Payments in ANZ: A Market Maturing – and What That Means for Talent

Payments in ANZ feels different in 2026 – and the recent RBA surcharge decision has only accelerated that shift.

For years, the narrative was simple: growth, adoption, disruption. That’s still true — but it’s no longer enough.

What we’re seeing now is a shift toward a more mature phase, where margin, regulation, distribution and execution matter just as much as innovation.

From a recruitment perspective, the question has changed:

The Market Shift: Less Product, More Economics

Consumer behaviour has already moved:
• Mobile wallets now make up 40%+ of in-person transactions
• NPP is processing $6B+ daily

Payments are becoming invisible — and that shifts value away from frontend experience toward:
• Infrastructure
• Cost efficiency
• Routing capability
• Distribution

At the same time, consolidation is accelerating.

Hiring: Still Active, But Far More Selective

Hiring hasn’t slowed — it’s sharpened.

We’re seeing a split: some businesses reducing or restructuring, while others are hiring deliberately.

Consistent demand remains for:
• Enterprise / mid-market sales
• Commercial product leaders
• Risk, fraud & compliance
• Multirail payments expertise (cards + A2A)

This shift is only accelerating post-surcharge removal, where businesses are placing even greater emphasis on roles that protect revenue, optimise pricing or improve efficiency.

Churn: Structural, Not Optional

Churn is still high — but increasingly driven by restructuring, M&A activity, and margin pressure.

Businesses are redefining what “good” looks like — and that’s creating movement.

Retention now comes down to:
• Strategy clarity
• Leadership quality
• Confidence in where the business is heading

The Surcharge Decision: A Catalyst for Change

With the RBA confirming the removal of card surcharges, the impact on the payments market will be immediate – particularly from a talent perspective.

This is effectively a margin compression event.

In practical terms:
• Margins tighten across the board
• Pricing comes under pressure
• Consolidation likely accelerates

But from a recruitment lens, this doesn’t reduce hiring – it changes what good looks like.
We expect to see:

• increased demand for high-performing sales and account management talent
• greater focus on product, pricing and payments strategy capability
• continued investment in risk and compliance roles

At the same time, some businesses will restructure, while stronger players use this moment to scale.
The shift is clear: hiring in payments is moving from growth-driven to performance-driven.

Salary Expectations: Sales vs Account Management

One of the biggest shifts we’re seeing is around commercial roles — both new business and retention.

Business Development (New Logo Focus)

Still commanding strong packages, particularly in Sydney and Melbourne:

• Sydney / Melbourne $120k–160k base + commission (higher targets, more competition)
• Brisbane / Perth Slightly lower base, often more flexibility in structure
• Smaller markets / NZ Lower base, but broader roles and faster progression

Increasingly, comp is tied tightly to proven revenue generation.

Account Managers (Growth + Retention Focus)

This is where we’re seeing more variation — depending on book size, complexity and whether there’s an upsell component.

Market benchmarks (Australia):
• $90k–$110k base — typical mid-range
• $110k–$150k+ base — experienced / enterprise-facing roles
• OTE can push to $180k–$220k+ in more commercial / quota-driven roles

Across regions:

• Sydney / Melbourne → higher base, more defined segmentation
• Brisbane / Perth → broader roles, often hybrid AM/BDM
• Smaller markets / NZ → lower base, more ownership and progression

Key Shift: The BDM / AM Line Is Blurring

More roles now expect retention + growth, upsell/cross-sell responsibility, and ownership of revenue within an existing book.

Which is why we’re seeing:
• Account Manager salaries are moving closer to sales structures
• Variable comp is increasingly tied to account expansion, not just retention

What This Means Going Forward

Payments in ANZ isn’t slowing — it’s maturing.

Over the next few years, we’ll see:

• More consolidation
• Structural pressure on margins (accelerated by surcharge removal)
• More focus on commercial, pricing and optimisation capability
• More focus on efficiency and scale

And from a talent perspective:

• Hiring will stay active — but targeted
• The bar for top performers will keep rising
• The gap between strong and average talent will widen

Final Thought