Growth of m-payment in Australia

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Research and Markets, a research firm that focuses upon the digital and telecommunications markets has announced a new research report titled “Australia – Mobile Data – M-Commerce and M-Payment”.

The report states that Australia has a small m-commerce industry in comparison to Asian countries such as Japan and South Korea, and mobile payments and mobile advertising provide basic foundations for effective mobile commerce.

Emphasizing that the period between 2009 and 2010 is important as far as the growth of m-commerce market is concerned, it also underlines the fact that the Australian market has not evolved a common standard for mobile payments as yet.

Although various well known financial institutions have introduced mobile banking services, these services will hopefully become more popular with the mainstream market in due course of time, the study suggests. Further, it claims that quite often widespread adoption of mobile banking has been seen to pave way for a mass adoption of mobile payments and mobile commerce.

The Research and Market report also underlines a number of vital issues that have been affecting the development of m-commerce in Australia, and most of them are connected with the customers’ experience of m-commerce services, while some of them are technical issues relating to the telephony infrastructure as well. Additionally, it sheds light upon various developments relating to m-commerce that are taking place in the country, emphasizing m-banking, m-payments and mobile advertising.