Australia-New Zealand

Mobile Payments Plan Clicks With Bank Clients

SHOPPERS are tapping their smartphones and flicking their wrists in droves as Australians embrace modern ways to pay. Department stores, delivery services, liquor outlets and hardware stores are among the most popular shopping categories where mobile payments – using a smartphone or smartwatch – are being used.

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Australian Neo Bank 86 400 Begins Beta Testing Ahead of Launch

Having rounded out its technology suite and begun beta app testing, Australian neo bank 86 400 has started a waiting list for prospective customers and opened up to talks with future investors.

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Australian Neo Bank Xinja Returns to the Crowd

Australian mobile banking startup Xinja is returning to the crowd in a bid to raise a further $5 million from private investors as it prepares to apply for a full banking licence.Xinja has so far raised $4.4 million (including an earlier $2.

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Are Australians Going to Embrace the New Digital Banks?

The next generation of banks is getting ready to open their doors. A considerable number of Australians have never switched banks: 40%, according to a November 2018 study from F5 Networks.

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US Crypto Exchange Wants a Piece of the Aussie Market

U.S.-based cryptocurrency exchange, CoinZoom, has announced it will enter Australia after its wholly owned subsidiary, CoinZoom Australia, gained approval from financial regulator AUSTRAC. CoinZoom anticipates its Australian platform will go live in the first quarter of 2019.

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More Aussies Swapping Bank Branches for Mobile Banking

When was the last time you went into a bank branch to make a transaction? The odds are much better that your last bank transaction was made on a mobile device, according to new research from Roy Morgan.According to the Roy Morgan Single Source Survey, over an average four-week period in the six months to […]

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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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Afterpay, Zip Pay and Others Cause Financial Strife for ‘Young’ Shoppers: ASIC

One in six customers who use payment methods like Afterpay and Zip Pay are in financial trouble – whether it is being overdrawn, delaying bill payments or borrowing more money to pay off their debt. The customers are also typically young, with 60 per cent of them aged between 18 and 34.

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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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‘We’re Tech Companies’: The Neobanks’ Advantage

A big advantage that neobanks have over the big four is that they are nimble and highly scalable technology companies focused on customer experience, according to the co-founder of Up.

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Cash Is Dead, Long Live Cash: The Problems With Australia’s Digital Ecosystem

Reserve Bank governor Phillip Lowe has warned banks and telco giants there may be a need for tighter regulation to ensure the reliability of Australia’s digital payments ecosystem if key players can’t do a better job preventing outages.

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Australia’s New Payments Platform Marks Rise in Transactions but Pace of Rollout by Major Banks Is Slow

RBA Governor Philip Lowe says there are now around 400,000 NPP transactions per day, and more than 2 million PayIDs have also been registered. Australia’s New Payments Platform (NPP) marks rise in transactions but rollout by major banks is slow, Philip Lowe, Governor of the Reserve Bank of Australia said in a speech today.

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