Australia's banks have brought in KPMG to manage a programme to build an industry-wide real-time payments platform by 2016.
The Australian Payments Clearing Association (Apca) says it sees no need to close the country's cheque clearing system, following a year-long consultation with payment stakeholders.
The introduction of chip technology is changing card fraud patterns in the Australian payments landscape, with skimming attacks diminishing as fraudsters turn to card-not-present scams.
Debit card fraud in Australia has jumped over the last year according to the country's payments clearing association, driven by a spate of skimming attacks on ATMs and POS terminals.
Annual fraud figures from the Australian Payments Clearing Association (APCA) show a continuing increase in levels of card-not-present fraud and counterfeit/card skimming scams.
The Australian Payment Clearing Association (APCA) will next month switch on a clearing system for ATM and Eftpos transactions - almost ten years after the project was first mooted.
© Finextra Research 2013