The Reserve Bank of Australia has described the roll out of New Payments Platform (NPP) services by major banks "disappointing" and called for action to break down barriers preventing new service providers from accessing the system.
The Reserve Bank of Australia is canvassing bank views on plans to migrate the nation's payments networks to the ISO 200022 messaging standard.
Reserve Bank of Australia governor Philip Lowe has painted a picture of a near-future society in which physical cash is a niche payment instrument reserved only for emergencies.
Full service has resumed at the Reserve Bank of Australia (RBA) after it suffered a power outage on Thursday.
Australia's real-time payments platform goes live today, with customers of three of the country's big four banks able to transfer funds in seconds.
The Reserve Bank of Australia has no plans to issue electronic dollar banknotes, says governor Philip Lowe in a speech in which he also dismisses the current fascination with bitcoin as a "speculative mania".
ATM access, digital identity and virtual currencies topped the agenda at the recent meeting of the Reserve Bank of Australia's powerful Payments Systems Board.
Cards have overtaken cash as the primary method for consumer payments in Australia, according to data released by the country's central bank.
Australia could introduce a digital version of its dollar, a senior exec at the country's central bank says, although any state-backed digital currency is in the distant future and likely to circulate in parallel with old fashioned notes and coins.
The Reserve Bank of Australia has gone to tender for a new core banking system.
© Finextra Research 2019