eftpos cardholders have flocked to its mobile pay offerings, as Australians show a greater preference for contactless payments during the COVID-19 pandemic.
Consumers have been regularly choosing eftpos as their main mobile payment option, tapping their phone an average of 21 times a month at checkouts.
In addition to the pandemic, more financial institutions had extended their mobile payment offerings to consumers this year, furthering eftpos’ growth.
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.
eftpos anticipates this growth will continue to soar with more mobile launches planned before Christmas.
Mobile pay users tapped most frequently at grocery stores and supermarkets, fast food and other restaurants, spending on average $31 per transaction.
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.
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 our cardholders.