Gen Y driving digital payments adoption finds Bankwest survey
Nearly 40 per cent of ‘Gen Y’ consumers use digital means to make everyday purchases, a survey commissioned by the bank has found.
Nearly 40 per cent of ‘Gen Y’ consumers use digital means to make everyday purchases, a survey commissioned by the bank has found.
Two million Eftpos-only cardholders will now be able to use Google’s Android Pay service when making purchases.
Commonwealth Bank of Australia currently only offers tap and pay Android phone payments through its own digital wallet app.
A group of banks has lost its fight with Apple over the iPhone-maker’s payments platform.
A group of banks that have sought the right to act as a cartel in negotiations with Apple over the iPhone maker’s Apple Pay platform have narrowed the scope of their application to the Australian Competition and Consumer Commission (ACCC).
The Australian Competition and Consumer Commission will not authorise a group of banks to band together for negotiations with Apple over the iPhone maker’s Apple Pay platform, states a draft decision issued today by the ACCC. A final decision is not expected until March next year.
A group of banks has confirmed that, at present, only Apple Pay is targeted by an application to the Australian Competition and Consumer Commission that would allow them to engage in a collective boycott of digital wallet services.
The Australian Competition and Consumer Commission (ACCC) has pushed back the timeframe for releasing a draft decision in a stoush between some of Australia’s biggest banks and Apple.
Even if the Australian Competition and Consumer Commission (ACCC) authorises collective negotiations between a group of banks and Apple over the use of the Apple Pay platform, the iPhone maker says that it “will not and cannot” agree to the conditions likely to be sought by the banks.
A submission to the Australian Competition and Consumer Commission (ACCC) by Google Asia Pacific (GAP) argues that there is no basis for allowing banks to band together for negotiations over the Android Pay platform.
Service NSW will add support for Google’s Android Pay mobile wallet to its digital stores, website and app “in the coming months”, the state government has announced.
Australia’s banks have always enjoyed a lucrative income from credit card “interchange fees”, the charges that the banks levy on merchants’ sales. These fees amount to AU $2.5 billion a year which are ultimately passed on to consumers.
Customers can now use the mobile payments platform to make contactless in-store purchases using an ANZ Visa debit or credit card or ANZ American Express card. The bank said Mastercard cards were expected to “follow quickly”.
Google’s digital wallet, Android Pay, will launch in Australia next year, the company announced today.
On Thursday Walmart announced a payment system of its own that uses barcodes and it doesn't look too clumsy.