The research, conducted by E-Complish, showed that there was a considerable 215 percent rise.
According to the recently released results of research from E-Complish, some of the most important mobile payments trends that have been observed include a major rise in the number of inquiries and transactions.
The firm went over the data that was available regarding the use of this technology over the last two years.
What E-Complish determined in their mobile payments trends study as that there has been an incrase of 215 percent in the use of this technology in 2013 when compared to the usage that was recorded in 2012. The company also noted that they had seen more than 30,000 transactions and that they had recorded processing over $4,500,000 by that date. Comparatively, in 2012, they had seen only 10,000 transactions and their total processing figure was only $1,500,000.
The company has stated that they have every reason to believe that these mobile payments trends will continue.
They feel that as consumers are coming to depend on their smartphones for a growing number of daily tasks, including for business purposes and for their banking, they will become increasingly willing and interested in using those same devices to pay for their purchases of products and services. Moreover, a growing number of companies have also started to integrate this form of transaction into those that they offer as the technology works more smoothly into their business models through its simplicity and accessibility.
The E-Complish results showed that customers are using smartphone friendly systems for a wide variety of different purposes, ranging from shopping apps, to personal finance apps, or even the option to pay for services through text messages.
Stephen Price, who founded the company in 1998, has had a careful watch over the mobile payments trends regarding implementation and processing among a range of different types of businesses. He pointed out that efficiency is the primary goal of the company when it comes to the use of the technology. He added that this tech fits into a “diverse range of business models. They’re easily adaptable, and this data proves their versatility.”
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.
Jeff 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.
