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The Big Short: More Drama for Banks

Large investors have been understandably negative on the sector as, over the past year in particular, the bad news has outweighed the positive. There has been increasing evidence that credit growth is slowing and that this will continue through this calendar year.

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Banks Cull ATMs as More Customers Ditch Cash

Banks removed hundreds of ATMs in the latest year, as the industry responded to a scrapping of withdrawal fees and consumers further cut their use of cash.

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California Dreaming: Why Aussie Fintechs Are Looking Abroad

Peter Colbert believes Australia may be too small for the number of fintech companies it is producing. “There are only so many people in our country: 26 million, and that includes one year olds. What’s the real number of potential customers out there?” the founder of contactless payments company Inamo says.

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Cashless Future Is Here, With Coins and Banknotes to Become ‘Niche’

Our own habits show how far the cashless economy has shifted from speculation to reality. Illustration: Matt Golding Credit: Sydney train commuters now board via their bank cards, meat pies are bought on debit from hundreds of school canteens, tap-and-go 3 Wiggles car rides litter suburban shopping centres.

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Vodafone Taps Chinese Tourists With Alibaba Payments App Deal

Vodafone Hutchison Australia has quietly signed a deal with Alibaba-founded payment company Alipay in a bid to tap into the lucrative Chinese tourism market. Thousands of customers have already used a Vodafone discount promoted through the Jack Ma-created payment app since its introduction in stores on October 8.

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Paper-free Payments: Australia and NZ Work on E-invoicing Standard

Paper bills are one step closer to being eliminated, with Australia and New Zealand looking at ways to create trans-Tasman standards for electronic invoicing.The two nations are hoping to save $30 billion over 10 years by driving the adoption of e-invoicing by governments and businesses to achieve more streamlined payments.

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