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Industry at a Glance 24-Mar-15

24 March 2015

New Zealand Bankers' Association

MasterCard® first affiliate member of NZBA
Source: Scoop.co.nz (press release)
Date Published: 18/03/2015

“We are delighted to welcome MasterCard as our first affiliate member,” said New Zealand Bankers' Association Chief Executive Kirk Hope. “Until recently our membership was limited to banks registered under the Reserve Bank of New Zealand Act 1989.

Australian News

Sweet credit-card deals can leave a sour taste
Source: Sydney Morning Herald
Date Published: 17/03/2015

Something unusual happened to the average credit-card interest rates last month, as recorded by the Reserve Bank. They fell, for the first time in almost two years. Throughout the industry, the average rate for a low-rate card has also fallen by 0.25 percentage

Budget? Bills? Banking? App to it
Source: Sydney Morning Herald
Date Published: 17/03/2015

Want to get a better sense of how you're using your money? Great news: there's an app for that. Australians are showing a healthy appetite for doing their banking on the run. Lots of us are downloading mobile banking apps and some are banking exclusively

Facebook Messenger will allow you to send money to friends
Source: The Sydney Morning Herald News Headlines
Date Published: 18/03/2015

Facebook will soon give users the ability to send money to friends through its Messenger application

Smile to pay: New Alibaba mobile technology lets users pay with a selfie
Source: The Sydney Morning Herald News Headlines
Date Published: 21/03/2015

Signatures are too analog. Passwords are passé. Fingerprints are so 2014. Is the next big thing in authentication the smile?

Government to trial new cashless welfare card
Source: The Sydney Morning Herald News Headlines
Date Published: 22/03/2015

Social Services Minister Scott Morrison says there are no plans for the widespread use of a cashless welfare card to stop spending on drugs, alcohol and gambling.

Trust deficit the big disrupter for banks
Source: The Sydney Morning Herald News Headlines
Date Published: 23/03/2015

SocietyOne founder and chief executive Matt Symons says the biggest disruption to banks is not technological change but consumers' willingness to trust new alternatives.

Current Issues

Online shoppers could soon be hit with GST
Source: New Zealand Herald - Technology & Science
Date Published: 17/03/2015

The Prime Minister has warned New Zealanders they could soon be paying GST on online purchases as small as a song download from iTunes.Mr Key said it was inevitable that the cost of online shopping would go up as GST was charged

ASB Facebook banking plans ditched
Source: Stuff.co.nz - Business
Date Published: 18/03/2015

ASB has scrapped the ability for its customers to send cash to Facebook friends, as the social media giant rolls out its own payments system.

Fly Buys goes global with Hotels.com
Source: Scoop NZ - Business
Date Published: 19/03/2015

Kiwi travellers can now earn Fly Buys points on global hotel bookings in a new partnership between the loyalty programme and Hotels.com.

BNZ card customers lose airpoints, gain cash
Source: New Zealand Herald - Business
Date Published: 20/03/2015

Thousands of BNZ customers are set to lose the ability to earn airpoints on credit card transactions, though the bank is offering a new cash-back incentive in a bid to keep customers.BNZ says customers will keep any accrued airpoints,

Devil in the detail of credit card balance transfers
Source: Scoop NZ - Business
Date Published: 20/03/2015

Banking Ombudsman Deborah Battell says her office has experienced an increase in complaints about credit card balance transfers due to competition between banks offering deals.

IBM issues grave security warning as mobile app developers neglect protection
Source: CIO
Date Published: 23/03/2015

Nearly 40 per cent of large companies, including many in the Fortune 500, aren’t taking the right precautions to secure the mobile apps they build for customers.

Member Banks

Air NZ drops BNZ from airpoints
Source: New Zealand Herald - Money
Date Published: 19/03/2015

Air New Zealand is dropping BNZ in place of Westpac as its official Airpoints partner.The announcement was made in a statement released this morning by BNZ retail banking and marketing director Craig Herbison, who said they were

 

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