Mobile payments – New Zealand moving from cashless to walletless

This report analyses the New Zealand payments ecosystem, which has seen considerable disruption over the last decade. With smartphone penetration estimated at 90% in 2018, consumers are increasingly looking to ditch physical cards in favour of digital wallets. The research highlights that while 50% of respondents have never used mobile payments, the industry represents a NZ$1.2bn annual revenue opportunity. Bank-led apps currently lead the market, though third-party solutions like Apple Pay are gaining significant traction among younger demographics.