A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.

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May 9, 2024

On the web

May 8, 2024

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May 3, 2024

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April 23, 2024

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April 18, 2024

On the wires

March 26, 2024

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March 22, 2024

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March 19, 2024

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Australian Payments Chooses Swift to Develop Confirmation of Payee Service

Asset Servicing Times

"Australian Payments (AP+) has selected Swift to build a service that aims to reduce the risk of misdirected payments and increase defenses against payment fraud...Swift’s selection to develop the Confirmation of Payee service for the NPP aims to build on its capabilities in AI and data services, including payment pre-validation for cross-border payments."

February 29, 2024

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January 18, 2024

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December 12, 2023

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November 15, 2023

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November 8, 2023

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October 20, 2023

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October 16, 2023

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October 11, 2023

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October 3, 2023

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September 28, 2023

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September 15, 2023

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Australia to be ‘Functionally Cashless’ by 2025

News

"Australia is rapidly heading towards becoming a “cashless society” as banks crack down on withdrawals, close ATMs and branches and ban cash altogether — with one expert predicting physical money will be completely gone by the end of the decade. “I’d say we’ll be functionally cashless by the end of 2025 — it’ll just be a complete rarity,” said Richard Holden, professor of economics at UNSW Business School."

August 23, 2023

On the web

July 7, 2023

On the web

By the Numbers: Australian Credit and Debit Card Statistics

Investing.com Australia

"The Covid-19 pandemic saw Aussies take advantage of lockdowns and stay-at-home orders to save and pay down debts, taking credit cards to the sword. However since then, spending has been elevated. Further, since its introduction in 2018, Australians have welcomed Osko and the New Payments Platform to transfer money in near real-time, which is a big benefit over yesteryear's waiting days for funds to clear."

June 22, 2023

On the web

Major Bank’s New Cash Rule for Aussies

Yahoo Life

"Westpac has unveiled major changes to how customers use their debit cards, enacting a $1000 default cash withdrawal limit amid dwindling levels of cash withdrawals across the country. The major bank will also cap transaction limits at a default of $8000 when selecting a ‘credit’ payment — currently a customer’s limit when tapping, inserting or making online payments with a debit card is their available balance."

June 8, 2023

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June 7, 2023

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June 6, 2023

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June 2, 2023

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First Real-World, Cross-Border Settlement Using Australian CBDC Completed Through NexPay and Monoova

The Fintech Times

"The Reserve Bank of Australia (RBA), in collaboration with the Digital Finance Cooperative Research Centre (DFCRC), held an invitation-only conference in Sydney for participants in the Australian Central Bank Digital Currency (CBDC) pilot project. In a live demonstration, Monoova’s CTO Nicholas Tan, successfully completed the first real-world, cross-border settlement using the pilot CBDC."