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Mobile Payments and Your Business


20 June 2018

Victoria Galloway

7 minute read

Mobile devices are now embedded in every stage of the path to purchase. This means that the quality of your mobile payments experience has a major effect on your overall business performance. Learn how you can optimise your mobile payments and help your business grow.

Bambora Au Blog Medium Image Mobile Payments Bambora Au Blog Medium Image Mobile Payments Placehoder

From product awareness and research to purchase and payment, mobile devices are now embedded in every stage of the path to purchase. As the shopping experience becomes more mobile, so must the payments experience.

After all, how you accept payments can shape customers’ opinion of your business in an increasingly mobile-centric Australia. A MasterCard study finds that 90% of Australians will regard your business negatively if you only accept payments in cash.

Mobile payments, specifically, are not only a great way to gain customers, but to retain them. As Australia moves towards a sophisticated digital ecosystem that seamlessly links mobile payments, personal financial management and smart POS, your loyalty programs could get a shot in the arm.

Mobile brings with it the promise to make value-added services such as loyalty programs, coupons, and redeeming more personalised and better timed to increase your conversion rate on sales. Many opportunities in this space are still untapped - Mobile Payments Today estimates that in the US alone, $US 160 billion of reward currency “lies dormant” because it’s too complex for customers to activate.

Mobile payments give merchants new ways to simplify the process and get ahead of their competitors, and as mobile payments become prominent in global markets, it becomes increasingly important for Australian businesses to follow.


Mobile payments encompass a wide range of transactions that take place via a mobile device as opposed to methods such as physical credit or debit cards, cheques or cash. Merchants can use this channel to accept payments through multiple channels: credit card, direct debit, EFT, BPAY, peer-to-peer payments, apps, phone, email and even bricks-and-mortar. Here are the most common types of mobile payment:

  • Mobile and online wallets: The most common examples are PayPal, Amazon and Google Wallet. Giving customers the ability to pay with a quick tap of the phone also gives your business a competitive advantage. The growing use of wearable devices such as the Apple Watch and FitBit pay is expected to boost mobile wallet payments.
  • Direct debit/transfers: Gives shoppers the option to proceed through checkout typically using a two-factor authentication. There’s no need for the use of a specific mobile app or pre-registration, making payments both fast and easy.
  • Contactless payments: Accept contactless cards and wearables as well as chip cards. From the everyday coffee to more high-value purchases, tap and go is among the most accepted mobile payment methods in Australia and continues to rise in popularity after it overtook cash payments in 2017.


With mobile payments having become an enabler of omnichannel payments, they have also created new opportunities to improve the customer experience and foster loyalty. Emerging trends such as connected homes and advancements in virtual and augmented reality are only expected to fuel the adoption of mobile payments.

Let’s look at how mobile payments can help your business grow:

1. Create new incentive programs and give existing ones a new lease of life

Loyalty programs do more than just offer perks to keep customers coming back. They can help your business harness priceless data to improve product development, marketing and customer service. With mobile payments, it’s easy to migrate independent tools such as loyalty cards and punch cards into a single device.

Besides rewarding your customers with points, freebies or discounts, you can even personalise your loyalty programs with location-based discounts for an unforgettable customer experience. A study by UrbanAirship, a digital customer engagement solutions provider, found that, “Well over 50% of shoppers in the US and UK are likely to visit a store if they receive coupon expiration reminders when they’re within proximity of the store’s location.”

2. Reach the right customers at the right time with mobile payments

Most shoppers only have to reach for their mobile phones when they want to research products, categories, locations and reviews. This makes the mobile phone a powerful tool for engaging with customers, targeting your messaging and enhancing the in-store (or online) experience once they finally zero in on your product or service. Less friction means better better conversions.

This transactional and behavioural data in turn gives you a gold mine of information to improve operational efficiencies. According to Forrester Research, 43% of online retailers don’t have a well-baked mCommerce strategy. This also means that the 57% merchants who have an mCommerce strategy of varying degrees, already have a competitive advantage.

3. Improve convenience and flexibility

The RBA’s 2016 Consumer Payments Survey shows that merchant categories such as food retailers, travel and holiday services, and transport have seen dramatic growth in the number of mobile payments, mainly because a mobile solution offers them flexibility on how and when they want to pay. This also increases the likelihood of customers completing the path to purchase with this newfound convenience.

Consumers across all demographics are using options like contactless cards more frequently with every passing year. This growth has been largely concentrated among younger Australians, but the RBA also says that, “The number of people aged 65 and over that made at least one contactless payment per week more than doubled between 2013 and 2016.”

4. Improve the shopping experience with trust, security and ease

Trust, security and ease are the three pillars of a positive shopping experience. These are also the things that will bring customers back to shop with you.

Mobile scores high on all of these fronts:

  • Trust can be built by using the checkout page to clearly display your compliance levels and payment company logos so customers don’t hesitate while completing their purchase.
  • Mobile payments are secure thanks to SSL encryption and PCI Level 1 compliance.
  • The ease and speed of payments is arguably the biggest reason consumers switch to mobile payments in the first place.

5. Mobile payments can improve operational efficiency

Joining the dots between what sells the most or why something doesn’t sell can be a massive challenge for small and medium businesses that don’t have enterprise-level data mining resources. Mobile payments solution providers can help you automate tracking so you can see data such as when sales for a particular product are the highest or what days of the week are the best to introduce a special offer. For example, an eCommerce store can analyse purchase patterns to discover that red shoes are the best sellers among shoppers aged 25-35 years so they can introduce more styles in the colour.


Not only can mobile payments help you grow sales, but one of the biggest perks of offering safe, convenient and optimised mobile payments is the customer loyalty you stand to enjoy.

Bambora’s mobile payments support all of these merchant goals, and more. You’ll find that our mobile solutions are quick to set up with payment functionality that supports:

  • Merchants with a mobile optimised site
  • Merchants with an in-app solution (where the consumer downloads an app)
  • Merchants with both

Merchants also love that Bambora’s fully embedded checkout solution via SDK renders payment pages completely customisable to retain the look and feel of their brand over multiple devices. This gives consumers a full, 360 shopping and brand experience throughout the transaction process.

Want to really grow your business with mobile payments? By optimising your mobile checkout that follows UX best practice, you can create a mobile checkout that converts.

At Bambora, we have online payment solutions that are built to grow your business from the inside out, helping you deliver a world-class cross-border and multi-currency customer experience that'll maximise your revenue. Learn more about how we can help your mobile payment strategy that makes on-the-go payments quick and secure, ensuring you never miss a sale.

To learn how mobile payments can help your business grow, get in touch with Bambora today.

About the author

Victoria Galloway is Bambora APAC's Technical Copywriter, and has been writing and producing in the payments and eCommerce space for a number of years in the UK and Australia.