RFi Group’s Australian Travel and Payments Trends 2020 report investigates and reveals the latest in travel and payments trends and behaviours and the direct impact of current financial conditions to Australian banking and payments providers. The report provides financial institutions with unique data driven insights into the impact of COVID-19 on Australian travel and payment behaviour and how to most effectively design their strategy to meet their customers’ needs over the next 12-24 months.
This is a must-read, essential and unique report for all financial service professionals working in the Australian consumer banking, consumer payments and travel payments sectors.
Contents: • Methodology • Market Context • The impact of COVID-19 on travel • A deep dive into travellers attitudes and behaviours • Payment methods used overseas • Prepaid travel card • Credit cards • Travel insurance
Insights: • Effects and impact of the Covid-19 pandemic on the Australian travel and travel payments sectors • Australian consumer sentiment towards current and return to travel • Overseas transactions shifts outlined • Competitive landscape (TransferWise, Hay, Revolut) • Cash usage versus electronic payment methods when travelling (current behaviour and future intentions) • Travel Card usage at attitudes to fees (Pre-paid and non pre-paid) • Quarantine and travel corridor drivers and choice (by segment: Baby Boomers, GenX, Millennials) • Drivers and choice of payment methods used abroad (current behaviour and future intentions)
Conclusions: • Summary • Key insights • Opportunities for the Australian consumer banking, consumer payments and travel payments sectors
Methodology: • Fieldwork for the Australian Travel Program is conducted online bi-annually in May and November • The sample consisted of 1,025 respondents who have travelled overseas in the last 12 months and who are nationally representative of Australian travellers • A boost of travellers who used a prepaid travel card (PPTC) on their most recent trip was also conducted and has been included where relevant. In total, 519 prepaid travel card users were surveyed
All surveys have been anonymized.
Data Delivery: PDF Report
Market Availability: Australia, United Kingdom
Other Reports Available on Request include: UK Travel and Payments Trends 2020
About RFi Group:
RFi Group is a global data-driven insights provider exclusively focused on financial services. We specialise in data and information gathering, customer-based insight generation and business decision support for the world’s leading financial service providers, as well as challengers, disruptive market participants and companies aligned to the FS sector.
We combine global intelligence and local knowledge to provide insightful, valuable and actionable recommendations, with a core focus on the provision of exceptional client service.
Covering 48 key global markets, with regional offices in Toronto, London, Singapore and Sydney RFi Group consistently provides clients with tailored advice and insights relevant to their specific market and business needs.
For more information on this report, please follow this link.