Mobile financial services to help customers transact instantly are seeing greater demand and rollout amongst Australian financial institutions during the pandemic, although the institutions are slow to adopt next-gen digital offerings such as fraud alerts (21%) and voice-activated fund transfers (15%), according to a new report.
Digital global domestic money transaction values are exploding around the world, with a new market report forecasting the value of transactions will exceed US$3.5 trillion by 2024 - up from US$1.8 trillion in 2019.
Smartphone enabled tap and go usage for transactions will take off in Australia over time, according to a senior partner from professional services firm Deloitte which has just released its study on the latest trends in the Australian mobile consumer market, including the growing shift to biometric smartphone security.
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