Displaying items by tag: Digital payments

Digital payments company Limepay has appointed Willie Pang as its CEO.

eftpos has announced seasoned digital executive Mark Britt has joined the eftpos team as CEO of Beem It to take it next-level with plans for a new national rewards platform for Australian consumers, while also providing evidence a Parliamentary inquiry today into Mobile payment and digital wallet financial services.

e-commerce sales in the Indian market are forecast to reach US$120.1 billion - or 8.8 trillion rupee - in 2025, with the country witnessing high growth in the past few years, according to one global data and analytics firm.

The total value of transactions processed by POS terminals will exceed US$17.3 trillion in 2026, from US$14.8 trillion in 2021- a growth of 28%, according to a new global report.

Although it's said that cash is king, a new FIS report says "the sun is officially setting on the use of cash for retail payments in Australia, with the economy projected to be 98% cashless by 2024.

Global online payment fraud is predicted to cause losses exceeding US$200 billion over the next five years, driven by the increased sophistication of fraud attempts and the rising number of attack vectors.

Australian banks are at risk of losing US$3 billion in payments revenue by 2025 due to the growth of digital payments and competition from non-banks, according to a new research report.

Mary McHale, Financial Services Director, Equinix Asia-Pacific

GUEST OPINION: SPONSORED NEWS. The emergence and increasing adoption introduction of new digital payment methods, such as ‘buy now, pay later’ platform AfterPay and Open Banking payments platfoms that allow for real time payments like SplitPay alongside better known digital wallets like Apple Pay, are propelling Australia rapidly ahead as it moves toward a cashless, cardless society.

There has been rapid growth in the buy-now-pay-later digital payments Australian market, with new research revealing 1.95 million Aussies used digital payments in the year to the end of September - up from 1.38 million in the previous 12 months.

Global credit/debit card provider Visa has partnered with fintech Payment Logic to launch Yak Pay, a company providing small businesses with the ability to use digital payments when paying non-card accepting suppliers.

American Express cards are now useable on Sydney’s contactless payments system which is being rolled out by Transport NSW.

In the 12 months to January 2019, more than 1.5 million Australians used one of the latest "buy-now, pay-later" digital payment methods, with millennials making up the biggest share, according to a newly published report.

A majority of Australians now use digital payments, according to a new report revealing that awareness of digital payments is now an almost universal 93.9%, with 72.4% using at least one digital payment method over an average 12-month period.

Cabcharge has officially rolled out its Digital Pass on Android to allow corporate travellers to pay their fares via Google Play.

Non-bank contactless/cardless mobile payment systems are now being used by more Australians than bank-owned solutions, with fintech market entrants like Apple Pay, Android Pay and Google Wallet taking market share from incumbents, according to a newly released report.

Australians will continue to use cash in tandem with digital payment solutions, according to new research revealing that an average of 66% of consumers are withdrawing cash from ATMs at least once a month – with just over half logging into their mobile banking apps every week.

Chinese visitors to Melbourne can give licensed buskers the digital equivalent of a few coins via QR code, while locals can use "tap-n-go" cards in Australia's first digital payment busker solution.

Everyone wants to disrupt digital payments, with Facebook-owned WhatsApp's recent launch of its beta peer-to-peer digital payments service in India no exception, according to tech analysts GlobalData.

Chinese players are increasing their dominance of the digital payments market as companies like Alibaba, Tencent and UnionPay seek to bolster their revenues through international expansion, according to a newly published report.

PayPal and Visa are collaborating on an initiative aimed at accelerating the adoption of digital and mobile payments by Asia Pacific consumers and merchants.