According to recent research released by PayPal Australians are increasingly looking for easier ways to make payments at the checkout, with Aussies leading the US and UK when it comes to smartphone payments. Those surveyed also revealed that Aussies carry less cash or coins in their wallets than the majority of the countries surveyed including France, Spain and Germany.
“With industry research revealing mobile penetration is over 80 per cent in Australia it comes as no surprise that more Aussies have embraced mobile payments compared to consumers in the US and UK,” Adrian Christie, PayPal Australia spokesperson said.
Mr. Christie explained that the research also revealed that over half of Aussies (58%) said they make online transactions on a mobile device which is more than those surveyed in the UK (54%) and the US (48%). However, emerging markets such as China and Russia are leaders when it comes to mobile payments with over 80 per cent saying they make online transactions via a mobile device.
“Aussies are shopping online, on-the-go and in-store and solutions that make the payments process as seamless as possible are increasing in demand. With around one in three PayPal payments taking place on a mobile device it is becoming increasingly obvious that cash is no longer king.” Mr. Christie commented.
Mr. Christie revealed that when asked what we carry most of in our wallet, one in four said loyalty cards or membership cards and only one in 10 said cash or coins. This is compared to only Canada (7%), Brazil (9%) and the US (10%) who carry less cash or coins.