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Weekly top reads

Industry news top reads 12 May - 18 May 2017

19 May 2017

Below are our top reads from the last seven days of industry news*. Every Friday we'll publish our picks from industry developments, stories and announcements right here so you can keep up to date with what's happening in payments here and overseas.

If you'd like to have our top reads emailed to you every Friday, let us know by emailing connect@paymentsnz.co.nz

Top reads 

Pushpay big winner at Hi-Tech Awards
New Zealand payments business Pushpay has won the Hi-Tech Company of the Year award and the Innovative Company of the Year Award. “Pushpay was first to recognise a worldwide unserved market need - credit and collections help for churches and charities." the judges said. Latipay was also amongst the winners collecting the Hi-Tech Start-up Company of the Year award. This is the 23rd year for the awards.

Ipsos global trends report
Ipsos has released its latest global trends report based on over 18,000 interviews in 23 countries. The report uncovers eight long-term global trends shaping the world and looks at a range of other key developments including global mobile payments, personalisation vs privacy, and brands in the age of mistrust. We have worked closely with Ipsos as part of our Payments Direction initiative to better understand New Zealand consumers' attitudes toward payments now and into the future. A summary of the findings of that research will be released later in the year.

The robots are coming! (with investment advice)
New Zealand’s Financial Advisers Act (2008) is undergoing reforms that will pave the way for robo-financial-advice. The rewrite of the act will “open the door for automated, online investment advice to be given and for products to be automatically recommended that suit a person’s circumstances,” says Geoff Ward-Marshall, senior associate, DLA Piper.

‘Osko’ unveiled in Australia for real-time payments
In October, the launch of Osko will mean Australian bank customers only need to know their payment recipient’s ‘PayID’. This infrastructure is linked to the NPP, a project funded by banks to create real-time payments that are easier to use and can include more payment metadata. Bank accounts will still have a BSB and account number behind the scenes, but their PayID is a friendlier handle or address, such as an email address, for their underlying bank account.

Google accounts now a mobile wallet
Google is debuting a new payments tool that allows people to pay for items using a stored credit card in their Google Accounts. The new technology lets those hundreds of millions of users who have stored a credit card with their Gmail, YouTube, or Google Play account be able to quickly purchase items within Android apps or on a mobile website. It extends Google's reach by enabling people who don't have Android Pay accounts to easily make payments in apps. Users will begin to see a ‘Pay with Google’ option on eligible apps.

New Amex skill for Amazon Alexa
American Express has introduced a new Amex skill for Amazon Alexa in the US, integrating services such as Amazon voice. By linking their online American Express account to the Amex skill, eligible card members with an Alexa-enabled device can make payments, review recent charges and check their account balance. The skill also connects with Amex Offers, enabling members to browse and add offers to eligible cards.

Mastercard brings tap-to-pay to public transport
Mastercard has announced it will be enabling card carriers to tap to pay for public transport in over 80 cities around the world. This is part of a broader movement by the payment company to help build cities that are smarter and more connected as they estimate that 70 percent of the world’s population will live in cities by 2050. Since the introduction of contactless payments across London’s public transport in 2014, some 40 percent of daily payments are now contactless.

 

*These articles cover a range of topics from broad payments industry news here and overseas. They do not represent the views of Payments NZ and are not endorsements.

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