Featuring data and payments fraud trends for calendar year 2023, the Australian Payment Fraud Report 2024 highlights current trends and allows us to measure the success of existing, and develop further, industry mitigants. Key findings: Payment card fraud rate is up 22 per cent (70.2 cents per $1,000) in calendar year 2023 – the highest […]
Tag: card payments
Consumer Payment Behaviour in Australia
The results of the Reserve Bank’s 2022 Consumer Payments Survey show that consumers continue to shift from using cash to electronic payment methods – a trend that was accelerated by the COVID-19 pandemic and consumers’ preference towards using debit and credit cards and making payments online. Consumers are also increasingly using more convenient payment methods, […]
A Strategic Plan for Australia’s Payments System
The Government is releasing its Strategic Plan for the future of Australia’s payments system which sets out its policy objectives and priorities for the payments system. The Strategic Plan was developed through a consultation process in collaboration with regulators, industry, consumer and business representatives. The Strategic Plan provides businesses with certainty and clarity on the […]
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AusPayNet’s Response to Government’s Announcement on Modernising Australia’s Payments System
Government’s Strategic Plan for Payments has been much anticipated since its consultation late last year. Similarly, it was excellent to see today’s announcements of the consultations on the Payment Systems (Regulation) Act and on the new payments licensing regime. Why? Well, collectively they will, in two ways, ensure that Australia’s payments system is fit for […]
