As central banks mull the case for a new form of electronic money,new RBA research suggests digital dollars could cut paperwork and manual processes in wholesale markets.
The nation’s payment system is rapidly changing in the face of emerging technologies. The Coalition plans sweeping reforms to improve its operation.
A start-up backed by former ANZ Bank chief executive Mike Smith is eyeing the transactional banking market with a new payments app.
PayPal is exploring an acquisition of Pinterest,in what could be the biggest technology deal of the year and move the company closer to its ambitions of becoming a “super app.”
Australians will soon be able to pay for their groceries by scanning a QR code,with payments provider Eftpos to roll out the new checkout option by Christmas.
Mastercard will launch new technology allowing lenders around the world to offer buy now,pay later products,as instalment payments pioneered by Afterpay go mainstream.
Fast-growing Australian payments startup Airwallex has secured a fresh round of funding,valuing it at $US4 billion ($5.5 billion) on paper.
The buy now,pay later darling says cryptocurrencies could wipe out a range of fees charged by banks and card schemes.
Suncorp is the latest bank to offer customers a buy now,pay later service,as products that mirror those pioneered by Afterpay become more mainstream.
The Commonwealth Bank’s spat with Apple underlines the potential threat to banks from deep-pocketed tech giants.
Robbie Cooke,boss of the largest provider of Eftpos terminals outside the big four banks,says state premiers need to reopen borders once 70 per cent of the nation is vaccinated.