Public document released by the Central Bank describes measures to be taken by the company in order to disproof malpractices
Australia holds one of the biggest e-commerce markets in Asia and the Pacific. In 2017, Australians spent 1,169$ US per capita online. In comparison, they spent 24,535$ US per capita at point of sale. Australians often shop on international websites. Today, there is a growing number of local providers in E-commerce. The M-commerce market is expected to more than double in the next four years.
Credit card payments through VISA, MasterCard and American Express take up 37% of the market share as the most popular payment method. The cards are typically used with a loyalty program. Another common method of payment is through e-wallets such as PayPal. Mobile wallets were used to pay for 18% of Australian e-commerce transactions in 2017, and 2% of point of sale transactions. It is therefore important that both of these methods of payment are offered in online shops wishing to sell in Australia. In addition, the transfer method POLi, the billing type BPAY and cash on delivery are highly in demand.
Australia is among the countries that are most likely to make overseas purchases, alongside Canada and Russia. In 2016, 20% of Australian e-commerce was cross-border. Imports mainly originate from the USA, Great Britain and China. Since 2013, the E-commerce market is growing in the cross-border area.
The fraud risk has risen sharply in recent years, fueled mainly by the fast growth of the E-commerce market. More and more transactions are carried out online. Fraud protection is often the second step. With the implementation of PCI-DSS standards and the use of 3D Secure, Australia has good basis for a solid fraud protection.
Credit card 37%
Bank transfer 17%
Debit card 12%
32 Mrd. USD
Population: 24.6 Mil.
Internet Usage: 92%
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