The Australian card acquiring market is projected to grow by 5.5% to reach AUD1.1 trillion ($713.4 billion) in 2025. Despite this growth, global economic uncertainty linked to recent US tariffs may weigh on momentum, slowing the pace of expansion compared to previous years of stronger performance driven by cashless trends and consumer spending, according to GlobalData, a leading data and analytics company.
GlobalData’s Merchant Acquiring Analytics reveals that the card acquiring value in Australia registered a growth of 7.5% in 2024, driven by the rise in consumer spending and increasing consumer preference for cashless transactions. However, the current global uncertainty because of latest US tariffs can pose a challenge for the Australia’s overall economic growth, which is expected to impact even payment industry resulting a slower growth in card acquiring value in 2025.
Asha Lalitha, Senior Banking and Payments Analyst at GlobalData, comments: “Domestic transactions with Australian-issued cards dominate the acquiring space in the country, accounting for over 97% of the total value of acquiring transactions. Well-established card acceptance infrastructure, nearly-100% banking population, and the burgeoning e-commerce market are all contributing to this.”
The number of POS terminals per one million inhabitants in Australia rose from 36,012 in 2020 to 40,055 in 2025. In addition to the traditional POS terminals, companies are offering POS solutions designed to target SMEs. For instance, Fiserv launched “Clover” POS solution in March 2025, especially targeting SMEs operating in the hospitality, service, and retail sectors.
Debit cards accounted for 59% of the total domestic card acquiring value in 2024. Credit and charge cards, on the other hand, accounted for 75.3% share in the total foreign card acquiring value, supported by high usage of foreign issued credit and charge cards for purchases of goods and services in Australia both online and in-person.
Traditional banks such as Commonwealth Bank (CommBank), Westpac, and National Australian Bank held significant share in Australia’s card acquiring space, accounting for around 60% of total acquiring value in 2024. CommBank is the leading operator in the Australian merchant acquiring market. The bank offers a wide range of POS terminals, including mobile POS terminals. In May 2023, CommBank rolled out the Smart Mini reader for small businesses, enabling them to accept all types of card payments. The terminals are equipped with features such as surcharging, tipping, and digital receipts.
In addition to banks, non-bank financial institutions such as Tyro, Worldline, and Fiserv also have a presence in the acquiring space in the country.
Asha concludes: “The Australian card acquiring market is projected to grow at a compound annual growth rate (CAGR) of 5%, reaching AUD1.3 trillion ($866.7 billion) by 2029. This growth is supported by strong consumer awareness of digital payments, wider merchant acceptance, and a rising preference for contactless and e-commerce transactions.”
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