A new report into Australian banking and the use of mobile phones has been published.
More people are motivated to use internet or credit-based Australian banking processes because they are trustworthy and convenient, a new report notes.
But many consumers are also receptive to the idea of using a mobile phone to purchase goods or services, despite the fact awareness of such systems is currently quite low.
This is according to the Australian Communications and Media Authority, which undertook research into this area of the market. It defines mobile payments as those made via 'wave and pay' sensors, person-to-person transactions, SMS, a WAP-based transaction account set-up and handsets linked to credit card or saver accounts.
It was found that people are more likely to use these systems if they only gave access to limited funds - for instance, a pre-loaded account.
An instant, anytime/anywhere element is also a defining need for consumers to use mobile payment processes, the report also stated.
"Overall, respondents were receptive to the idea of future mobile payment services," the ACMA concluded. "Most could identify some benefits of using mobile payment services over current electronic methods."
The organisation's day-to-day responsibilities cover the internet, radio communications, broadcasting and telecommunications.
By Kate Guthrie
