Most consumers now expect to be able to make payments on their mobile. However, most businesses aren’t meeting this need.
A survey by PayPal Australia suggests that nearly three quarters (71 per cent) of consumers use mobile devices to make payments. However, they are being frustrated by the fact that businesses offering this facility are in the minority (49 per cent).
While it could be argued that smaller businesses, in particular, are simply catching up with technological changes, the fact that 31 per cent of business respondents have no plans to optimise for mobile sales suggests many SMEs are overlooking the size of the sales opportunity – and in turn putting their future sales growth at risk.
“Australia has one of the highest levels of mobile penetration globally, with 80 per cent of the Australian population owning a smartphone, so I was surprised to discover the low level of business readiness to accept sales effectively via mobile devices,” says Libby Roy, managing director of PayPal Australia.
“The mobile payments landscape is fast-evolving and the Index reveals how habituated Australian consumers have become to mobile shopping, with more than a third of us making mobile payments at least once a week – a figure that jumps to 47 per cent for the under-35s.”
She added: “Although online businesses may think they don’t need to optimise for mobile now, they will have to if they want to stay competitive in the near future.”
Convenience and time-saving abilities were cited by consumers as the most attractive features of mobile payments, followed by simplicity.