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;
The UK’s Financial Conduct Authority and Payments System Regulator have published their business plans for 2019/2020;
Retail Banking and Payment sector issues including scams, access to cash and operational resilience are areas of key focus;
In the context of the UK’s withdrawal from the European Union, the UK Government has sign...
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...
MARKETINSIGHTS Giving you the latest global and domestic developments
affecting the payments landscape in Australia today.