6 Jan 2020

  • On September 2019, EMVCo published the White Paper on Payment Account Reference (PAR);

  • PAR is a new data element that is assigned to each unique PAN and used to link a payment account represented by that PAN to its affiliated payment tokens;

  • The purpose of PAR is to allow systems that need to uniquely identify a card or cardholde...

8 Oct 2019

  • In the payments landscape, there is a drive to improve the customer payments experience combined with the need for more efficient and scalable payment processing;

  • As FIs investigate the option of transitioning their back-end payments processing systems to the cloud, the security of payment data needs to be ensured;

  • In March 2019,...

2 Oct 2019

  • The global eCommerce market is worth A$2.8 trillion in 2019 and is expected to grow by 25% by 2021. Australian online business will see a 15.1% growth in revenue by end of 2019, with the number of online shoppers reaching 20.3 million;

  • A virtual credit card is a temporary and randomly generated 16-digit card number that is linked to a...

30 Aug 2019

  • The outcome of the 2008 financial crisis and Banking Royal Commission has seen historical lows of consumer trust in traditional financial institutions;

  • Neobanks are usually independently owned digital banks, not associated with the traditional banks. They have no physical branches and exist solely online;

  • Open Banking policy is s...

26 Aug 2019

  • Australia has embraced the convenience of contactless transactions, with one of the highest rates of adoption in the world;

  • In an open-loop contactless payment system, commuters pay their transport fares using their contactless scheme Visa, Mastercard or AMEX credit or debit card, smartphone (digital wallet) or wearables;

  • Transpo...

21 Aug 2019

  • Artificial Intelligence (AI) presents unique opportunities for the payments industry to streamline customer experiences, tailor service offerings and develop new service models;

  • In May 2019, AusPayNet made a submission to the Data61 consultation, Artificial Intelligence (AI), Australia’s Ethics Framework;

  • In August 2019, AusPayNe...

19 Aug 2019

  • A QR code payment is a type of contactless payment method where consumers and merchants can initiate payments by scanning the QR code at point of sale;

  • The strongest adoption of QR codes for payments has been in Asia, with China witnessing impressive growth. The use of this payment method has not seen massive adoption outside Asia;

  • ...

12 Aug 2019

  • Digital transformation is the integration of digital technology into all areas of a business, resulting in fundamental changes to how businesses operate and how they deliver value to customers;

  • Companies are looking to cloud technology as a way of delivering flexible and on-demand access to the resources underpinning these new digital...

6 Aug 2019

  • One in five global transactions are now digital, with online commerce growing at over six times the rate of in-store sales;

  • Globally, retailers are expected to lose around $130 billion in digital card-not-present fraud between 2018-2023;

  • Network Tokenisation is an example of a technology being adopted by Issuers and Merchants to...

10 Jul 2019

  • Automatic payments are payments debited by a service provider from a customer's bank account or credit/debit card for an agreed amount and frequency;

  • The service provider must gain the customer’s authority, one time upfront, to debit funds on an ongoing basis. Automatic payments will continue until the customer withdraws their permiss...

27 Jun 2019

  • Facebook will launch its global cryptocurrency, called Libra, in 2020. This digital currency will be built on Blockchain technology;

  • Facebook’s new subsidiary, Calibra, will create a digital wallet that will store the Libra cryptocurrency. It will be integrated into both Facebook Messenger and WhatsApp, and will also have a standalone...

27 Jun 2019


  • In the UK, NatWest and RBS are trialling a contactless payment card with a built-in fingerprint scanner, which matches against the...

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