Payment cards hold 50.6% share in Australia’s e-commerce market

The country’s e-commerce market is expected to grow by 8.3% in 2024.

Payment cards remained the top choice for Australian online shoppers, making up 50.6% of e-commerce payments in 2023, according to GlobalData.

Credit and charge cards accounted for 29.2%, whilst debit cards made up 20.9%.

Australia's e-commerce market is expected to grow by 8.3% in 2024, reaching $51.3b (AUD77.2b), with further growth projected to hit $66.8b (AUD100.5b) by 2028.

The expansion is driven by smartphone adoption, secure payment methods, and online shopping events like Black Friday.

Whilst cards still dominate, mobile and digital wallets, including PayPal and Apple Pay, are gaining ground, accounting for 34.1% of payments in 2023.

Ravi Sharma, lead banking and payments analyst at GlobalData, added: “Whilst payment cards continue to dominate, the growing popularity of alternative payment solutions, especially amongst younger generations, is expected to accelerate the shift away from cards to alternative payments.”

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