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.
Retail event will highlight the promising future of the mobile payments space
One of the retail industry’s major conventions is coming to New York and mobile payments may be one of the highlights of the event. The National Retail Federation will be hosting the event, as usual, and the organization suggests that mobile payments may be a significant focus of many companies attending the event. Retailers have become more interested in the mobile space over the past few years, largely due to growing smartphone penetration. In order to better engage consumers, these companies have become very supportive of mobile commerce.
Rewards program may encourage consumers to make use of new payment services
The mobile payments space is still quite young, but it is growing quickly. A growing number of retailers have begun to find that engaging mobile consumers with new payment services has been successful. In order to continue finding success, however, retailers will have to add value to their mobile offerings. Approximately 78% of consumers noted that they would make use of mobile payments services more often if they had access to some sort of rewards program through these services.
Security remains a major concern for consumers
Many consumers have shown favor for mobile payments because of the convenience that it represents. The problem, however, is security. Consumers have fears that their financial and personal information may be at risk if they were to use a mobile payment service. Retailers have been targeted in the past by those wishing to exploit consumer information, with some malicious groups focusing on mobile channels.
Retailers will have to take risks to find success in the mobile payments space
Retailers will have to find ways to ensure that consumer information is protected in order to find success in the mobile payments space. They will also have to find ways to add value to existing mobile payments services. Loyalty programs may be the best way to accomplish this, as consumers have shown great favor for these programs. The mobile payments space may thrive as a result of greater security and more valuable features being offered by retailers.
