The Five Online Payment Trends to Watch in 2011

Article excerpt

PAYPAL Australia's MD Frerk-Malte Feller has blogged about the trends he is seeing in the market.

He said mobile commerce will be a big area of growth in 2011. In Australia, it grew 12-fold in 2010, reaching a value of $35 million up from just $2.7 million in 2009.

C[pounds sterling]Mobile payments enable eCommerce merchants to expand their offerings and create new experiences on the phone Co a trend we expect to see continue as mobile blurs the line between offline and online,C[yen] he said.

It's new, but the era of IP connected TVs is upon us and the sector is poised for dramatic growth according to Feller.

He said 2011 would continue to be all about Cyapps', a global market expected to grow to $35 billion by 2014.

Social shopping is starting to take off, with group discount sites such as Cudo, Spreets and JumpOnIt performing well.

C[pounds sterling]2011 will be an incredibly exciting year for online payments in Australia and we are certainly moving closer to my vision of a cashless society. In five years or less, we will do everything from catch a bus to work, buy our lunch, download a news article, pay our personal trainer and order a takeaway, all using a web-enabled device and a couple of clicks.C[yen]

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