Inspiry, a Chinese mobile payment solution provider, has launched its self-service QR-code payment terminal dubbed Inspiry Smart Box in Sydney.

The terminal has already been installed at the city’s shopping malls, supermarkets, restaurants, cafes and jewellery shops.

To make a transaction through the Inspiry Smart Box, users need to scan the QR-code generated by their smartphones.

Inspiry International COO Gao Zilong said: “In addition to serving the Chinese residing in Australia and Chinese visitors who prefer QR code payment, Inspiry also aims to help boost the development of Australia’s payment industry with Chinese offline mobile payment solutions.”

“As an easy-to-deploy, easy-to-use and efficient solution that costs the merchant little to install, mobile QR code-based electronic payment connects online and offline mobile internet services, offering huge potential for added value services to local businesses,” Zilong added.

The launch of the new payment terminal in Sydney is said to be indicative of Australia’s rapid growth in the mobile payment space.

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Australia ranks as the sixth largest country across the globe in electronic payment adoption, according to data from the country’s central bank.

At the same time, cash transactions were found to decline in the country.

In 2007, cash transactions constituted 69% of consumer payments in the country. In 2016, the same accounted for 37% of the country’s consumer payments.