Australia to take the next step in digital payments by allowing consumers to pay for products with their phones
Australia will allow consumers to make digital payments using their smartphones starting in January, according to an announcement made by the Federal Government.
Australia’s Minister for Communications, Mark Bailey, announced the launch of the new payment platform, called DigitalPay, at the Sydney Digital Technology Summit in February.
“Australians will have a new way to pay their bills online.
Australians are looking for a new, convenient way to do business,” Mr Bailey said.
It is hoped the new platform will ease the burden on consumers by allowing them to pay on the go.
While the launch is expected to ease the pressure on consumers, the rollout will be subject to a number of regulatory hurdles including whether it is compliant with the new Digital Payments Directive, and whether it meets the requirements of the Australian Competition and Consumer Commission.
In a statement on the launch, DigitalPay said it would enable Australians to pay online without needing to visit a bank account or a financial institution.
“DigitalPay will allow Australians to use their smartphones to pay using their mobile phones and tablets, without having to enter a credit card or other financial institution,” the statement said.
“There are also no additional fees or additional charges for using DigitalPay.”
It added that it was also making the service free of charge to consumers.
The service is expected on sale in Australia from January 12, 2018.