Australia in the Context of Global Developments
Undeniably, global developments in payments are evolving at startling pace. According to 2017 World Payments Report, global non-cash transaction volumes hit the highest growth of the past decade with emerging Asia and CEMEA as main growth rate drivers. And cashless payments are estimated continue to increase at a CAGR of 10.9% from 2015-2020.
From the imminent PSD2 implementation on Jan 2018 in Europe, to the government led cashless initiatives across Asia, and China’s leapfrog in mobile pagments, global trends can be signposts and opportunities. How will these be relevant for Australia?
In our closing panel, we will have expert speakers from across the globe sharing their insights and perspectives:
- What are the next frontiers for open banking? Is there a move towards global standardized platforms providing uniform access?
- Compare and contrast the UPI (India Unified Payments Interface) and NPP —beyond facilitating interbank transfers and supporting “instant payments” what are the additional benefits?
- What can Australia learn from Europe’s PSD2 implementation?
- What are the keys to driving consumer adoption (Australia’s success on tap and go)? Should there be more focus on domestic vs cross border payments?
- What is the future influence of the digital giants on payments? (Amazon, Alipay, Tencent)