The Australian Communications and Media Authority (ACMA) has found that Australia is a prime market for mobile payment, despite low awareness of the technology, according to digital-media.net.au.
A survey conducted by the ACMA shows that Australians generally prefer the idea of contactless mobile payment systems provided by financial institutions to SMS mobile payment, due mainly to the belief that contactless offers better fraud protection.
ACMA research also found that Australians would be most receptive to a mobile payment system built on a ‘limited funds’ model similar to popular contactless debit cards, and that the target age for such a system is 18-35 year olds and “empty nesters.”
Digital Media suggests this upswing in support for contactless is a reaction against SMS mobile payment, which has often left customers with unexpectedly large bills. DM says that telco Exetel has even gone as far to block all premium SMS by default, which it claims removes nearly 90% of its billing disputes.
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