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Credit Cards in New Zealand
There are 2,742,140 credit cards in New Zealand(0.62 cards per capita) as at 31st December 2010, an increase of 71,618 or 2.68% compares to 2,670,522 in 2009.
Debit cards has increase by 282,976 or 4.81% to 6,166,134 as at 31st December 2010, compares to 5,883,158 in the same period in 2009.
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Total Card Payments Transactions Volume
In 2010, there are 259,944,926 total number of credit cards transactions in New Zealand(generated at New Zealand merchants - includes credit cards
issued by banks located in New Zealand and outside New Zealand), which translates into an increase of 4.63% or 11,492,265 increase compares to 248,452,661
transactions in 2009.
For credit cards issued in New Zealand(credit cards issued by banks located in New Zealand and include transactions generated within New Zealand and outside New Zealand),
there are 293,951,129 total number of transactions in 2010, a significant 21.29% or 51,598,346 increase compares to 242,352,783 in 2009; considering only 2.68% in the number of credit cards growth in 2010.
In 2010, there are 125,039,686 total number of debit cards transactions in New Zealand, an increase of 4% or 4,808,161 compares to 120,231,525 in 2009.
Total Card Payments Transactions Value
In 2010, there are NZ$29,825 millions total credit cards transactions recorded in New Zealand(generated at New Zealand merchants - includes credit cards
issued by banks located in New Zealand and outside New Zealand), which translates into an increase of 3.62% or NZ$1,042 millions increase if compares to NZ$28,783 millions in 2009.
The increase in value is in accordance to increase in the number of credit card transactions recorded during the period. Out of the NZ$29,825 millions transactions, NZ$26,393 millions or 88.49%
is contributed by New Zealand issued card, whereas NZ$3,434 millions is generated by overseas card.
For credit cards issued in New Zealand(credit cards issued by banks located in New Zealand and include transactions generated within New Zealand and outside New Zealand),
there are NZ$29,760 millions total credit cards transactions in 2010, a 3.53% or NZ$1,014 millions increase compares to NZ$28,746 millions in 2009. The increase in value is in accordance with
the increase in number of credit card transactions recorded during the period. Out of the NZ$29,760 millions, overseas card billing accounted for 12.22% or NZ$3,367 millions for New Zealand credit card billings in 2010.
Credit Limit and Outstanding Balances
As at December 2010, the total credit limit for credit cards in New Zealand(business and personal cards) is NZ$17,611 millions.
The New Zealand credit card total outstanding balances(business and personal cards) as at December 2010 is NZ$5,586 millions, an increase of NZ$157 millions or 2.89% compares to NZ$5,429 millions
the same period in 2009. As at December 2010, NZ$5,271 millions of the total outstanding is for personal credit cards, where NZ$3,632 millions outstanding is interest-bearing and NZ$1,639 millions is non-interest-bearing.
Credit Cards in New Zealand 2008-2009
There are 2,670,522 credit cards in New Zealand(0.61 cards per capita) as at 31st December 2009, a decrease of 35,598 or 1.32% compares to 2,706,120 in 2008.
In contrast, debit cards has increase by 378,258 or 6.87% to 5,883,158 as at 31st December 2009, compares to 5,504,900 in the same period in 2008.
Total Card Payments Transactions Volume
In 2009, there are 248,452,661 total number of credit cards transactions in New Zealand(generated at New Zealand merchants - includes credit cards
issued by banks located in New Zealand and outside New Zealand), which translates into an increase of 0.71% or 1,755,780 increase compares to 246,696,881
transactions in 2008.
For credit cards issued in New Zealand(credit cards issued by banks located in New Zealand and include transactions generated within New Zealand and outside New Zealand),
there are 242,352,783 total number of transactions in 2009, a 1.52% or 3,623,995 increase compares to 238,728,788 in 2008.
In 2009, there are 120,231,525 total number of debit cards transactions in New Zealand, an increase of 3.19% or 3,715,368 compares to 116,516,157 in 2008.
Total Card Payments Transactions Value
In 2009, there are NZ$28,783 millions total credit cards transactions recorded in New Zealand(generated at New Zealand merchants - includes credit cards
issued by banks located in New Zealand and outside New Zealand), which translates into a decrease of 1.48% or NZ$431 millions increase if compares to NZ$29,214 millions in 2008.
The marginal increase of 0.71% in the number of credit card transactions did not help the growth in credit card transactions value. Out of the NZ$28,783 millions transactions, NZ$25,457 millions or 88.44%
is contributed by New Zealand issued card, whereas NZ$3,325 millions is generated by overseas card.
For credit cards issued in New Zealand(credit cards issued by banks located in New Zealand and include transactions generated within New Zealand and outside New Zealand),
there are NZ$28,746 millions total credit cards transactions in 2009, a 2.43% or NZ$717 millions decrease compares to NZ$29,463 millions in 2008. The 1.52% increase in number of transactions failed to
spur the increase in transaction value, most probably due to the 1.32% decrease in number of credit cards issued. Out of the NZ$28,746 millions, overseas card billing accounted for 11.45% or NZ$3,292 millions
for New Zealand credit card billings in 2009.
Credit Limit and Outstanding Balances
As at December 2009, the total credit limit for credit cards in New Zealand(business and personal cards) is NZ$17,490 millions.
The New Zealand credit card total outstanding balances(business and personal cards) as at December 2009 is NZ$5,429 millions, a decrease of NZ$35 millions or 0.64% compares to NZ$5,464 millions
the same period in 2008. As at December 2009, NZ$5,105 millions of the total outstanding is for personal credit cards, where NZ$3,554 millions outstanding is interest-bearing and NZ$1,551 millions is non-interest-bearing.
Credit Cards in New Zealand 2007-2008
There are 2,706,120 credit cards in New Zealand(0.64 cards per capita) as at 31st December 2008, a small increase of 2,111 or 0.08% compares to 2,704,009 in 2007.
This shows the credit cards growth has stagnant if compares to 6.58% or 166,935 increase in 2007(2,537,074 credit cards in 2006).
Nonetheless, from 2003 to 2008, there is a healthy growth rate of 13.97% or 331,729 increase in the number of credit cards(2,374,391 credit cards in 2006).
In contrast, debit cards has increase by 431,918 or 8.51% to 5,504,900 as at 31st December 2008, compares to 5,072,982 in the same period in 2007. The number of debit cards has a growth rate of
17.92% or 836,624 during the period from 2003 to 2008.
Total Card Payments Transactions Volume
In 2008, there are 246,696,881 total number of credit cards transactions in New Zealand(generated at New Zealand merchants - includes credit cards
issued by banks located in New Zealand and outside New Zealand), which translates into an increase of 2.49% or 5,990,840 increase compares to 240,706,041
transactions in 2007. During the period from 2003 to 2008, there is a significant growth of 50.25% or 82,507,884 of credit cards transactions in New Zealand.
For credit cards issued in New Zealand(credit cards issued by banks located in New Zealand and include transactions generated within New Zealand and outside New Zealand),
there are 238,728,788 total number of transactions in 2008, a 4.08% or 9,360,670 increase compares to 229,368,118 in 2007. This is good growth considering only 0.08%
increase in number of credit cards issued during the period. During the period from 2003 to 2008, credit cards usage by New Zealanders has increase by 40.56% or 68,890,981
transactions, even though there is only an increase of 13.97% in the number of credit cards issued.
Interestingly, even though there is two times more debit cards issued compares to credit cards in New Zealand, the number of transactions for debit cards is only 50% of those
recorded for credit cards. This shows the popularity of credit cards as the choice for payment method in New Zealand. In 2008, there are 116,516,157 total number of debit cards
transactions in New Zealand, a significant increase of 12.7% or 13,127,451 compares to 103,388,706 in 2007. During the period from 2003 to 2008, debit cards usage by New Zealanders
has increase by 33.11% or 28,980,816 transactions.
Total Card Payments Transactions Value
In 2008, there are NZ$29,214 millions total credit cards transactions recorded in New Zealand(generated at New Zealand merchants - includes credit cards
issued by banks located in New Zealand and outside New Zealand), which translates into an increase of 4.26% or NZ$1,195 millions increase if compares to NZ$28,019 millions in 2007.
The increase in value is in accordance to increase in the number of credit card transactions recorded during the period. Out of the NZ$29,214 millions transactions, NZ$25,865 millions or 88.54%
is contributed by New Zealand issued card, whereas NZ$3,350 millions is generated by overseas card.
For credit cards issued in New Zealand(credit cards issued by banks located in New Zealand and include transactions generated within New Zealand and outside New Zealand),
there are NZ$29,463 millions total credit cards transactions in 2008, a 4.08% or NZ$1,156 millions increase compares to NZ$28,307 millions in 2007. The increase in value is in accordance with
the increase in number of credit card transactions recorded during the period. Out of the NZ$29,463 millions, overseas card billing accounted for 12.22% or NZ$3,599 millions for New Zealand credit card billings in 2008.
Credit Limit and Outstanding Balances
As at December 2008, the total credit limit for credit cards in New Zealand(business and personal cards) is NZ$17,707 millions. As at September 2009, the credit limit is at NZ$17,489 millions.
The New Zealand credit card total outstanding balances(business and personal cards) as at December 2008 is NZ$5,464 millions, an increase of NZ$256 millions or 4.92% compares to NZ$5,208 millions
the same period in 2007. As at September 2009, the outstanding balances has reduced to NZ$5,189 millions, a decrease of 5.03% or NZ$275 millions compares to December 2008.
As at December 2008, NZ$5,122 millions of the total outstanding is for personal credit cards, where NZ$3,534 millions outstanding is interest-bearing and NZ$1,588 millions is non-interest-bearing.
As at August 2009, the total personal credit cards has reduced to NZ$4,909 millions, where NZ$3,406 millions outstanding is interest-bearing and NZ$1,503 millions is non-interest-bearing.
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