Credit cards dominate New Zealand cashless payments
New Zealand had an estimated population of 4,822,233 as of the middle of 2020, according to UN data. Based on Worldometer elaboration of the latest UN data, the country had a population of 4,847,511 in 2021, with 86.9% living in urban areas, mainly Auckland. The median age of the population was 38 years.
The average annual revenue per paying user in New Zealand stood at $1,997 in 2020, according to the PPRO APAC Report. Most cross-border e-commerce purchases by New Zealanders are of products from China, Australia and the United States.
Most New Zealand shoppers prefer to pay by card (55%), followed by bank transfers, e-wallets, cash and other payment methods. For cashless payments, the biggest player was Visa (64%), followed by MasterCard, Amex and other services, according to 2020 PPRO APAC.
According to the IMF data, New Zealand had a gross domestic product of $205.22 billion in 2019, which declined to $193.55 billion in 2020 due to the pandemic. As the economy continues to recover, the GDP is expected to expand to about $211.65 billion in 2021.
Internet & mobile phone trends
Current data of New Zealand internet users by age group is not available. The latest data from 2016 shows 93% of people in the 25-34 age group have internet access. According to Datareportal, there were 4.55 million internet users in January 2021, with an internet penetration rate of 94%. Meanwhile, smartphone penetration stood at 79% by the end of 2020, according to the PPRO APAC Report.
According to data compiled by PPRO APAC, 99% of New Zealanders had bank accounts in 2020, with 61% of them credit card holders.