Top 5 Payment Providers Offered by New Zealand Online Stores 2023

What are the Top 5 Payment Providers in the New Zealand eCommerce Market Offered by Online Stores in 2023?

In the New Zealand 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 and Mastercard lead the pack with an impressive penetration rate of 97.9% each, highlighting the strong trust and widespread acceptance of these global card networks within the New Zealand eCommerce market. American Express follows closely behind with a penetration rate of 57.0%, indicating a significant presence in the market. The data suggests a preference among New Zealand businesses for established card services, known for their reliability and security in online transactions. In contrast, newer digital payment methods are also making headway, with Afterpay achieving a penetration rate of 54.2% in the installment category, catering to consumers looking for flexible payment options. PayPal, a prominent e-wallet provider, holds a penetration rate of 46.2%, reflecting the growing trend towards mobile-driven financial transactions in the New Zealand eCommerce sector. The data from 2023 underscores the evolving landscape of digital payments, where traditional card providers maintain dominance while newer players carve out significant niches driven by consumer demand for convenience and innovation in payment technologies.

Main Facts: Dominant Payment Providers in New Zealand's eCommerce Market 2023

• VISA and Mastercard dominate the New Zealand eCommerce market with a penetration rate of 97.9% each in 2023.
• American Express follows with a penetration rate of 57.0% in the cards category.
• Afterpay and PayPal are the top choices for installment and e-wallet options, with penetration rates of 54.2% and 46.2% respectively.