Tag: australia mobile commerce

According to the results of a recent analysis, businesses in Australia aren’t keeping up with consumer device use.

PayPal Australia released a report that said Australian mobile commerce is lacking. It stated that businesses simply aren’t keeping up with the way consumers are using their smartphones. This includes many of the different ways in which consumers regularly use their devices.

Mobile device uses analyzed by PayPal for the report included everything from researching a brand to mobile payments.

PayPal released its Australian mobile commerce report as a part of its first ever mCommerce Index. This report will be issued biannually. It will look into the trends in smartphone based shopping and payments within the country.

Among the central report findings was that even though 71 percent of consumers in Australia are using their smartphones to make payments, only 49 percent of companies have mobile optimized.

According to the report, all businesses in the country could benefit from mobile commerce optimization.

Libby Roy, the managing director at PayPal Australia, explained that each business has its own mobile commerce level needs. However, Roy also underscored the fact that all businesses are able to benefit from it in one way or another. “What’s clear is that there are a lot of consumers that are very comfortable using mobile, and businesses need to get on board.”

Roy explained that everything from having an app to simply having a social media presence is important. It is up to businesses to understand the ways in which they can benefit their customers through mobile commerce. This simultaneously allows them to determine how they can grow their own success.

The report indicated that one in three Australians were making weekly mobile payments. One in ten Australians spend over $1,000 per month using smartphone based transactions. On average Australians are using their mobile devices to make $330 in purchases on a monthly basis. And yet, Australian mobile commerce offerings are not keeping up with that consumer shopping trend. What makes the mobile shopping trend a challenge to measure is that consumers use mobile and non-mobile business interactions in combinations with each other before completing a final transaction.

National Australia Bank is finding more momentum in the mobile payments space

Mobile commerce is gaining momentum in Australia, according to the National Australia Bank. The bank has announced that the uptake of new payment platforms has exceeded expectations, with some 18,000 consumers downloading the company’s NAB Pay application. This accounts for approximately 60,000 mobile transactions since the service was launched earlier this year. Other payment platforms are experiencing similar growth in the country as more consumers become comfortable with the concept of mobile commerce.

NAB Pay is gaining popularity among consumers interested in mobile shopping

The NAB Pay application is particularly popular among those purchasing lunch, coffee, and snacks. These consumers are using the app to make purchases at cafes and fast food restaurants at a higher frequency than those using contactless payment cards. During the work week, transactions made through NAB Pay spike during lunchtime and between 6pm and 7pm. As such, the vast majority of transactions are below $100, though some consumers are using NAB Pay to make larger purchases, especially those that are interested in electronics.

Companies are looking to make mobile payments more secure for consumers

Many banks in Australia have begun investing in mobile payments, hoping to provide better services to consumers with smartphones. These investments are beginning to focus on security features, hoping to make the mobile commerce space safer for consumers. Security has long been a major issue for consumers, many of whom believe that their financial information is at risk of exploitation. These concerns have prevented many people from participating in mobile commerce, but as payment services become more secure, many consumers are beginning to use their devices to shop online and in physical stores.

National Australia Bank is establishing a strong position in the mobile commerce market

Australia is becoming a prominent mobile payments market, with several organizations looking to bring their new payment services to the country. The National Australia Bank is becoming a major player in this market, but will be competing with other organizations that have already established a foothold in this space.