Australia’s ANZ Bank says that its goMoney mobile-to-mobile payments app has reached A$100 billion in transactions since its launch in late 2010. GoMoney enables users to send funds to anyone with an Australian bank account by entering the recipient’s mobile phone number. Customers can also pay bills, move money between their accounts and check their balance and transaction history.
The app now claims 1.4 million users, with 88% aged between 18 and 44. According to ANZ, users make an average of one million log-ins a day, meaning that it accounts for 62% of all digital log-ins by ANZ customers. More than 60% of ANZs customers now use mobile and online channels, and perform three times as many basic transactions online than in branches each year.
Matt Boss, managing director of products and marketing at ANZ, said: “Digital and mobile technologies have changed the way people behave and interact, creating an expectation that everything should be easy, frictionless and intuitive. Banking is not immune from this digital disruption. With customers wanting to access their money when and where it suits them, we’ve had to use technology and innovation to serve our customers in this new digital age.”