Paper money use is reportedly waning in Australia amid troubles at its top cash supplier. Linfox Armaguard, which moves 90% of cash to the country’s banks, ATMs and retailers, is fighting to stay afloat, Bloomberg News reported Sunday (June 2). The company’s uncertain fate has...
Australia’s younger consumers are increasingly embracing buy now, pay later (BNPL), a new survey shows. More than 40% of shoppers between 18 and 39 use the installment payment offering, the Reserve Bank of Australia (RBA) said in a study released Sunday (Nov. 26). The study, which also noted...
The Australian government has announced its plans to introduce new legislation that would empower the Reserve Bank of Australia to regulate digital payment services, including digital wallet providers. This move comes as a response to the widespread use of digital payment services, which are currently unregulated, Treasurer Jim...
A central bank digital currency (CBDC) may not be in Australia’s near future. That’s according to a report issued Wednesday (Aug. 23) by the Reserve Bank of Australia and Digital Finance Cooperative Research Centre into the opportunities presented by CBDCs. “Considering the broader context — where the Australian payments system is...
June 20, 2024
The Reserve Bank of Australia (RBA) plans to review the issue of surcharging in the buy now, pay later (BNPL) sector. This review comes as the RBA aims to expand its regulatory powers and assess whether payment sector reforms are necessary, SmartCompany reported Wednesday (June 19). The focus of the review will be on surcharging, […]
June 03, 2024
Paper money use is reportedly waning in Australia amid troubles at its top cash supplier. Linfox Armaguard, which moves 90% of cash to the country’s banks, ATMs and retailers, is...
November 27, 2023
Australia’s younger consumers are increasingly embracing buy now, pay later (BNPL), a new survey shows. More than 40% of shoppers between 18 and 39 use the installment payment offering, the Reserve Bank of...
October 11, 2023
The Australian government has announced its plans to introduce new legislation that would empower the Reserve Bank of Australia to regulate digital payment services, including digital wallet providers. This move comes as...
