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.
Eyeing sectors with increased independent work forces and growing tourism, cross-border payments provider Transpay says it is making its business-to-business mass payout platform available in Australia, New Zealand and South Africa.
The U.S. charged 36 people in a takedown of an international cybercrime ring that prosecutors say used the slogan “In Fraud We Trust” and stole $530 million with the help of pilfered identities and malware.
Australia has a high ratio of consumers using contactless payment cards, while mobile payment adoption has lagged because of some large banks’ aversion to supporting Apple Pay and slower uptake in the region for Android Pay.
Three of Australia’s largest banks—Wespac, Commonwealth Bank of Australia and the National Australia Bank—have joined forces for a mobile wallet joint venture called Beem, with person-to-person payments as the first use case.