Mobile payments may soon see explosive growth
Mobile payments may be set to see explosive growth in Australia, at least among retailers. Mobile technology has established a strong presence in Australia, just as it has done throughout much of the world. Consumers have become heavily reliant on smartphones and tablets, favoring these devices when it comes to shopping and, in some cases, banking. This trend has been a double-edged sword for retailers, some of whom have expressed concern that the growing prevalence of mobile commerce is keeping consumers from visiting physical stores. The Australian Retailers Association sees mobile payments as a promising opportunity, however.
Retailers becoming more interested in mobile commerce
The organization notes that traditional retailers — those with physical stores — are beginning to look for ways to reduce transaction times and ensure consumer loyalty. The advent of mobile commerce has made shopping somewhat easier for consumers throughout the country, many of whom can find everything they need online and have products delivered to their homes. By embracing the convenient nature of mobile technology, retailers may be able to secure the loyalty of consumers through the provision of simple services and support of mobile payments.
Small retailers following the example of their larger counterparts
The Australian Retailers Association suggests that embracing mobile payments has become relatively common among larger retailers. This has created confidence among smaller companies that are beginning to consider mobile commerce as the industry standard. As such, growing numbers of small retailers are expected to adopt mobile payments in the coming years, leading to a dramatic increase in the mobile commerce activity of the country.
Companies seek to spread mobile commerce throughout Australia
Mobile payments have been seeing strong growth in Australia due to the numerous financial organizations that have been working to bring mobile commerce to the country. PayPal is one such group and has been testing a new mobile commerce platform in several countries. This platform is designed with retailers in mind, providing them with a way to offer comprehensive services to consumers that are tethered to smartphones and tablets.