Last week the RBA’s systems failed leaving thousands of Australians without fast personal payments. The New Payments Platform powers OSKO real time payments that are used by many Aussies to send money to other people via their phone number or email address. The Reserve Bank said in a statement that an error occurred during a planned change to the software
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Over 6,000 Aussies have completed the CashWelcome survey about the Reserve Bank of Australia’s trial of a central bank digital currency – an online $A. And the results so far speak for themselves: People don’t see the need for a central bank digital currency in Australia (what exactly is the problem that is being solved by this?) and are concerned that this
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Respected banking industry newsletter BankingDay.com reported that the two major Cash In Transit operations in Australia – Armaguard and Prosegur will merge. Armaguard confirmed the deal had been agreed between the two companies. Yes there are a few small operators in the armoured truck and cash delivery marketplace but these two companies are the major dominant players. One large operator
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ATM cash withdrawals are trending up and there’s more cash on issue than ever before. New data from the Reserve Bank of Australia reveals the number of ATM cash withdrawals is trending up in 2022. The value of cash withdrawals is stable, indicating that cash is being withdrawn for daily use, not for hoarding. RBA data also shows the total amount of cash on
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Afterpay Day is a promotion of buy now pay later debt running from Thursday 17th to the 20th March. Consumers can win prizes, get discounts or exclusive ‘drops’ if they choose to BNPL debt rather than paying outright for purchases. Afterpay and other BNPL lenders charge retailers 4 per cent (or more) and ban them from recovering the fee from consumers. Yesterday, the Buy
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#CashStuffing and #100EnvelopeChallenge showcase young people rediscovering cash Wednesday 23 February 2022: Young people and students in Australia, New Zealand and globally are rediscovering cash – and hash tagging it. Controlling their budget and saving for goals are the key reasons why increasing numbers of young people are rejecting phone, card and Buy Now Pay Later payments apps to use cash.
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Some companies score really well when it comes to managing and reporting on the risks that their products may have been made or partly produced by slaves and some score really badly. The massive differences between the high and low scores on this index is perhaps the biggest surprise. Australia’s Modern Slavery Act (2018) requires Australian companies with annual revenue
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Angel investor Aileen Lee coined the term “unicorn” in 2013 to describe a privately held start-up that reaches a billion-dollar valuation. They are so rare – mythological – they are called unicorns. This paper reviews the current fintech investment landscape in Australia and compares the outlook for fintech ventures with established financial business models. There are more than 733 recognised
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It was supposed to be all about new technology like cards, phones, online commerce, crypto and digital currencies but the government’s Payments System Review made a surprising finding. Cash is critical to the economy and must be protected. Yesterday, treasurer Josh Frydenberg released the long-awaited Payments System Review which investigated how Australia’s payment system is run and governed. The review recognises that non-cash
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Most of NSW and Melbourne are in lockdown now. During lockdown, should children still continue with regular access visits to their father (or mother)? As a general rule-of-thumb, the less travelling around the community we do, the better. But fathers want to see their kids and mums want to know what the rules are around lockdowns and child access. Of
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Jason Bryce, Freelance Journalist 