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PayPal Australia: mCommerce increases momentum in Australian retail
- Australians making over 1,000 mobile transactions an hour with PayPal
- 2,000 PayPal merchants accept first mobile payment in last six months
New figures from PayPal show a steep trajectory in the number of consumers turning to their mobiles to make payments with PayPal Australia currently processing over 1,000 transactions an hour from mobile phones. Speaking this week at the Online Retailer conference, PayPal is urging retailers to take advantage of this powerful new revenue channel to drive sales.
In March, PayPal released its first data on mCommerce in Australia, revealing that the total value of mobile transactions processed via PayPal Australia had hit $42 million in 2010. Based on the rapidly increasing number of transaction being made on mobile devices, PayPal is today revising its forecasts and expects the value of mobile payments in Australia to more than quadruple this year. As online retail continues to enjoy healthy growth, the explosion of smartphones in Australia has led to staggering growth in mobile payments and PayPal is experiencing a growth rate of 430 per cent year on year, as mCommerce comes out of its start-up phase and moves towards maturity.
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