Top 5 Payment Providers Offered by Australian Online Stores 2023

What are the Top 5 Payment Providers with the Highest Penetration in the Australian eCommerce Market by 2023?

In the Australian eCommerce landscape of 2023, payment provider penetration (percentage of stores offering the provider among available payment methods) showcases a clear hierarchy dominated by traditional card services. VISA leads the pack with an impressive 97.5% penetration, closely followed by Mastercard at 97.1%. These high penetration rates highlight the entrenched trust and widespread acceptance of these card providers within the Australian eCommerce market. PayPal holds a significant presence as well, with a penetration rate of 88.2%, indicating a strong preference among Australian businesses for e-wallet solutions. American Express follows with a penetration rate of 73.6%, showcasing continued reliance on established card services. Afterpay, focusing on installment payments, rounds out the top five with a penetration of 60.1%. The data from 2023 illustrates the evolving digital payment landscape in Australia, with traditional card providers maintaining dominance while newer digital methods like e-wallets and installment payments gain traction, driven by consumer demand for convenience and innovation in payment technologies.

Main Facts: Dominant Payment Providers in Australian eCommerce Market 2023

• VISA and Mastercard dominate the Australian eCommerce market in 2023 with penetration rates of 97.5% and 97.1% respectively.
• PayPal emerges as a strong player in the e-wallet category with an 88.2% penetration rate.
• American Express and Afterpay follow closely behind with penetration rates of 73.6% and 60.1% respectively.