Down under, but on top of mobile payments
By 2019, there will be 17.93 million smartphone users in Australia1. With an overall population of 24.13 million, it means there’s a high percentage of people with the power to make mobile payments – and it provides an instant insight into how open Australians are to adopting technology in general.
Most shoppers now regularly spend between $20 - $250 via mobile2 and online purchases have increased by 25% since 20163. Alternative Payment Methods (APMs) are on the rise. And the majority are open to making payments via apps as opposed to through a browser.
However, despite the country’s openness to making mobile payments, there are still plenty of challenges to overcome.
The fast-paced and developing market mean there are new laws and regulations to deal with, which can either prevent purchases via technical restrictions – or just put people off. The New Payments Platform (NPP), for example, is designed to deliver real-time, data-rich payments. But implementing it has presented high profile stumbling blocks.
Security fears are also high amongst Australians despite their willingness to try new things. Indeed, the biggest reason for dropping out of purchasing something added to a mobile phone basket in the last 12 months is concerns over mobile website or app security (25%)2.
It seems that shoppers need to feel reassured before making purchases, with around two in three wanting to see digital security logos prominently placed1 – and the expectations don’t end there. As a nation that demands the best from its mobile payment journey, there’s a lot for businesses to consider if they want their products to be purchased.
Most Australian shoppers now regularly spend between $20 - $250 via mobile and online purchases have increased by 25% since 2016
But the encouraging news is, these high expectations mean there are plenty of opportunities to take advantage of a thriving market…
A considerably large proportion (16%) of shoppers would pay more if the mobile experience was better2, which is great news for businesses looking to increase their mobile sales. This can be achieved by beginning to cover off some of the simpler expectations shoppers have – 90%, for example, like to receive a confirmation email after making a payment2. So, do the basics and do them well to reap the rewards.
In addition, a huge 62% said they’d buy more frequently from a retailer if they received discounts2, and 41% said they’d shop more if they received loyalty points2, which are relatively simple methods to implement to increase sales.
The opportunities don’t end there. Our insightful report uncovers lots of other ways to optimise the payment journey – and highlights exactly what Australians want. It’s part of a wider series we’ve created and there’s a separate eBook for each country we surveyed.
Download ‘The Mobile Payment Journey: Australia’ now to discover all the local market insights and opportunities you need to get ahead.
 Worldpay; “The mobile payment journey: Australia”