While 62 percent of the Australian businesses believe that alternative currency platforms are critical and risky, the remaining 45 percent of those organizations said that they are contented or more than contented with its services.
Through a research study commissioned by HCL Technologies and conducted by Roy Morgan Research in Australia, most frequent users of electronic payments are businesses in the retail trade, accommodation and food service industries, and organizations with an annual turnover in excess of $1 million or with more than 20 employees.
Michael Horton, Country Manager of Australia and New Zealand, HCL Technologies Ltd., said that this research reveals that more than half of the businesses will consider changing the relationship for better pricing of services. Companies will recognize and accept the convenience and other advantages that this trend offers, and will soon use it regularly like the traditional payment platforms.
On the other hand, according to the March 2015 update of Business Attitudes to Electronics Payments Systems, non-users of the digital currency platforms find the practice extremely dangerous to their businesses. In fact, in Australia, amidst the importance of digital platforms and the advantages that it offers, few relative organizations are aware of the new platform. Australia’s New Payment Platform (NPP), a SWIFT edge due to start in 2017, will facilitate real-time electronic payments between buyers and sellers. This platform, like any other digital currency systems, will open up opportunities for new services; improve the payments processes and direct payments. This will be possible using a specific account using phone numbers or email addresses.
Even people who heard Australia’s NPP, but not actually tried it, have positive reviews on the said trend. The study also found out that five percent of organizations are aware of this new platform, while 22 percent say they have a bit information about it, but are not aware of the details. The said number of people are willing to give digital currency platforms for they believe that it will help them in their businesses.
As this trend develops, the users’ needs will be unending, especially their demand with convenience, speed, and security of their business transactions. With other potential platforms that are soon to emerge, there is a lot more to expect from the current digital platforms.
This research study is an initiative of HCL Technologies and conducted by Roy Morgan Research. It is the March 2015 update of Business Attitudes to Electronic Payment Systems, involving 20,000 Australian executives representing status of businesses and other industries in Australia.