Original article by Roy Morgan
Market Research Update – Page: Online : 27-Oct-21

The latest Roy Morgan Digital Payments Report shows that 15.7 million Australians aged 14+ (74.2%) are aware of online payment platforms such as PayPal, Visa Checkout, masterpass and Western Union. Of the four leading online payment platforms PayPal is the clear leader with 72.5% of Australians aware of the platform. Some 23.6% are aware of Visa Checkout, followed by Western Union (16.4%) and masterpass (16.3%). The COVID-19 pandemic has provided a huge boon to online retailers, and this has also driven the increased usage of online payment platforms such as PayPal. Now 47.3% of Australians have used PayPal in the last 12 months, up nearly 10% points from 37.8% in February 2020 just before the pandemic hit Australia. Usage of PayPal had been at 40.5% of Australians in January 2018 and gradually increasing before peaking at 42% in June 2018. From mid-2018 usage of PayPal had begun to gently decline as newer forms of payment such as buy-now-pay-later services gained an increasing share of the digital payment market. Over three-quarters of Australians, 16.5 million (78.1%), are now aware of buy-now-pay-later services such as Afterpay, Zip, Latitude Pay and Humm. However, usage of these services is far lower with only 3.5 million Australians (16.6%) using a buy-now-pay-later service in the last 12 months. These new digital payment findings are from Roy Morgan Single Source, Australia’s leading consumer survey, derived from in-depth interviews with around 50,000 Australians annually.

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