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ParraSync application beats out competitors to take home award

05/02/201205/02/2012 Stephen Vagus

Parramatta’s mobile payment system considered a revolution for commerce A small suburb in Sydney, Australia, has managed to win an award for its mobile wallet initiative, beating out staunch opposition from Google and the country’s Commonwealth Bank. The suburb of Parramatta has developed its own mobile payment system called ParraSync. The system can be used with physical payment cards as well as smart phones and other mobile devices. Both mediums must be equipped with NFC chips in order to conduct mobile payments. The system has been singled out for its…

Commonwealth Bank sees major rise in NFC payments in Australia, Telsyte suggests merchants will be slow to warm to mobile commerce

03/26/201203/25/2012 Stephen Vagus

Mobile commerce is gaining momentum in Australia, according to The Commonwealth Bank, the country’s largest financial institution. The bank announced this week that mobile payments have more than quadrupled in the last year, logging more than 1.3 million transactions during December alone. The bank notes that the availability of NFC applications has also risen by 30,000 over the same time period. This indicates that mobile commerce may be gaining ground with consumers in Australia, but research firm Telsyte claims that the concept is not very popular with merchants. Mobile commerce…