Methods of Payment

For exporters to succeed in today’s global marketplace and win sales against foreign competitors, they must offer customers attractive sales terms as well as appropriate payment methods. As getting paid in full and on time being the ultimate goal for export sales, appropriate methods in selling must be chosen carefully to minimize payment risk whilst also accommodating the needs of buyers.

What are the different methods of payment in Australia?

There are many ways that consumers make payments in Australia. Some of the most commonly known ways of payments include:

Apple Pay:

- Simple to use.

- Works with devices you use every day.

- To use it you just pay with a touch in stores.

- This works within selected apps on participating websites.

- As card details are never shares, payments made from IPhone, Apple Watch, IPad and Mac, it is safer and more private to pay using Apple pay.

Google Wallet:

- Fast and a free way to send money through the app using Gmail or at the website (

- With this you can send money to someone by just using their email address or phone number, in this case they do not need to have Wallet app.

- You can receive money directly in your bank account by setting default payment methods.

- No need to manually cash out.

- You can keep track of shared expenses – easy way to keep track of who still needs to pay you back.

- Can be used for occasional commercial transactions including collecting rents, accepting payments for services.

Pay Pal:

- Safer, easier way to pay stuff online.

- It is free and simple.

- Makes payments without exposing card details to online shops.

- 24/7 anti-fraud and anti-phishing monitoring.

- Store all details – no need for carrying around.

- Don’t charge when you are shopping with retailers that accept PayPal.


- Uber connects you with a reliable ride in minutes.

- One tap and a car comes directly to you.

- Payment is completely cashless.

How is NPP different from our current payment platforms?

The NPP is a major industry initiative to develop fast, flexible, date rich payments in Australia. It will comprise a basic national infrastructure which all financial institutions and through them businesses, government and consumers connect to. This will grant payments to be made quickly between financial companies and their customers accounts. This system will empower funds to be available as soon as payment is received, even when the payer and payee have different financial company accounts. The NPP is now sending cash and will become more like using Uber. Within 2017, a new system will transform, including how you will pay for everything starting for second-hand goods to motorway trolls.

How is NPP going to impact Australian consumers?

Rather than having simple secure identifiers they will have to keep giving people the old cumbersome BSB and account numbers.

They won't be able to request money from other users which can be accepted and delivered almost instantaneously with a couple of clicks. For kaskell clients the NPP solution will do it all for you exchanging multiple instant messages between your core banking system and the NPP addressing service so the company and customers experience simple seamless payments

Customers need to make sure that their details are up to date so they can reap all the benefits the NPP has to offer

Based on your research into modern methods of payment, which method/s do you think will be commonly used in the future. Provide linkages to recent media articles or valid websites to support your claim:

Based on the research found, the most common method of payment that will become commonly used within the future is mobile payments. According to Raconteur:

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