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Mobile Wallet Adoption: Asia Outpacing West as Crypto Rises

Mobile wallet adoption in Asian markets like China, India and Taiwan is much higher than in the US, the UK and Germany, finds GlobalData. According to a new survey published by the company, increasing popularity of smart devices has enabled rapid adoption of mobile wallets in the region, and they are now gradually replacing cash […]

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India Making Plans to Launch Its Own Government Backed Cryptocurrency

Despite its best efforts to keep crypto out of India, it appears that the Indian government is still not willing to completely exclude cryptocurrencies. According to the new announcement, India is making plans to launch its own digital currency.

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NAB, Westpac and CBA’s Instant Payments App Beem It Appoints CEO

Beem It – the venture behind an app which allows people to make instant, peer-to-peer payments without the need for a BSB number or account details – has appointed its first chief executive officer. Angela Clark, former executive general manager for small business at Commonwealth Bank of Australia (CBA), was named as the firm’s CEO […]

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CBA, Data61 Partner for Blockchain-based NDIS ‘Smart Money’ Prototype

The Commonwealth Bank of Australia (CBA) and CSIRO’s Data61 division have partnered to develop an app that could be used to impose ‘smart money’ limits on the spending of funds provided through the National Disability Insurance Scheme (NDIS). Smart money can include conditions that limit when and on what it can be spent, as well […]

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60% of Aussies Predict E-Commerce Revolution

A recent study has revealed that 25 percent of Australians expect the retail industry to be mostly online in the near future, with a further 35 percent saying they think it will happen within five years.

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$50,000 Lost to Bitcoin ATM Scam in Australia

Scammers conned $50,000 out of regular Australians using a blatantly obvious fake tax debt fraud. Multiple victims have been lured into paying off non-existent debt through Bitcoin ATMs. A Time-Tested Scam Scammers have managed to con upwards of $50,000 from Australian citizens, luring them in to pay off a non-existent debt in a classic fraud.

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In Singapore, Cross-Border Mobile Payments Via…Via 

Cross-border payments continue to make inroads in Asia, rendered through mobile means. To that end, the largest telecommunications carrier in Singapore, Singtel, said this past week that it launched Via, billed as the first cross-border payment alliance in the region.

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Westpac Rolls Out Mobile Cheque Deposit

Cheques are often considered a thing of the past, but now a new feature from Westpac is taking cheques forward into the digital age. In an Australian banking first, eligible customers can now scan and deposit cheques from their smartphone using Westpac Mobile Cheque Deposit.

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Mobile Payments Surge Among Chinese Travelers: Alipay

Popular overseas destinations for Chinese consumers saw mobile payments surge during the week-long Chinese public holiday between October 1 and 7, according to Alibaba’s mobile payment arm Alipay.

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CBA Pays Up to Keep Banking Services in Post Offices

NAB, ANZ and Westpac are under pressure to pay Australia Post to offer banking services as a way to restore public trust and maintain services in regional areas after Commonwealth Bank agreed to fork out $22 million every year.

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New Digital Bank “Up” Launches in Australia

New digital bank Up has officially launched in Australia today following a successful two-month beta trial with more than 1,500 customers. Up is a fully-digital, cloud-hosted bank run through an app offering multiple savings accounts, called Life Savers, with an interest rate of up to 2.75 p.a. and no fees.

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A Definitive Guide to Southeast Asia’s Payments Scene in 2018

In fintech’s genesis across Asia, it seemed like all of the new developments were focused on streamlining payments without coincidence, around the time that e-commerce experienced its boom too.

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