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Card payments to rise in New Zealand following lifting of lockdown restrictions, says GlobalData Thursday 17 December 2020 12:13 CET | News
GlobalData has revealed that the value of card payments in New Zealand is expected to grow at a compound annual growth rate (CAGR) of 2.2% between 2020 and 2024.
According to the press release, New Zealand is among the few countries globally that have been successful in combating the COVID-19 outbreak. With the government lifting lockdown restrictions, a rise in consumer and commercial spending is expected, which will push card payments.
Furthermore, an analysis of GlobalData’s Payment Cards Analytics reveals that the value of card payments in New Zealand is estimated to remain flat in 2020. However, this is expected to grow at a compound annual growth rate (CAGR) of 2.2% between 2020 and 2024 to reach USD 66.0 billion in 2024.