Tag: smartphone payments

Australian mobile commerce trends are falling behind says PayPal

| September 27, 2016

According to the results of a recent analysis, businesses in Australia aren’t keeping up with consumer device use.

PayPal Australia released a report that said Australian mobile commerce is lacking. It stated that businesses simply aren’t keeping up with the way consumers are using their smartphones. This includes many of the different ways in which consumers regularly use their devices.

Mobile device uses analyzed by PayPal for the report included everything from researching a brand to mobile payments.

PayPal released its Australian mobile commerce report as a part of its first ever mCommerce Index. This report will be issued biannually. It will look into the trends in smartphone based shopping and payments within the country.

Australian Mobile Commerce Falling BehindAmong the central report findings was that even though 71 percent of consumers in Australia are using their smartphones to make payments, only 49 percent of companies have mobile optimized.

According to the report, all businesses in the country could benefit from mobile commerce optimization.

Libby Roy, the managing director at PayPal Australia, explained that each business has its own mobile commerce level needs. However, Roy also underscored the fact that all businesses are able to benefit from it in one way or another. “What’s clear is that there are a lot of consumers that are very comfortable using mobile, and businesses need to get on board.”

Roy explained that everything from having an app to simply having a social media presence is important. It is up to businesses to understand the ways in which they can benefit their customers through mobile commerce. This simultaneously allows them to determine how they can grow their own success.

The report indicated that one in three Australians were making weekly mobile payments. One in ten Australians spend over $1,000 per month using smartphone based transactions. On average Australians are using their mobile devices to make $330 in purchases on a monthly basis. And yet, Australian mobile commerce offerings are not keeping up with that consumer shopping trend. What makes the mobile shopping trend a challenge to measure is that consumers use mobile and non-mobile business interactions in combinations with each other before completing a final transaction.

Canadian mobile payments are gaining greater consumer interest, study

| September 23, 2016

While cash purchases are becoming less commonplace in Canada, it’s plastic, not smartphones leading the way.

A new Moneris report revealed that Canadian mobile payments enthusiasm is finally growing. The report’s prediction is that by 2013, only 10 percent of transactions in Canada will be made with cash. In 2014, that figure was still 35 percent.

Digital payment technologies such as mobile wallets will be greatly responsible for reducing cash use.

The 70 percent decline in cash purchases from 2014 through 2030 will be greatly the result of Canadian mobile payments adoption. The number of contactless transactions and mobile wallets in use will reduce the need to carry cash.

Canadian Mobile Payments - Mobile WalletThe report indicated that one in four Canadians between the ages of 18 and 34 years old already prefer using a mobile wallet over cash or plastic. Comparatively, only 18 percent feel that way in the 45 to 54 year old age group. Among those from 55 to 64 years old, 10 percent prefer mobile wallets. For those aged 65 and over, only 6 percent would want to use their smartphones instead of cash or credit and debit cards.

That said, there remain some very specific barriers to Canadian mobile payments adoption.

Leger conducted a survey in which there were 1,516 Canadian participants. When asked why they would choose not to use a mobile wallet, 62 percent had their doubts about security. They said they would be more likely to use smartphones to make purchases if they felt confident in mobile security.

Moreover, 42 percent said they’d be interested in using mobile payments if there were more stores that accepted those transactions. Another 50 percent said they would be interested in using smartphone payments if it meant they could leave all their plastic loyalty cards at home.

The report also showed interest in some of the additional opportunities offered by Canadian mobile payments. For example 48 percent of those surveyed said they would use a mobile wallet if they were emailed a receipt. Furthermore, 46 percent said they would use it if all stores accepted the technology. Moreover, 41 percent said they would be interested in using them if they could also store their ID on their phones so they could leave their entire wallets behind. Another 35 percent said they would use mobile payments to pay for public transportation fare.