A growth of over 400% since the year 2012, mobile payments are estimated to grow to an amount of over $1.3 trillion worldwide by year 2017 (Sherman, 2014).

As a result, the only thing you’ll only ever need when leaving the house is your phone. Forget your wallet, that will soon no longer be needed. Mobile phones are your best friend from now on. Or even more important than your best friend, because that’s going to be the only item you’re ever going to need everywhere you go now.

Throw out your wallet, say goodbye to cash, goodbye cards……and HELLO MOBILE PAYMENTS! The newest revolution of this period!


Image source


Hi everyone, we meet again. Today at destination #5, we will be exploring the world of mobile payments.

The evolution of payments has increasingly changed over the years, where we started from cheques, to cash, to credit cards, to today’s new form of payments, that is mobile payments aka mobile money.



So why mobile payments? What are the reasons for businesses to adopt mobile payments?  According to Sherman 2014, it’s simply due to:

  • Reduced costs (Did you know that ATM transactions were 60% more expensive than a mobile transaction?) 
  • Increased Reach
  • Growth in mobile usage (Now a days, approximately 50% of individuals are using the function of mobile banking on their smartphones. Individuals have increasingly seen the importance in mobile banking, that some customers have switched banks simply due to poor mobile banking experience)




You may have seen the recent ads for ANZ Bank, where they have made the switch to mobile payments: “ANZ Mobile Payments – Head Tap TVC”

ANZ Mobile Pay is the newest invention, where you’ll no longer need to fumble with your wallet. ANZ Mobile Pay allows you to tap and pay with your mobile phone. However, unfortunately this is currently only compatible with Android phones.

With this latest creation, ANZ aims to commit towards providing their customers with innovative solutions, making their lives easier.

Three types of payments are currently being offered:

  • Wake to Pay ; where payments can be made with the phone being locked
  • Launch to Pay ; Mobile Pay app must be active for payments to be made
  • Passcode to Pay ; app must be launched and requires a passcode

Payments made under $100 do not require a PIN, and customers are able to use Mobile Pay to withdraw money at contactless enabled ANZ ATM’s (Saarinen, 2016). 

To date, ANZ is one of the last Big Four banks to have offered mobile payments. With Apple introducing its mobile wallet ‘Apple Pay’ last year, offering American Express consumers who are Iphone users a mobile wallet form. Additionally, by the end of the year,  ‘Android Pay’ which is Google’s own digital wallet, is said to reach Australia (Pearce, 2016).

So…. let me ask, what are your thoughts on mobile payments? Have you ever used mobile payments before? Did you find it easy and convenient? Would you use it again? Why don’t you want to use? Please leave your thoughts in the comment section below as I’d love to hear whether you are a nay or yay with this new revolution.

ILLUSTRATION: Mobile money

Image source


And so folks, we have reached the end of destination #5. But don’t be disappointed, as we will soon meet again, so back on the bus, and onward towards our next stop. Speak soon.


Your Driver,



  1. Interesting read! I am undoubtedly that person who has to have mobile phone around. In this era, everything becomes digital, and mobile marketing is getting more and more popular; 400% increase in mobile payment is really impressive but not surprising.
    I haven’t used mobile payment yet, but I’m definitely going to do it soon! This payment method seems really convenient as we won’t need to carry all the cards around any more.


    1. Hi Stephanie,

      Same here, I’m also guilty of being that person who has to have my phone everywhere with me. I feel so insecure and incomplete if I don’t have my phone with me.

      The payment method does seem quite convenient doesn’t it, however, in my mind, I’ll always have that fear of it not being 100% secure. With technology, there’s that chance for individuals to hack into the system or steal information. However in saying so, due to the era of technology growing at such a fast pace, despite these slight thoughts of mobile payment not being 100% secure, us individuals will mostly turn a blind eye and continue to use it anyways.

      A main point of mobile marketing however is due to its convenience. You no longer have to carry cash, which could at times be a hassle due to how heavy the coins can be. Additionally, you could even ditch the wallets as your credit cards are stored on your phone. This could then mean that individuals could hold more accounts than before as they don’t have to worry about carrying so many plastic cards in their wallet no more due to the mobile payments scheme. If you’re interested in learning more about mobile payments, here’s a link.

      Thanks for having a read of my blog post and commenting as well. Much appreciated.



  2. Hey Teresa!
    I really enjoyed reading this post as I think this new “mobile pay” technology is something that could potentially have a great impact on our lives. Over time we have continuously revolutionised the way we make our payments, as you mentioned in your post, from cheques to credit cards to cash. More recently we have seen the development of the “pay pass” or “tap and go” technology. The mobile payment process appears to be quite similar to this, with the only main obvious difference being using a card vs. a mobile phone. I am frequently using my banking app however I am yet to try a mobile payment. Given the way the world is changing, it doesn’t at all surprise me that such technological advancements have occurred in the way we purchase things. My only concern about mobile payments and the reason I would be hesitant to use it, is the safety of my details and my account. If I lost my phone for example, does that mean whoever finds it has access to my money and are able to purchase things?
    In saying this, I though the same thing when pay pass first came out, and now I use it all the time!
    So we shall see… 🙂



    1. Hi Kate,

      Thanks for having a read of my blog post, stumbling across my blog overall, and sharing your thoughts.

      You raised a good question. I myself do wonder how safe and secure your details would be if you had lost your phone, and someone else picked it up.

      A similar question like this was raised with the ‘tap and go’/’paypass’ issue as well. It’s so easy for people to be able to tap and go with this scheme as purchases under $100 are compatible. I came across an article where a woman was caught using someone else’s PayPass card more than 30 times before getting caught. Here’s the link to the article if you’re interested :

      I honestly am not entirely sure how the mobile payment system will be dealing with this issue, but I believe they would resolve it in a way that is similar to when someone misues your tap and go card. For Visa and Mastercard users, individuals generally have up to 120 days to report fradulent activity, where this is investigated, and most of the issues are quickly resolved. Most of the times, the money amounts are quite small, so it shouldn’t be too big of a problem.

      However, I did some research and found an article that mentioned how mobile payments are not secure, carrying significant sercurity risks. Cash was said to be the most secure form of payment, however only 9% of individuals actually prefer to use it. The global mobile payment market is expected to be worth an estimated value of $2.8 trillion by year 2020, despite such security risks. So with these facts, we can evidently see that individuals are clearly aware that mobile payments aren’t secure, yet they’re still choosing to use it. With such a small proportion stating that they would use cash payments despite it being the most secure, individuals are still choosing to use mobile payments. Here’s the link of the article that I came across :



  3. Mobile payments are such an interesting topic! I find it fascinating how quickly the digital world has moved in terms of traditional banking (cheques weren’t really that long ago!) to internet banking, to mobile banking and now to mobile payments. My question regarding mobile payments however, is whether or not the general public will adapt to them as quickly as mobile banking has been accepted. I have heard a few queries on the safety and security on this latest invention. The older generation, in particular, is afraid of their money being stolen through the internet, and you really can’t blame them with the number os scams and digital hackers on the rise. Personally I think that mobile payments are great! I haven’t used it myself before as my phone isn’t equipped with the technology as yet, however I think that if I did own an appropriate phone that I would give it a go. I don’t believe that it will cause any more fraud than online shopping or pay-wave transactions. I’m yay for this new technology! In 5 years it will have revolutionised the way we pay, and who know’s where we’ll go to from there! Thanks for the interesting article!
    Fiona x


    1. Hi Fiona,
      Thanks for your comments, I appreciate you sharing your thoughts with me.

      Indeed mobile payment is an interesting toipc, and in just a blink of an eye, the world of digital has just moved too quickly. Sometimes, you feel like you can’t even keep up.

      In regards to your question, I feel that slowly overtime, the public will sooner or later be jumping on this train and using the mobile payments. We live in a world where we like convenience, integration and honestly, we’re quite lazy human beings. So if we can just ditch the carrying of a wallet, and just bring our phone everywhere we go, then it’s quite a bonus. As for that reason, I feel that the public will soon be adapting and using this form of payment.

      The older generation although may not be as tech savy as us, they are actually slowly catching up to us. They’re following on quite quickly with what is happening in the digital world.

      At work, we have an Eftpos machine, however it isn’t paypass/paywave/tap ‘n’ go compatible, so we still require customers to swipe/insert their card and use their pin number. From time to time, I will have quite a few customers who are of the older generation, and they often prefer using paypass. But since our Eftpos machine at work isn’t paypass compatible, most of the times, these customers of the older generation will comment saying that our workplace should really update our Eftpos machine to a ‘paypass’ one.

      Additionally, as I mentioned, ANZ were one of the last big four banks to offer mobile payments. Last year Apple introduced their ‘Apple Pay’, then at the end of this year, we’ll see the release of ‘Andriod Pay’, so it won’t be too long before all phones will become compatible with mobile payments in my opinion.

      Following on from mobile payments, do you feel that it will end there? Or do you think there will be another new method of how we can pay for things?


      Liked by 1 person

      1. Thanks for your insightful reply Teresa! In regards to your question, at this point in time I can’t see the digital world slowing or stopping anytime soon. I think it would be naive of me to assume it would end after mobile payments. What’s next? I’m really not sure, probably something we haven’t even imagined! I have no doubt that there will be another new method of paying for things, particularly at the fast rate the digital world is currently developing.
        It’s fascinating that the older generation at your work question why your EFTPOS machine isn’t updated, how wonderful that the overwhelming majority of consumers are embracing change.

        I look forward to what methods of payment we’ll be using when we’re 50!


  4. Hi Fiona,

    Thanks for getting back into contact with me.

    As you said, there is very small chances that the digital world would be stopping anytime soon. With convenience being a top priority for individuals, companies are always attempting to create new innovative technologies to help speed up the process.

    I came across an article the other day which talked about retailers being able to benefit from the wave of innovation that has appeared in the last few years. As retailers are often wanting convenience, innovative ways of making the checkout faster and secure is something that attracts customers. Customers are embracing the quick and easy contactless payment methods in stores, as seen with the new forms of mobile payments being introduced. Here’s the link to the article:

    I’ve noticed that several times at work, when customers say that they will pay with Eftpos, they will automatically attempt to paypass/paywave before I can say ‘please insert or swipe your card with a pin number’. It’s amazing how quickly we have all adapted towards the new forms of payments, that we just automatically attempt to tap our credit cards for the payments to go through, assuming that most places have now made the switch.

    Once again, thanks for commenting. Appreciate your thoughts.



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