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The Australian Consumer Competition Commission (ACCC) has today announced new rules regarding the delivering of consumer data in banking.
Following the Treasurer's consent, under the new rules (which come into effect 6 February), the national watchdog will require the four major banks to share product reference data with accredited data recipients.
It comes after the big four…
Samsung Pay has become the first smartphone wallet provider to win the support of Australia’s ‘Big 4’ banks, following an agreement with NAB announced this morning.
As more consumers choose smartphones for everyday payments, the news will likely provide Samsung a leg up over rivals.
The announcement comes shortly after the unveiling of Samsung’s new flagship smartphones, the Galaxy S9 & S9+, which…
From today, local banks will commence roll-out of out a new payment platform, set to offer ‘instantaneous’ transfers, 24 hours a day, seven days a week.
Reportedly in development for four years, the project comes from the New Payments Platform (NPP) whose shareholders include several major banks and the RBA. Roll out is valued at about $1 billion.
The RBA…
Three of Australia's 'Big 4 Banks' - Commonwealth Bank, Westpac and NAB - have joined forces to develop a smartphone payment app, set to rival Apple Pay.
Named 'Beem', the new app will be available for iOS and Android, and will enable consumers to make instant payments via their smartphone, plus the ability to split bills and request…
As originally reported by The Australian, yet another one of Australia’s major banks is tipped to embrace Android Pay after failing to pressure Apple into surrendering access to the iPhone’s NFC chip.
According to the reports, the bank “is said to be close to quitting the consortium of banks that unsuccessfully pitched to the Australian Competition & Consumer Commission…
