RBA Payments Data

Trend Analysis

April - 2024

Values across all payment types remained relatively consistent for the month with consistent growth rates for most products.

• ATM values grew by 4.1% which is up on the March growth of 2.7% but as predicted a return to mid single digit growth looks likely..
  
• Total card purchases showed strong growth climbing $2.4Bn to $87Bn but the spread between products was inconsistent.
• Credit card values declined slightly in April from March.
• Debit, however, saw strong value growth of $2.7Bn over March’s value with a massive 12.5% growth on last April.
• NPP values returned strongly to $165.3Bn. This fixed the March anomaly and saw NPP values at their highest ever levels.
• Cheque values dropped again to a new lowest level and at $17.8Bn was the first time they have ever been under $18Bn in value.
  

Despite low or no growth in March most payments types returned to growth in April.

• ATM volumes edged 0.4M higher to 29.6M which is 1% higher than their 12 month average volume.
  
• Total card transactions bounced back strongly to just under 1300M but as with values the growth wasn’t consistent.
• Credit card volumes dropped by ~3M transactions to 309.9M transactions.
• Debit card volumes grew strongly adding some 34M transaction over March to reach 989.9M transactions.
• NPP volumes continued to climb to 133.6M their highest ever month. Unlike in March however both volume and value grew for NPP in April.
• Whilst cheque volumes didn’t drop they also didn’t change much and remained at 1.4M cheques processed for the month, the same as in March.
  

All cards

Credt cards

debit cards

There was little month on month growth in value across total cards or credit cards but debit cards saw some average transaction value growth adding $1.05 or 2.1% to the March number of $51.17

ATM Withdrawals

npp

cheQUES

• There was a slight drop in average ATM withdrawal values. This drop sees average transaction sizes return to their January numbers
• NPP saw a strong return to average transaction value growth after the March numbers.
• Cheques saw a reasonable drop in average values driven by a reduction in values processed. Volumes remained the same but values were the lowest the have been for 12 months.
  

Each month the RBA releases the payments data it has collected across ATM’s, cards, NPP and cheques on its website. There is a two month delay in the data being published.

This report collects the data from the RBA website, then we perform some basic calculations and look at the trends to determine the underlying factors and behaviours happening in the payments market.

We hope that our analysis is both informative and insightful for readers.

This report is prepared for general information and can be shared within your organisation as required.

If you have any questions or comments about the report please feel free to reach out using the contact details below.

Disclaimer: The financial analysis presented is based on assumptions and is intended for informational purposes only. The author makes no guarantees regarding the accuracy of the forecasts and expressly disclaims any liability for errors or omissions. Readers are advised not to base financial decisions solely on this report.

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