Visa
NYSE:V
As cybercrime grows, governments, regulators and the financial services sector need to devote more resources to the problem. But where will the money to pay for that investment come from?
Banks are ramping up AI investment, but much of it is aimed at countering fraudsters who are using the same technology to escalate scams and cyber attacks.
NAB's annual result was in line with expectations, but was weaker in key areas like credit quality and revenue.
QR code payments dominate in China, India and other emerging economies. Now they've arrived in Australia, but widespread adoption faces major hurdles.
Anti-fraud measures and workplace productivity are among the most immediate use cases for AI in financial services — but human intelligence remains central.
In the latest sign of big banks being more willing to partner with fintechs, CBA has teamed up with property platform Coposit to ease access to off-the-plan properties.
As traditional financial institutions pull back from earlier VC-type models, Visa, Mastercard and many banks are sharpening their fintech investment programs.
Digital wallets are a hot front for competition and legal action. Mastercard is the latest issuer to fire a shot, announcing an upgraded online payment product it says will tackle about 90% of payment card fraud.
If ever there was a business model for the times it was buy now, pay later. Load up young consumers with debt on the promise there was no interest cost, charge merchants high service fees to cover marketing, and rely on cheap funding, FOMO and a very benign credit cycle.
More and more merchants are surcharging you just to pay them. It's hitting the tips of waiters and also distorting price signals in the payment system.
Five years on, the New Payments Platform is gaining momentum with the RBA pushing, fintechs innovating and legacy systems disappearing. But is it delivering?
Visa's index of domestic spending flags a new front of economic pressure as non-discretionary spending grows and use of credit cards increases at the expense of debit.
