Global payments giant Worldpay has set up an operation in Australia to process payments in the country’s $42 billion ecommerce market.
Worldpay, which has just won its licence to process payments in Australia, says it has expanded into the Australian market as a number of global companies including global fashion website ASOS, Expedia, Cathay Pacific Airlines, Digital World International and Freelancer, already trading in Australia, have turned to it for payment processing here.
The company says ecommerce in Australia accounted for $42 billion of the country’s GDP in 2015, and that Aussie consumers lead the world in eWallet adoption, which is favoured by 21% of shoppers buying goods online.
“Consequently, Worldpay is ideally placed to help merchants across Australia capitalise on opportunities presented by a market with high Internet penetration and a technologically-savvy consumer base,” the company says.
{loadposition peter}Worldpay says it is going through a period of sustained growth globally, processing 13.1 billion transactions with a transaction value in 2015 of £401.9 billion (A$593 bn approx).
Shane Happach, Managing Director, Global eCommerce at Worldpay, says Australia is a “tremendously exciting market with lots of growth opportunity”.
“We have quickly found merchants trading in Australia are hungry for a payment solution that can help them drive up conversion rates and drive down the costs of running an online business across multiple markets.
“These attributes, together with the data insight and range of alternative payment methods we can offer merchants trading in Australia, gives us a clear edge in the market which we hope to capitalise on fully in the years to come,” Happach says.