itnews

Australian Banks Preparing for Major ATM Fleet Cull

Thousands of bank-branded automatic teller machines that line the halls of shopping malls, service stations and main street branches are poised to be scrapped as Australia’s major retail institutions prepare to outsource cash distribution, most likely to a new collective utility player.

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Bankwest Accelerates Shift to Digital Cards

Australian retail banks are accelerating their push towards deploying virtualised payment cards to replace vulnerable legacy plastic, as the pace and scale of breaches intensifies sharply.

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Amex Digitizes Aussie Corporate Cards: Integration Not Included

Credit card pure play American Express has launched an aggressive virtual play to shore-up its lucrative corporate expense card business in Australia by giving customers the option to dump plastic in favour of digital wallets with real-time desktop controls.

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RBA Prepares to Punish Bank Outages, System Upgrade Delays

The Governor of the Reserve Bank of Australia (RBA), Philip Lowe, has issued the strongest warning yet that if Australia’s big banks and credit card schemes don’t address ongoing technology outages and upgrade lethargy, the central bank will intervene through regulation.

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Visa to Stop Australian Online Merchants From Storing Credit Card Numbers

Australian internet stores will be stripped of their ability to store consumer credit card numbers on in-house IT systems under a radical payments security overhaul launched by Visa this week that mandates the use of tokens for online transactions.

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UK Banks May Have Two Days to Recover From IT Failures

British banks and other financial services firms have three months to explain how they can avoid damaging IT breakdowns and respond to the growing threat of cyber attacks.

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Banks Not Ready for Blockchain, Says Ripple

Banks are unlikely to use distributed ledgers to process cross-border payments for now because of scalability and privacy issues, according to Ripple, one of the most prominent startups developing the technology. I will concede, we havent gotten there yet, Ripples chief cryptographer David Schwartz said in an interview.

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