14 October 2016
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 you 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 firstname.lastname@example.org
Apple Pay is here
Apple Pay is now available here in NZ to iPhone-equipped ANZ customers, which is a first in this market. ANZ says that in Australia applications for their credit card increased by 20% following the announcement of their Apple Pay service there last April. Apple Pay's competitors, Android Pay and Samsung Pay, are not yet available in New Zealand.
Kiwibank launches New Zealand's first Fintech accelerator
Applications have opened to join a Wellington-based Fintech accelerator programme launched by Kiwibank, Xero, Callaghan Innovation, and Creative HQ. According to Kiwibank executive Paul Brock “The Kiwibank Fintech Accelerator will stimulate Fintech innovation in New Zealand by helping new ventures prove, build and launch their ideas.” New Zealand’s budding Fintech entrepreneurs will also be at The Point 2016 for the Fintech Innovation Challenge.
Tourists drive electronic card spend in New Zealand
Retail spending rose a seasonally adjusted 1.9% last month, turning around a 1.2% decline in August. The total value of electronic card spending rose 6.3% to $6.39 billion from September 2015, and the number of transactions across all industries rose 7.3% to 130 million with an average transaction value of $49.
Hackers target Swift and Christmas retailers
Cyber-security firm Symantec has reported that a hacking group – called Odinaff – is targeting banks. The group is apparently using similar tactics to ‘Lazarus’, a group that stole $81 million from Bangladesh’s Central Bank earlier this year. Meanwhile, Kiwi retailers getting ready for the Christmas rush are being warned about ‘RAM scrapers’ that could infect POS terminals in order to harvest card information.
Blockchain documentary shines light on rise of new technology
TechCrunch.com has launched the first episode of a new series – Trust Disrupted: Bitcoin and the Blockchain. The six-part documentary will examine the rise of Bitcoin and the tech that allows it to operate. Experts will also discuss blockchain and distributed ledger technology and what the impacts might mean for the financial services sector during a panel session at The Point 2016.
*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.