Strong shift continues in mobile payments
The latest data released from ANZ found consumers mobile payments were up 120 per cent more in October compared to the same time last year.
ANZ analysed the customer transaction data from October, November and December 2017 plus October and November 2018.
Customers used mobile payments 83 per cent more during November 2018 compared to the same time last year showing a strong consumer shift to digital payments.
The data showed a shift to online shopping and delivery services as the year entered October and November.
Separate analysis of ANZ merchant terminals revealed daily transaction volumes have increased nearly 20 per cent compared to last year, while ATM volumes remained flat.
“Customers are using their devices to pay for a broader range of things more often as people get used to this technology. We expect this growth to continue into 2019 and beyond,” ANZ customer engagement lead, Kath Bray said.
As expected, Christmas celebrations contributed to the change in consumer mobile use.
“During the year customers predominantly use their smart phone or watch to pay for everyday items, but as we get closer to Christmas, we see more customers using it at department stores, electronics outlets, hardware and food and beverage retailers.” Bray said.
The most common categories in mobile payments were supermarkets, petrol stations and cafes with an increase in departments stores and beverages outlets during November onwards.