Tag: paypal mobile payments

Mobile payments have increased by 5000 percent in Australia

| November 5, 2013

PayPal has revealed that over the last three years, the growth in the use of this technology has exploded.

According to the latest Secure Insight report from PayPal, smartphones are becoming an extremely important part of the overall shopping experience, as mobile payments are being greatly embraced by Australians.

This has reached the extent that in three years, they have grown by a factor of 5000 percent.

PayPal explained that this mobile payments growth rose from a base of $37 million. Beyond Australia, the wider online retail market experienced an 11 percent growth to bring its own figure to $36.8 billion. When compared to retail transactions, overall, this is significant, as the total figure had been estimated at only 2 to 3 percent.

This demonstrates that mobile payments are rising far more quickly than transactions as a whole.

Mobile Payments AustraliaJeff Clementz, the managing director for PayPal Australia, has explained that the last three years that the company has experienced in retail in the country had been focused on expanding e-commerce. However, he has said that the next phase is now underway and it will concentrate on solutions for the point of sale.

He explained that “Technology development has driven deep structural change in Australian retail.” Clementz also went on to add that “Where once there were few retailers that could truly be called omni-channel, today there are many connecting with consumers in-store, online and on the go.”

The focus that PayPal has now taken is to change the way that the cash register experience works for both retailers and consumers. This aligns with its recent announcement of its PayPal Beacon mobile payments service. Within it, consumers are provided with a hands-free experience. It allows customers to head into a brick and mortar shop, choose their products, and then pay for them at the checkout counter without ever taking their wallets or their devices out of their pockets or purses.

The hope is that these mobile payments will provide a much faster, smoother, and more convenient transaction to enhance shopping, overall, and simplify the purchasing experience to a point that has never before been achieved.

Mobile payments future is becoming clearer

| October 23, 2013

The last few weeks are proving to be a defining period for this type of transaction.

Over the last few weeks, the combination of the groundbreaking mobile payments announcements made from Money2020 in Las Vegas and from the GSMA’s NFC & Mobile Money Summit in New York have allowed a much clearer vision of the future of this technology to be formed.

The leaders of the industry giants are now revealing the next steps that their companies will take.

This has given the world the opportunity to see a much clearer vision of the future of mobile payments technology, with increasingly pervasive tech as well as a considerable cooperation from the industry. As was pointed out by the co-founder and CEO of Ensygnia (a visual pay technology), Richard H Harris, m-commerce venders and retailers alike will now be working to give consumers a better shopping experience overall.

This includes the development of mobile payments for everything from smartphones to wearable gadgets.

Mobile Payments FutureIt also involves the creation of new ways for people to order their products and services and to employ mobile payments through the establishment of identity and by “tokenizing the things we use for identity,” said Harris.

The Visa global head of digital for developed markets, Sam Shrauger, explained that he sees the tech within the retail environment becoming more omnipresent. He stated that by being able to work together, it will become possible to establish a “strong ecosystem” that will be both secure and safe because it gives consumers the opportunity to – for instance – walk into a restaurant and have their meal already prepared and sitting on the table for them. He explained that mobile payments and commerce are “all about taking friction out of every aspect of the shopping, buying, paying, post-transaction experience.”

The Groupon owned Breadcrumb restaurant point of sale system founder, Seth Harris, agreed with Shrauger’s statement that cooperation of this nature will broaden, as companies are well aware of how difficult it is to progress in this way when they are attempting to do so on their own. “I think we’re going to see a lot more cooperation among a lot of the big companies than people really realise. It’s only through us all working together that I think we’re going to get there fast.”

PayPal’s vice president of global solutions management, Carey Kolaja, pointed out that there has already been notable progress in mobile payments and loyalty systems over the last year and a half; that more distance has been travelled in that time than it has in the last decade.