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Industry at a Glance 9-Dec-14

15 December 2014

New Zealand Bankers' Association

Guard your card and PIN over the holidays
Source: Scoop.co.nz (press release)
Date Published: 05/12/2014

The New Zealand Bankers' Association is urging people to beware of card fraud over the holidays. “It's that time of the year when people are getting into the festive spirit, doing their Christmas shopping and anticipating the New Year sales. At this busy time it

Romance scams 'common' during festive season 
Source: 3 News - Technology
Date Published: 08/12/2014

The New Zealand Bankers Association has warned that online fraudsters love the festive season.

Australian News

Payment system's $1b overhaul delayed 
Source: The Age Business Headlines
Date Published: 02/12/2014

A Reserve Bank backed $1 billion real time payments network to be built by bank messaging network will be delayed by another year.

Mobiles increasingly target of cyber crime
Source: The Age National Headlines
Date Published: 04/12/2014

Mobile phone cybercrime is expected to grow in the next year, credit data analysts Veda warns.

Cash no longer king in payments
Source: The Age Business Headlines
Date Published: 04/12/2014

Small business pays more than four times as much per transaction to accept payments than big business, and the cost of cash transactions is rising, an RBA study finds.

Murray to shape our financial world 
Source: The Age Business Headlines
Date Published: 05/12/2014

If history is any guide, David Murray's financial system inquiry will shape the landscape of banking, superannuation and insurance for years to come.

Small business eyes $2.5 billion windfall from card reform 
Source: Sydney Morning Herald
Date Published: 06/12/2014

Small business will be able to claw back some of the $2.5 billion in fees they send to the banks to process card payments under proposals put forward in the federal government's landmark review of the financial system. Fairfax Media has confirmed the

Crowdfunding in Australia a step closer 
Source: The Age Business Headlines
Date Published: 08/12/2014

Crowd-sourced equity funding to help start-ups in Australia looks a step closer, with the Abbott government releasing a new discussion paper.

Payment providers divided over Murray 
Source: The Age Business Headlines
Date Published: 08/12/2014

Payment providers are divided in their reactions to the Murray inquiry attempt to cut down payment surcharges and fees – and it largely comes down to whether they're a dominant incumbent, or a new kid on the block.

Current Issues

Payments technology reaches critical inflection point 
Source: Scoop NZ - Business
Date Published: 04/12/2014

Melbourne, 4 December 2014 : The Ovum ICT Enterprise Insights * program, based on interviews with 6,500 senior IT executives, has revealed that the payments industry is set to be a key area of focus for banks across the globe in 2015.

Rental bonds go online 
Source: Stuff.co.nz - Money
Date Published: 05/12/2014

Landlords and tenants will be able to lodge rental bonds electronically by late next year.

Christmas shoppers slow to start 
Source: Stuff.co.nz - Money
Date Published: 08/12/2014

Christmas spending has been slow to take off this year, according to electronic transaction processor Paymark.

Member Banks

ANZ may face lawsuit, $19m disappoints 
Source: Stuff - Farming
Date Published: 03/12/2014

ANZ could face a class action lawsuit on top of its $19 million payout, after admitting to misleading behaviour in the sale of interest rate swaps to farmers.

PayTag use on rise as ASB joins trend 
Source: New Zealand Herald - Business
Date Published: 05/12/2014

A second major bank is offering "contactless" pay technology.ASB has joined Westpac in offering the new PayTag service, which involves stickers attached to smartphones to speed up payments. The sticker has a chip that when held.

Governance

Watchdog told to stand up to big business 
Source: Stuff.co.nz - Money
Date Published: 05/12/2014

The Commerce Commission "needs to grow a pair" and stand up to big business, Labour's primary industries spokesman Damien O'Connor says.

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