PayPal Australia Managing Director, Frerk-Malte Feller in mCommerce advised “With the arrival of mCommerce we expect to see more change in the retail industry in the next three years than we have seen in the last decade.”
In 2010 Paypal witnessed a 25% increase per month in total mobile payment volumes as a percentage of their active customer accounts. This signals a huge increase in customers using their mobile phone to transact with PayPal. With figures demonstrating more than 10 percent of PayPal customers transacting on their mobile phone the message to online businesses is a powerful one.
According to Secure Insight Researchpublished by Paypal, Australians are spending $155 million online via their mobile phone in the year 2010.
As smart phone penetration moves towards 100 percent within the next two years that figure can only be expected to explode.
The message for online retailers is clear. You need to get your ecommerce site prepared for mCommerce functionality or risk being cut out of this lucrative market.
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