Australia - Digital Economy - E-Payment

Synopsis

Micropayment utilising e-banking has been discussed for more than 25 years. Online e-payments via telephone billing systems were launched in the 1980s, and at the same time smartcards were trialled for micropayments. By 2012 the main forms of online payments are still the use of credit cards and direct debit cards, although credit card usage and value spent declined slightly in 2011.

While PayPal has established itself as the most advanced e-payment system outside the banks it still lacks the portability in mainstream shopping. With its online payments continuing to increase the company will endeavour to tap into the mobile payment market. But one big hurdle that remains for all users is banking account portability.

Off-deck payment systems using mobile phones constitute another fast-growing market, as do calling cards. But the real breakthrough will only happen when the large financial institutions decide to open up the market to e-payments.

In this report we provide an overview of the Australian e-payment market with some references to the overseas markets. The report is also provided with industry analysis and information on a number of the bigger players in the market.

Companies mentioned

Companies mentioned in this report include – PayPal, Google, POLi, BPAY, VISA, MasterCard, Hoyts.

Hot topics and technologies mentioned

Hot topics and technologies mentioned in this report include – gift cards, e-commerce, e-banking, mobile payments, NFC, QR.