 Amid an environment characterised by secure smartphones and wearables that allow people to pay digitally, b2cloud founder and MD Josh Guest said Apple Pay demonstrates traditional methods of payment are becoming obsolete.
“Unlike the US, where the technology is already being rolled out and companies are trying to catch-up, the Australian market now has the opportunity to prepare for its introduction,” he said.
“This means banks and other financial institutions can start educating retailers and customers on the new payment system and help them transition into the card-less economy.”
Apple’s new mobile payment system is expected to launch in the USA in October.
It will allow iPhone 6 and iPhone 6 Plus users to make purchases online and at some retail stores with a wave of their handsets or – eventually – with an Apple Watch.
Australia may get the system from late 2015.
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