PayPal has launched its Mobile Checkout service in Australia with plans to leverage its 5 million strong account base and spearhead the local development of mCommerce.
PayPal Australia managing director Andrew Pipolo told Online Banking Review: “We have had a number of issues restraining mobile commerce in this country, but I think now with a payment option like PayPal that makes it easy, secure and low cost for merchants, and easily understood by customers, we’ll start seeing some real activity in this space.”
The WAP-based service allows merchants to build mobile commerce-enabled sites and offer customers an instant mobile payment option.
Pipolo says the group has already signed eight large merchants to the service, including Warner Music, Hoyts, and Deals Direct, and he’s expecting many more will soon come on board. “The barrier to entry is now significantly reduced so the cost to them is very low and PayPal will also be there to assist in development and integration.”
A Galaxy Research survey of 1,100 consumers conducted for PayPal has found two thirds of Australians with mobiles want to purchase products and services through their mobile phone. Among older Australians aged 50 or above around half (51 per cent) are interested in mobile payments.
However, security remains a concern. Nearly two thirds (72 per cent) of those with worries about mobile payments were concerned about the security of their personal information.
Pipolo says all of PayPal’s traditional transaction security measures will carry over to the mobile application. “The financial information is never shared…and certainly we feel quite comfortable about the security aspects of mobile commerce.”
We’ll have more on this in the Dec/Jan edition of Online Banking Review, including an update from PayPal competitor QPay which has been working hard to build relationships with financial institutions for its mobile payments application.
Friday, November 23, 2007
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