PayPal Report Urges Australian Retailers to ‘Embrace M-Commerce Now’
April 7, 2011
Consumers in Australia made $155 million in purchases using mobile phones in 2010, according to PayPal’s Australian subsidiary. In a recent report, the e-commerce payment provider said its mobile payment volume has grown significantly and represents a meaningful opportunity for Australian retailers. “The consumer demand for mobile payments is in the here and now with 10 percent of PayPal’s 3.6 million active consumer accounts having completed transactions on mobile devices in the last quarter of 2010, up from just 1 percent in 2009,” said Frerk-Malte Feller, PayPal Australia’s managing director. “In the last quarter, our merchants have enjoyed a 25 percent month-on-month increase in total mobile payment volumes. Retailers must embrace m-commerce now or risk being left behind. Australian retailers were late to the e-commerce market and cannot afford to make the same mistake again.” Smartphones now account for 63 percent of the total handset market and 68 percent of Australians plan to use mobile devices for transactions and payments in the near future, the report said.