PayPass Wallet gathers momentum
(11 July 2012 – Australia) Many tech-savvy shoppers are ditching cash and card as they take advantage of smartphone systems to make in-store purchases.
MasterCard's head of market development and innovation, Matt Barr, said the use of PayPass Wallet services will grow quickly as they are rolled out nationally this year.
PayPass Wallet allows consumers to shop via their phone online and in-stores.
"Shoppers will enter a world beyond cash and a world beyond plastic,' he said.
'Cash has all sorts of challenges attached to it. We see these sorts of solutions as much more convenient and safer for customers.
'We expect to see cash-paying have a reducing role in the Australian economy.'
The latest MasterCard online shopper survey found 71 percent of Australians have internet access from their phones, but only 5 percent use them to make a purchase, which is expected to change dramatically in coming years.
The survey also showed 17 percent of Australians were willing to use a mobile service to pay for goods in-store.
PayPass Wallet allows consumers to shop via their phone online and in-stores.
"Shoppers will enter a world beyond cash and a world beyond plastic,' he said.
'Cash has all sorts of challenges attached to it. We see these sorts of solutions as much more convenient and safer for customers.
'We expect to see cash-paying have a reducing role in the Australian economy.'
The latest MasterCard online shopper survey found 71 percent of Australians have internet access from their phones, but only 5 percent use them to make a purchase, which is expected to change dramatically in coming years.
The survey also showed 17 percent of Australians were willing to use a mobile service to pay for goods in-store.
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