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...

26 Aug 2019

  • 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...

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MARKETINSIGHTS Giving you the latest global and domestic developments 

affecting the payments landscape in Australia today.

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