December to remember for mobile wallets, ANZ
ANZ data shows a significant rise in the volume of Australian mobile wallet transactions in December 2017, up 140% on the previous corresponding period.
The Christmas spike saw ANZ customers make around 23% more transactions using mobile wallets in December compared with the previous three-month average. “The rapid increase in the popularity of mobile wallets demonstrates a strong demand among consumers for greater choice over the way they pay,” says Steve Price, Senior Manager Everyday Banking, Australia at ANZ.
In December, ANZ customers favoured their smartphones and wearables for 4.5% of all transactions, compared with 2% for the same time last year. Mobile wallet transactions reached 3.9 million in December, compared with 1.6 million in the same month in 2016. “Mobile wallets are still a relatively new technology, with options for consumers being rolled out progressively in Australia. Looking back over 18 months the sustained emerging growth in transaction volumes is clear as adoption builds,” says Price.
62% of ANZ’s transactions are being made either at a supermarket, fast-food outlet, restaurant, service station or convenience store. Further info here.