Feb 28, 2021
The Future of Payments: How eWallets and Digital Payments are Changing the Landscape…
In Asian markets, the future of payments is already here. In China in 2018, 70% of the population were regularly using QR codes, scanned with their smartphone devices, to complete payments. By comparison, the figure in Thailand from the same year was only 23%, but 74% of the population were described as “aware of QR-based payment services”, demonstrating how the technology is growing in the region.
It’s also worth noting that numbers of users utilising mobile payment apps exceeded 801 million in China in June of 2020, up from 765 million in March. This is the future of payments — quick, secure, convenient, and handled via mobile.
Here in Australia, we are a little behind this pace. As of 2020, there are around 3.3 million mobile payment users in Australia, around 13% of the total population, compared to over 57% of the population in China. However, this figure becomes a lot more exciting when we view it in a wider context. This 3.3 million represents an astonishing 45.6% growth, year-on-year. It is expected that there will be 5.6 million users in Australia by 2024, or around 20.7% of the projected population at that point. Still a little behind, but making strong progress.
Jun 11, 2022
EonX CIO Nathan Sceberras’s journey from startup to success
Ever wondered what life as a Chief Information Officer looks like? Learn about Nathan Sceberras’s journey at EonX as CIO.
Apr 08, 2021
What's a Loyalty Fintech?
Ever heard of a Loyalty Fintech? If the answer's no, don't worry – you're not alone. Below, we break down what this revolutionary new technology is and how it can help your business.
Nov 17, 2020
How to Make Every Digital Payment Count
Tech is the bridge between the future of digital payments and loyalty. The loyalty economy kicks in from the moment your customer accesses offers to the moment they pay using digital payment options.