Tag: australia mobile commerce

Mobile banking reaching new heights

Mobile banking is taking hold in Australia. The Market Intelligence Strategy Center, a financial services consultancy, has released new information concerning the state of mobile banking and mobile commerce within the country. More consumers are finding it easier to manage their finances through their mobile devices. This includes paying for products, managing investments, and accessing their bank accounts. These are all aspects of mobile commerce, a phenomenon that is growing in popularity around the world.

Analysis shows mobile banking reaches 6 million users

According to the Market Intelligence Strategy Center, mobile banking in Australia has exceeded 6 million users. The firm notes that it took nearly four years for Internet banking to reach the same milestone, but mobile banking has reached it in just over three. This data is based off of figures released by the Australian Communications and Media Authority, which notes that the adult population using smart phones is at 8.7 million strong throughout the country.

Banks begin embracing mobile consumers

The nation’s banks have been embracing mobile technology aggressively. Over the past year, nearly all Australian banks have made changes to their services in order to be more accommodating of mobile consumers. Many of these banks have seen the majority of their traffic come from Android devices, with iOS devices coming close behind. These banks have also found the mobile technology is a great way to sell products to consumers, as they enjoy a nearly constant connection with customers through a variety of mobile banking applications.

Focus on mobile may be good for banks

Mobile banking is expected to become more popular as mobile Internet speeds increase. 4G connections are becoming more common, but have yet to become universally available to all consumers. As Internet speeds increase, consumers are more likely to increase their reliance on the mobile devices they have come to love. This may be good news for Australia’s banks, as well as the country’s various mobile commerce initiatives that are working to attract the interest of mobile consumers.

Australia has experienced tremendous growth of the use of smartphone and tablet devices for holiday purchases.

The latest mcommerce news from Australia is clearly showing that people living in the land down under enjoy holiday shopping with the help of their smartphones and tablets and have been using them more than ever before throughout this season.

Recent data released by PayPal Australia has revealed that nearly one quarter of Australians have used mobile to buy.

The statistics have indicated that 22 percent of Australians have used a smartphone, tablet, or other mobile device for mcommerce purposes throughout the Christmas shopping season. It has been estimated that by the end of 2012, there will have been $5.6 billion worth of purchases made in that country through the use of these devices.

When compared to the figures from previous years, mcommerce has exploded in Australia.

In 2010, the spending over mcommerce in Australia was recorded to be $155 million, which is tremendously lower than this year’s data. These figures are showing a phenomenal growth to the channel.

Among the additional trends that have been observed include the timing of the purchases. For example, over the Christmas period, nearly one in every three purchases that have been made over mcommerce have occurred between the hours of 8pm and midnight. Jeff Clementz, the managing director at PayPal Australia, has said that this indicates a new trend of using smartphones and tablets after the brick and mortar stores have closed.

He explained that “Our data demonstrates that for consumers, there is residual ‘shopping time’ continuing on from the ‘in-store’ experience after they leave the shopping centre, on their mobile devices.” He also went on to add that “Additionally, we are seeing consumers shop in short mission focused bursts on mobile devices as they knock items off their Christmas list while commuting or relaxing at home.”

The information that has been collected over the holiday season regarding the ways in which mcommerce is used by Australians will be very important for defining the way that features and services are offered and campaigns are run over upcoming shopping seasons.