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Australia - Prepaid Electronic Payment Services Market
Paul Budde Communication Pty Ltd., Oct 2008, Pages: 10
Prepaid telecommunications products are a significant component of the telecom pie. In 2008 the total Electronic payment systems market is worth over $3 billion. Prepaid mobile is the largest proportion of this amount, followed by calling cards, Broadband, Music, gift cards as well as premium SMS services. EPS has changed the way these prepaid services are sold. The current Australian model involves PINs being ordered, delivered electronically to electronic payment service providers, decrypted, stored securely, paid for, and dispensed to the customer on a demand basis; the customer then keys the PIN into their phone. The arrival of rechargeable magnetic cards is a major new marketing development. After the collapse of Bill Express the market is dominated by e-pay Australia, with the banks starting to form the 2nd largest group competing in this market.
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