Find out how people pay in New Zealand

New Zealand

General Information

Population 4.9 m
Population 15 + 4.0 m
Online population 4.5 m
Area 268,021 km²
Currency NZD
GDP 371.1 bn $US
GDP per capita 75,738 $US

Card-based payments
Cash-based payments
Bank transfer
Wallets
Other

[{"label":"Card-based payments","value":"50"},{"label":"Cash-based payments","value":"1"},{"label":"Bank transfer","value":"15"},{"label":"Wallets","value":"20"},{"label":"Other","value":"14"}]

Banked population

New Zealand 99%
Asia Pacific 76%
World 67%

Credit card penetration

New Zealand 62%
Asia Pacific 29%
World 19%

Internet penetration

New Zealand 91%
Asia Pacific 61%
World 62%

Smartphone penetration

New Zealand 90%
Asia Pacific 62%
World 70%

E-commerce continues to grow in New Zealand in 2022. The first quarter results of the year show a 31% increase on 2021 with 1.4 bn $US being spent in nearly 17 million transactions. However, although the second quarter saw a fall of 4%, they are still up on pre Pandemic figures by 52%.

Card payments, which fell during the Pandemic, are forecast to grow by CAGR 5% between 2022 and 2026 with a worth of 67.1 bn $US.

New Zealanders, at present, prefer to shop local, with 75% of shopping purchased from New Zealand e-commerce stores, up from 71% in 2022. Earlier in the year New Zealanders were doing some of their online food shopping in Australia, as even with shipping, it worked out cheaper than purchasing from a New Zealand supermarket.

Bank of Zealand has launched its new payment service for SME with a Bank of New Zealand bank account – BNZ Pay, free until January 2024. Since 2019 the use of cash has dropped by 26% the Reserve Bank of New Zealand reports.

Future e-commerce trends (2021-2026)

B2C e-commerce ($US billion)

2022 7.3

2023 8.2

2024 9.0

2025 9.8

2026 10.6

E-commerce spending per capita ($US)

2022 1420

2023 1564

2024 1701

2025 1833

2026 1956

E-commerce spending as % of GDP

2022 2.8

2023 3.0

2024 3.1

2025 3.3

2026 3.4

New Zealand

The E-Commerce Market

Top e-commerce segments

Food & Personal Care: 25%
Toys, Hobby & DIY: 23%
Fashion: 23%
Electronics & Media: 16%
Furniture & Appliances: 14%

Cross-border e-commerce

Cross-border proportion of total e-commerce – 25%
Value of cross-border e-commerce – 1.6 bn $US
Online shoppers who have shopped cross-border – 52%

Top 3 cross-border shopping origin markets

Australia: 40%

China: 27%
US: 14%

B2C e-commerce growth 20->21

New Zealand 22.8%

E-commerce % of total retail

New Zealand 12%
Asia Pacific 29%
World 20%

E-commerce completed on a mobile device

New Zealand 51%
Asia Pacific 65%
World 53%

The Credit Card Split

Visa
Mastercard
American Express
Other

[{"label":"Visa","value":"71"},{"label":"Mastercard","value":"21"},{"label":"American Express","value":"6"},{"label":"Other","value":"2"}]

E-commerce market size 6.5 bn $US
E-commerce spending per capita 1,268 $US
E-commerce spending as % of GDP 2.7%

_{The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.}

New Zealand

Local Payment Methods

BitPay

Type Cryptocurrency Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet

Type Bank transfer, Prepaid voucher, Gift card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysafecard

Type Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Paysera

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High POLi

Type Bank transfer Regions Asia Pacific Skrill

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High 123