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Industry at a Glance 9-June-14

20 June 2014

Australian News


Virtual currencies pose challenges: RBA
Source: The Age National Headlines
Date Published: 10/06/2014

Virtual currencies and the blurred line between financial institutions, telecommunications and technology companies pose regulatory challenges, RBA says.

Elderly pin hopes on card shuffle
Source: The Age National Headlines
Date Published: 11/06/2014

The elderly and people with dementia will fall through the cracks when signatures are banned for credit and debit card purchases in less than two months, advocates warn.

Coles ready to battle big banks
Source: The Age Business Headlines
Date Published: 12/06/2014

Coles has pulled together a high-level strategy team to develop its burgeoning financial services arm, with an eye to offering banking services to better bind customers to its stores and boost grocery sales.

New players needed in banking
Source: The Age Business Headlines
Date Published: 13/06/2014

An internal Deloitte report on the financial services sector says the surest way to promote competition and the entry of new non-financial conglomerates - such as Coles owner Wesfarmers - is to keep barriers to entry as low as possible.

BlackBerry gets serious about mobile payments
Source: The Australian
Date Published: 13/06/2014

BlackBerry has signed an agreement with EnStream LP, a mobile payments joint venture owned by Canada's three large wireless carriers, to provide a secure platform for transactions between banks and consumers. Under the deal, EnStream would use BlackBerry infrastructure so financial institutions and mobile operators can securely store sensitive payment card details on any smartphone capable of using a near field communication (NFC) tag.

Current Issues


PayPal chief joins Facebook to strengthen mobile messaging
Source: CIO
Date Published: 10/06/2014

A stronger set of features, possibly including payments, might be coming to Facebook's messaging properties now that former PayPal president David Marcus has come to work for the social network.

May gets extra Saturday spending boost
Source: - Industries
Date Published: 10/06/2014

Eftpos firm Paymark has reported the fastest growth in transaction volume in six years, as well as a growing trend towards the use of "contactless" cards.

Getting your just rewards
Source: - Editors Picks
Date Published: 15/06/2014

Credit card issuers quote the "earn" rate on their rewards schemes not the "burn" rate.

Member Banks


CIO Awards 2014: The Finalists
Source: NBR-Technology
Date Published: 10/06/2014

The finalists have been revealed for The CIO Awards 2014, in conjunction with the CIO Summit 2014 held Wednesday and Thursday this week at Sky City.



Inside Money: Financial complaints up but moaning still not cost-efficient
Source: New Zealand Herald - Money
Date Published: 10/06/2014

The financial moan index rose over the last annual reporting period with three of the four complaints bodies in the sector registering a significant increase in whinging-based activities.According to the annual reports of the

NZ signs FATCA agreement with the US
Source: Scoop NZ - Business
Date Published: 13/06/2014

New Zealand financial institutions' FATCA obligations are clarified with today's signing of a NZ/US intergovernmental agreement (IGA). The long-awaited agreement comes not a moment too soon, with the 1 July implementation date just over two weeks



Inside Money: Bitcoins with everything - or how techno-freaks want to pull on your blockchain
Source: New Zealand Herald - Money
Date Published: 12/06/2014

This might be the future . But I hope not. The digital utopia as described in the above, lengthy UK Daily Telegraph article

PayPal launches 'PassPort' site to help merchants seize a growing overseas market
Source: CIO
Date Published: 13/06/2014

PayPal is offering a new educational resource to help merchants worldwide get more use out of its payments service.

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