Preferred Payment Methods in Australia

Read below about payment methods And how to increase conversion by offering the most convenient online payment methods when selling goods online in Australia

Find out more about online payment methods in Australia and how to increase conversion here.
Domestic and Preferred Card Schemes
• Visa is the marginally preferred credit card scheme in Australia, with 45.1% share.
Alternative Payment Methods
• E-wallets are service providers that enable users (merchants / customers) to store or add money to their “virtual wallet”. Money can be loaded from several sources like credit card or an online bank account. Some e-wallet providers let users store credit card or debit card information. Through an e-wallet, users can do online purchases, transfer funds between users of the e-wallet or transfer funds to third party accounts. Examples of e-wallet services are PayPal, Visa Checkout and Masterpass.
• POLi is a real-time bank transfer service in Australia that lets merchants accept payments from customers with an Australian internet bank account. When paying, customers just click on the POLi payment method on the merchant’s website and then they will be asked to login to their online bank account. Customers do not need POLi registrations nor entering personal information when paying for a purchase made on POLi affiliated merchants.
• Cash on delivery lets customers pay for their purchases by cash upon delivery.
• BPAY is Australia’s online billing service. The Australian Payments Clearing Association considers BPAY a separate payment method in paying of bills. Through BPAY, customers can pay for their bills using their bank accounts or credit card through mobile banking, online or phone. Merchants need to be BPAY billers to be able to send a bill to a customer. As of February 2014 there were over 1.6 million customers using BPAY service.