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.
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