's own online/mobile banking portal. Implementation and rails differ by country, but the consumer flow is a standard account-to-account bank transfer.

Zip

Zip is Australia's leading homegrown BNPL provider, offering interest-free instalment options for online and in-store purchases. It has expanded internationally to New Zealand and the United States, but retains a dominant position in its home market, competing directly with Klarna and Afterpay. Shoppers split purchases into weekly or fortnightly payments with no interest charged on most plans.

Click to Pay

Click to Pay is the EMVCo industry-standard secure online checkout letting shoppers pay with enrolled Visa, Mastercard, American Express, Discover, JCB and UnionPay cards without re-entering card details. Operator: EMVCo (global card networks). Est. users: hundreds of millions of enrolled cards (2024).

BPAY (Australia)

Australia's ubiquitous biller-code bill payment scheme accessed through online and mobile banking. Operator: BPAY Group (Australian Payments Plus). Est. users: Tens of millions of users (2024).

PayID / Osko

Real-time payment service on the New Payments Platform using PayID identifiers for instant transfers. Operator: BPAY Group / Australian Payments Plus (NPP). Est. users: 25 million+ PayIDs registered (2024).

All payment methods in Australia

Discover 14 payment methods from around the world

Showing 14 of 14 payment methods

Bank Transfer (Internet & Mobile Banking)

Zip

Apple Pay / Google Pay

Afterpay / Clearpay

Featured banks in Australia

Major institutions operating in this market.

Industrial and Commercial Bank of China (ICBC)

Beijing, China

ICBC is the world's largest bank by total assets and the largest of China's 'Big Four' state-owned banks. It offers retail, corporate, and investment banking globally.

DBS Bank

Singapore

DBS Bank is Singapore's largest bank and Southeast Asia's leading bank, recognised globally for its digital innovation and strong retail, SME, and corporate banking.

HSBC Hong Kong

Hong Kong

HSBC is Hong Kong's largest bank and the note-issuing bank of the territory, offering retail, commercial, private, and investment banking.

JPMorgan Chase

New York, United States

JPMorgan Chase is the largest US bank and one of the world's largest financial institutions, offering consumer banking, investment banking, commercial banking, and asset management globally.

China Construction Bank (CCB)

Beijing, China

China Construction Bank is China's second-largest bank, specialising in infrastructure lending, housing finance, and corporate banking. It is one of the four largest banks in the world.

Bank of China (BOC)

Beijing, China

Bank of China is China's most internationally active bank, specialising in foreign exchange and cross-border trade finance. It is one of the Big Four state-owned banks.