Tag Archives: cashless

Payment system ‘outages’ kill cashless economy myth

Osko, CBA failures just the latest to leave customers stranded. Today, reported problems with ‘Osko’ payments between banks facilitated by the New Payments Platform are leaving bank customers stranded and angry. Customers of all banks have reported the failure of the “Osko” real time transfer system to their banks overnight on the 27 April and the morning of 28 April

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RBA data doesn’t support Cashless Australia predictions

USA based FIS issued a report predicting Australia would be largely cashless by 2024. FIS specialise in merchant payment solutions and supporting and securing cashless transactions. The FIS findings are not supported by real world data or readily available market information, for example: Last month, the Reserve Bank of Australia reported that, while cash’s share of payments has fallen, cash

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