August 9, 2014
According to a recent report by Australian bank Westpac, contactless payments via mobile will reach A$3 billion in Australia by 2015. In Australia, mobile-based contactless payments have accounted for 60% of all debit-card transactions in the past 12 months. The growth can be attributed to the proliferation of smartphones that come with features, such as NFC, that make it possible to perform contactless payments. An ACMA Communications report shows that, in May 2013, there were already 11.19 million smartphones in Australia.