Ken research announced latest publication titled “Consumer Payments Country Snapshot: New Zealand 2016,” which offers comprehensive overview on the consumer payments market in the Netherlands, concentrated on payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless and also the shrewd examination of the regulations implied in the industry that players must comply with, and how these have evolved lately. The distribution offers an in-depth analysis of the major payment card types in terms of both card holding and usage, explores the online payment market in the New Zealand by merchant type & payment tool and the regulations affecting the payments market and how they are likely to affect new incumbents and disruptors, furthermore it has investigated the consumer attitudes towards prepaid cards, P2P tools, mobile payment tools, and contactless cards, and how the industry in the Netherlands are deploying these tools to satisfy customer needs. The distribution serves a lot of purposes individuals who are seeking data about the key facts and figures in the consumer payments market in the Netherland, regulatory requirements affecting the players, major competitors new product launches and customers various sentiments over various payment options.
New Zealand is a wealthy Pacific nation dominated by two cultural groups that are New Zealanders of European descent and the Maori, the descendants of Polynesian settlers.
Macro Environment Analysis
The economy is one of the external factors that would affect mostly industries and businesses. These factors incorporate taxation, interest rate, inflation, exchange rate, and GDP. These factors impact not only behaviour of customers, but also the behaviour of companies. For example, the strong NZ dollar makes the export goods less imperative yet makes import goods more affordable to local consumers. The global financial crisis has affected New Zealand economy although New Zealand and Australia are thought to escape relatively well and have 2 to 3 percent growth in the near future. In the online equipment brokerage sector, the low interest rate could have a positive effect as the lower rate makes the asset investment more attractive. Moreover, the tax reduction for both individual and business may increase the revenue of the industry in the future.
Consumers like novel technology and most of them have become tech savvy. Internet, mobile phone, video games, and HD TVs are parts of everybody’s everyday life. For many products and services, technology can reduce expenses, escalate quality and productivity, and lead to innovation. Advances in technology will ultimately produce benefit for both consumers and the company offering the products and services. In some industry, technological factors are imperative for generating competitive advantages and maintain market position.
M-Commerce has lot of potential
New Zealand is wealthy nation where consumers have already been using cards for a long time and the cards market has reached its height in terms of volume, with new innovations and technology the expectations of consumers has reached to an undiscovered level . The companies like Semble which provides a mobile wallet app and other financial services has failed in such a market, clearly indicates that consumers expectations are certainly high. Notwithstanding such failures, the m-commerce market anticipates a good amount of success in the near future. Companies are working in this direction and quite soon, New Zealand will have masses using m commerce for all the financial transactions.
Topics Covered in the Report
- Global payment industry research
- New Zealand payment industry report
- Consumer payment industry New Zealand
- Europe payment industry research
- M-commerce Market New zealand
- Ecommerce payment industry
- UK payment industry
- Wallet payment market New Zealand
- Plastic Card Money New Zealand
- P2P payments New Zealand
- Online Payment channels New Zealand
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Ankur Gupta, Head Marketing & Communications