Displaying items by tag: electronic payments

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.

Suncorp has finally given its customers more choice when it comes to payments through the introduction of eftpos with Apple Pay – more banks should follow suit!

We recently spoke to Mark Hodgson, head of Samsung Pay in Australia, who shared his thoughts on the convenience of mobile wallets; in the meantime, Samsung has announced 1.3 billion Samsung Pay transactions.

Sydney and Canberra stand to gain up to an additional $13.3 billion annually in total direct net benefits by further reducing reliance on cash, according to a new global report from card payment giant VISA.

Australia's eftpos payments network has completed an industry-wide technology infrastructure transformation, racking up its two billionth transaction across its Hub network.

Twelve leading financial institutions have committed funding to build and operate new national infrastructure for electronic payments in Australia.

A major new study suggests debit and credit card usage boosted Australia’s GDP by nearly $20 billion between 2008 and 2012.

First in-market deployment of Cardis technology heralds global move away from cash

An Australian company will move its electronic wallet software into the cloud using IBM SmartCloud Enterprise.

Cash is no longer king, making up less than a quarter of the value of all payments made in Australia, as the value curve bends toward online and card based transactions. It's a shift that has prompted the Reserve Bank's Strategic Review of Innovation in the Payments System which could ultimately dictate the nature of computer systems the big banks will need in order to comply with the shifting regulatory landscape.