Optus is entering into Australia’s mobile payments space in order to meet consumer demand
Several companies are fighting to enter into Australia’s mobile payments market, but they are finding it difficult to do so. Optus, one of the country’s largest telecommunications organizations, will be moving into the mobile payments space to fill the gap in services that exists in the market. The demand for such services has risen dramatically over the past few years, with consumers wanting to use their smartphones and tablets to purchase products online.
New accessories will give mobile devices NFC capabilities
Optus has launched a new range of accessories that can be used on its existing Cash by Optus platform. These accessories are equipped with NFC technology and will allow consumers to give their smartpones the ability to make mobile payments. Devices equipped with the accessories can be used to send and receive payments of $100 or less. Optus believes that the new accessories will enable more consumers to participate in mobile commerce.
NFC technology continues to play a major part on the mobile commerce sector
NFC technology plays a major role in the mobile commerce space. This technology allows digital information to be sent over short distances, which is ideal for mobile transactions. The problem, however, is that consumers must have NFC-enabled mobile devices in order to make these transactions. In the past, such devices were quite rare, which slowed the adoption of mobile commerce. While NFC-enabled devices are now quite plentiful, many consumers still lack access to NFC technology, which is why the new accessories from Optus may become so useful to consumers.
Apple and Google will face significant competition when they manage to come to Australia
Apple is looking to enter into Australia’s mobile payments market, but the company has encountered resistance from some of the country’s largest banks. Google is finding less resistance, however, and intends to release its new mobile payments system in Australia at some point later this year. Both Apple and Google will have to compete with Optus, which is likely to establish a strong foothold in the mobile commerce market before other companies manage to break into the market.
He explained that the mobile app has been specifically customized for users in the Hong Kong market. He said that while WeChat Pay gives users a solid mobile wallet option, it also provides “our partners with the benefit of a direct connection to WeChat’s massive community that other payment platforms cannot provide. This is truly a triple-win for us all.”