eftpos CEO Stephen Benton said “dozens more banks, credit unions and financial institutions” extended their mobile pay offerings with eftpos to Australian consumers this year.
“Many Australians are choosing to use eftpos when paying with their mobiles, with eftpos mobile transactions growing more than 400% year on year in July 2020 across all supported mobile ecosystems. From June to July 2020 alone, we saw 20% growth in eftpos mobile transactions,” Benton said.
“We anticipate this growth will continue to soar with more mobile launches planned later this year and we already have more than 50 banks offering eftpos as a payment option on mobile.”
According to eftpos consumers were actively choosing eftpos as their mobile payment option and using it regularly - tapping their phone an average of 21 times a month at the checkout.
eftpos says grocery stores and supermarkets, fast food restaurants, followed by eating places and restaurants, are the most frequented locations where eftpos mobile pay users tap to pay, spending on average $31 each transaction.
Benton said despite cash falling out of favour for some due to COVID-19 concerns, eftpos mobile pay customers are more inclined to access the convenience of eftpos cash out services when shopping.
“eftpos also has the added convenience of real time balances, helping consumers stay on top of their spending,” Benton said.
“At a time when Australians are having to keep a close eye on their expenditure, the convenience of contactless combined with real time balances can really benefit consumers.”