Scams are more nuanced now. Deepfakes are more convincing. And at a time when one-click checkouts and real-time payments are the norm, security has soared far beyond being a mere ‘tech team problem’. In Mastercard’s January 2025 global survey of more than 5000 small business owners, 79 per cent said effective cybersecurity is critical to… Read more »
The Reserve Bank of Australia (RBA) would be given expanded regulatory powers over bring digital wallets, buy-now-pay-later (BNPL) companies, and crypto assets under proposed reforms to national payments systems legislation published this week. In a statement, Treasurer Jim Chalmers said the reforms “[address] the risks posed by new digital payments services, which are currently unregulated, to… Read more »
Buoyed by dramatic changes in the way consumers pay for goods and services, Australia’s payments processing ecosystem will be overhauled based on a new strategic plan that includes the phasing out of cheques and full transition to the New Payments Platform (NPP). The newly launched Strategic Plan for Australia’s Payments System – developed through consultation with regulators,… Read more »
As inflation and interest rates continue to rise, digital banking alternative Yondr is stepping up to help Australians save on hidden fees and budget better. Backed by former ANZ CEO Mike Smith, the fintech startup was developed and founded by Shane Chanel in 2018. Bringing more than 15 years of experience in finance and banking to… Read more »
The Australian Government is looking to embrace cryptocurrency and digital assets with federal treasurer Josh Frydenberg announcing plans to investigate the feasibility of a Central Bank digital currency, as well as the existential fintech terror of de-banking. Speaking at the Australia-Israel Chamber of Commerce on Wednesday, Frydenberg said his plans “were most significant reforms to… Read more »
Digital wallets use has jumped 90% in a year, and the amount paid has risen 110%, pushing it towards becoming the most popular contactless way to pay according to new analysis from the Commonwealth Bank. Digital wallet usage is the 12 months spanning the coronavirus pandemic to March 2021 saw transactions rise from 36 million… Read more »
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