7 May 2018
Financial Times; PR Newswire
Deutsche Bank to pilot new way for Europeans to buy airline tickets online – no card needed – by end-2018; supported by PSD2 and forthcoming fast payments system, TIPS
An ‘old product’ can do new tricks: Splitit brings credit purchases to American debit cardholders: targets millennials who prefer debit to credit cards
27 Apr 2018
ASX releases consultation paper outlining scope and implementation timetable of DLT system to replace CHESS; submissions due 22 June 2018
Estimated go-live between Q4 2020 and Q1 2021
Is DLT gaining momentum as a credible technology for post-trade services?...
18 Apr 2018
Bank of England
Bank of England anticipates ‘wider access’ to RTGS Settlement Accounts will increase competition and innovation in payments, and promote financial stability
Early step in Bank of England’s RTGS Renewal Programme, designed to improve strength, resiliency, flexibility and promote innovation in RTGS
UK and Australian regimes both su...
10 Apr 2018
Pigzbe announces first cryptocurrency ‘piggy wallet’ for children to receive, save and spend pocket money
Gamified digital money apps for kids are emerging to teach digital financial literacy in an increasingly less-cash world
Children are ‘traditional users’ of cash, so could these apps accelerate declining cash use?
4 Apr 2018
Productivity Commission recommends Payments System Board ban all card interchange fees, by mid-2019
Reserve Bank conducted extensive Review of Card Payments Regulation over 2015/16; new interchange standards came into force on 1 July 2017
International experience highlights that bans on interchange can have unintended consequence...
9 Feb 2018
WhatsApp the latest entrant to Indian mobile payments market, joining Google and Paytm
Mobile payments continue to shift from prepaid e-wallets to UPI apps
UPI infrastructure similar to NPP; perhaps an opportunity for a QR code-based NPP merchant overlay service
Point of View
WhatsApp launched person-to-person...
13 Jan 2018
Open Banking Implementation Entity, European Commission
Open Banking in the UK launches, as PSD2 regulations enter into force, on 13 January; however, six of nine UK banks not ready
UK consumer watchdog reports 92 per cent of consumers unaware of ‘open banking’
Treasury-commissioned independent Review report due out soon; what could the Australian open-banking framework look like?
9 Jan 2018
Google Pay, the new streamlined brand for paying with Google, in store, online and in-app
Is it a grab for market share from Apple and Amazon?
Could the changing regulatory environment entice the tech giant further into financial services in Australia?
Google Pay is the new streamlined brand for a...
5 Jan 2018
People’s Bank of China regulates QR code payment processors, including Ant Financial and Tencent
Could the rules and a new product from UnionPay foster NFC growth in China? And perhaps change how Chinese travellers expect to pay?
QR code payments unlikely in Australia, except under certain circumstances – maybe?
28 Dec 2017
WeChat and Guangzhou government issue virtual national identity cards, to replace physical cards
Requires a user to validate themselves through the WeChat app, using facial recognition
What are the possible lessons for a digital identity framework in Australia?
Source: China News
The latest foray by WeChat is into p...
13 Dec 2017
Credit Card Reviews
Card schemes to drop signature requirement for EMV cards in North America, from April 2018; schemes say biometric and EMV technology could limit any fraud rise
Biometric authentication could improve both convenience and security of online and mobile payments
Privacy a major consideration when implementing biometric frameworks
8 Dec 2017
Cryptocurrencies surge, authorities crack down, central banks consider issuing own currencies
Myriad ‘real world’ blockchain use cases emerge: ASX & SWIFT post-trade services, B2B cross-border payments, blockchain smartphone
Have we reached a tipping point with blockchain technology?
6 Dec 2017
nanopay announces new B2B service: Canada-US cross-border and domestic payments
Solves for B2B friction: instant transfers, lower fees, more transparency, open API, ISO 20022
Could NPP provide opportunities for a similar service in the future?
Canadian fintech firm, nanopay, has announced new...
26 Nov 2017
Department of the Prime Minister and Cabinet
Consumer Data Right to be legislated in Australia: Government accepts Productivity Commission recommendation
Customer consent will be a key issue in the development of an open banking framework
Can lessons be learned from Europe and UK open-banking experiences?
As we experience a paradigm shift across t...
23 Nov 2017
Starling Bank cardholders accrue loyalty rewards with Yoyo just by using their card; other banks’ customers must instead use the Yoyo app at the point of sale
Customers collect loyalty rewards and make purchases seamlessly through the Yoyo app, by presenting their dynamic QR code to merchants for scanning
In Australia, Stocard is...
MARKETINSIGHTS Giving you the latest global and domestic developments
affecting the payments landscape in Australia today.