What is PayTo? PayTo is a new, digital way for businesses to initiate real-time payments from their customers’ bank accounts. Using PayTo, customers can pre-authorise once-off or recurring transactions to be processed in real time, 24/7. PayTo was developed in...
The payments landscape – and the financial services sector more broadly – is evolving rapidly. The pandemic further accelerated the pace of change and innovation, with digitisation and cashless payments two fundamental forces driving the industry’s transformation....
With consumers making more online and contactless payments than ever before, fraud on payment card transactions rose 9.2% in the 12 months to 30 June 2021. Fraud on card-not-present transactions rose 12.3% to a total of $442 million during the same period. While...
What is a cashless society? A cashless society is one where goods and services are purchased using digital payment methods like credit and debit cards, mobile wallets, cryptocurrency, and payment apps rather than physical currency (notes and coins). Australians have...
2020 and 2021 will go down in history as years that irrevocably reshaped organisations worldwide. Almost overnight, everyone from small businesses to multinational companies had to adopt new ways of keeping their employees, customers and suppliers connected – and...
The way Australians pay has changed significantly over the last decade, with more and more of us opting to pay electronically. The 2021 Payments System Board Annual Report identified a number of emerging trends and developments in retail payments. 1. Electronic...
Australia’s aged care sector is growing and evolving at an unprecedented pace. Our aging population, changing regulatory requirements, and shifting community expectations are just some of the factors placing extra strain on Australia’s aged care services. ...
In these uncertain times, having an established and integrated approach to managing refunds is vital. For many organisations, refunds are a time-consuming manual task that requires employees to match data from multiple systems and...
What is PCI DSS compliance? The PCI DSS (Payment Card Industry Data Security Standard) is a set of requirements that all entities that store, process, or transmit payment card information must comply with. It was launched in 2006...
The way we pay has been markedly changed by the COVID-19 pandemic, with the rapid evolution of payments technology and preferences during 2020 smashing all projections. The 2021 Global Payments Report by fintech company FIS Global predicts...