Huge Increase In Mobile Expected Over Next Year
- $42 million in sales for 2010
- Payments via mobile phone to increase fourfold
- 2000 merchants accept online payments
New figures from PayPal claims to show an increase in the number of consumers turning to their mobiles to make payments.
In March, PayPal released its first data on mCommerce in Australia, revealing that the total value of mobile transactions processed via the company in Australia had hit $42 million in 2010. Based on the increasing number of transaction being made on mobile devices, the company is today revising its forecasts and expects the value of mobile payments in Australia to more than quadruple this year.
As online retail continues to enjoy growth, the explosion of smartphones in Australia has led to growth in mobile payments and PayPal is experiencing a growth rate of 430 per cent year on year, as mCommerce comes out of its start-up phase and moves towards maturity.
“Mobile commerce has undoubtedly hit the mainstream and in the last six months alone we have seen 2,000 of our merchant partners accept their first mobile payment,” says Frerk-Malte Feller, Managing Director, PayPal Australia.
Group buying and daily deal sites, closely followed by the events and ticketing sector are leading the way in mCommerce with the ‘buy it now’ nature of their offerings suited to attracting sales from consumers on the move, says PayPal.