Australia-New Zealand

Aussies Ditch Physical Money for Card Payments

Cash is on its last legs. But the rise of card payments is making life very easy for fraudsters. Should you be worried? We can’t fight the decline of cash. It is going the way of cheques. Before long cash could be something only weird old people use and other shoppers will stare in amazement […]

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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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Australia Fintechs vs Banks: A Knife Edge in the Cashless Economy

In Australia there’s something of a ‘payments war’ going on and it’s taking a toll on Australian startups. Research from F5 Networks suggests that Australians are being more cautious about new payment technologies, with many sticking to the cash economy. Why? Because cash is more secure.

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‘A Turning Point Has Been Reached’: Cash to Become Niche and Cheques Phased Out, Says RBA

The Reserve Bank of Australia says cash will become a “niche” payment and cheques will be phased out as consumers accelerate their take up of digital transactions.

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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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Is New Zealand Embracing Cryptocurrency?

One of the first ICOs in New Zealand will launch this month. The reason why this project gained so much attention is that New Zealand is known to be one of the strictest countries in the world, in terms of adapting cryptocurrency.

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National Australia Bank to Roll Out Support for Alipay

National Australia Bank (NAB) has become the first of Australia’s big four banks to support the Alibaba Group-backed Alipay mobile payment platform. NAB said today that it has launched a pilot with a small group of its business merchant customers, with the bank intending to roll out support for Alipay across existing point of sale […]

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Oracle Debacle Threatens NZ’s Credit Unions

The aftermath of a problematic core banking upgrade by New Zealand’s Aotearoa Credit Union, with 15,000 members, threatens to drag down the profitability of most of the country’s mutual sector – potentially affecting 200,000 customers.

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Australian Banks Don’t Want Regulation Overhaul

Australia’s major banks aren’t in support of an overhaul to the new Banking Code of Practice. According to Smart Company, Commonwealth Bank, Westpac, NAB and ANZ announced this week that they are in agreement that consumer credit protection laws shouldn’t be extended to cover small business (SMB) lending.

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Why Alibaba Wants to Conquer the Australian Market

The ecommerce giant, however, has its eyes on global domination, with Australia touted by the company as a country full of intrigue. To support its growth in Australia and New Zealand, Alibaba Group in February 2017 opened an ANZ headquarters in Melbourne, overseen by Australia and New Zealand managing director Maggie Zhou, who has been […]

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Can APIs Turbocharge Australia’s Banks and Fintech Companies?

Australia’s fintech scene is getting better and better every year – and new regulations promise to make the ecosystem even better. EY recently found that 83 percent of post-revenue fintech companies in Australia believe their company’s revenues will grow over the span of the next 12 months.

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Mastercard Opens Global Tech Hub in Sydney

The Sydney suburb of St Leonards is the new home to the Australian Mastercard Global Tech Hub, which was formally opened today by NSW Treasurer Dominic Perrottet. Mastercard said that the hub will host some 550 of its employees, as well as serve as a centre of collaboration with the company’s partners.

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