More than four in five (82%) Australians are using tap and go to make payments every week, reveals the latest MasterCard Digital Purchasing Survey.
Besides highlighting the growing trends of digital payment technology among Australian consumers, the new study indicates the room for growth of mobile and digital wallets in the country.
It highlights that over one third (33%) of Australians have been annoyed when a store did not offer contactless payments services, and one in ten have even avoided a store that did not offer tap and go facility.
Australians are most frequently using contactless cards at supermarkets (54%), general retail stores (22%) and petrol stations (11%), according to the survey.
MasterCard Australia and New Zealand head of market development and payment innovation Garry Duursma said: “Overall Australians see tap and go as a convenient and time saving way to pay.
“The survey findings indicate an increasing demand on retailers to take advantage of more innovative payment methods, with the majority of Australians believing that businesses that offer contactless technology are making it easier for their customers. Almost half of Australians are looking for a better and more enhanced shopping experience.”
According to the report, nearly 64% of Australians are now ‘not very’ concerned about security when using contactless, up from 46% in 2014, which shows their increased confidence in the security of contactless as a method of payment.
Despite increased popularity of tap and go technology, the survey indicates that mobile payments remain a growth area in Australia, with only one quarter (26%) of Australian consumers responded that they are aware of having contactless payment options on their mobile phone.
Among those who are not aware of having a contactless option on their phone, 36% said that they would consider using it and over half (54%) of all Australians wish they knew more about digital wallet technology.