Although my clients running our paypal interface are reporting very poor results, it appears that there are soon going to be more players in the market besides the existing banks such as Facebook. With Facebook massive user base of almost 9 million in Australia, it certainly has a great user base and with the increasing shift to mobile transactions (card less) it is particularly well-positioned to offer mobile payments. They are not alone Apple, Google and Amazon are all developing electronic wallets for Australia that will let consumers pay for goods and services with their phones, rather than use a card.
Whatever happens whether they make a major chunk of the Australian market, it is clear now that mobile phone will replace the credit/debit card. What you need to do is make sure that your EFTpos machine can handle these mobile payments.
