The Australian state of Queensland has selected Cubic Corp. of San Diego to develop a mass-transit ticketing system that will support contactless payments and real-time rider account information for public transportation in the region surrounding Brisbane.
Beem It, a startup owned by three of Australia’s largest banks, has launched a free real-time social payments app designed to run on older debit networks instead of the country's new faster payments platform.
As consumers spend more time interacting over social media and messaging platforms, those providers are making sure that they can also make payments related to any topic of conversation. But the arrival of Apple Pay Cash is complicating the market.
Australia is the latest country to enable Faster Payments with the February 2018 launch of the New Payments Platform. It's 10 years behind the U.K.'s version, but benefits from a decade of experience and observation.