More than $5 million was lost to scams in 2018 involving gift cards — a 38% increase compared to 2017 — with iTunes cards accounting for $3.1 million in losses, according to Scamwatch, the competition watchdog ACCC’s scam warning service.
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.
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.
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