Payments

The number of instant messaging users will reach 4.3 billion in 2020, rising from 3.9 billion in 2019. This is a growth of 9 per cent year-on-year, largely driven by an increased need for remote communication during the COVID-19 crisis, according to A new study from Juniper Research. The new

Data from the Roy Morgan Digital Payments Report shows a sharp increase in use of non-bank contactless mobile payment services compared to a year ago. A total of 10.8 per cent of Australians now use non-bank contactless mobile payment services such as Apple Pay and Google Pay, up from 7.1

The Commonwealth Bank of Australia today announced it will provide customers with itemised digital receipts within its app for certain transactions through a partnership and investment in local fintech Slyp. All of the big four banks now have a stake in Slyp which will continue to operate independently. NAB has

Digital wallet users spent more than $1 billion on a record number of transactions in March as cash and physical contact were minimised in an attempt to stem the spread of COVID-19, according to data from the Commonwealth Bank. CBA’s monthly analysis of transactions from Apple Pay, Google Pay, Samsung

Global contactless transaction values will reach nearly $6 trillion in 2024, up from $2 trillion in 2020, according to new data from Juniper Research.  It found that this increase will be driven by significant growth in OEM Pay and contactless card transaction values, especially in the US. The new research,

Australia’s banks risk losing US$3 billion in payments revenue by 2025 due to the growth of digital payments and competition from non-banks, according to new research from Accenture. According to Accenture’s Global Payments Pulse Survey [PDF] overall payment revenue will grow at an annual rate of 3.7 per cent by

The installed base of contactless-enabled POS (Point of Sale) devices will exceed 161 million by 2024 growing from 78 million in 2019, according to new forecasts from Juniper Research. In five years, contactless POS devices will then be 94 per cent of all POS devices in use. According to the

Buy now pay later platform Openpay dropped 17 per cent on its first day listed on the ASX.  According to the Sydney Morning Herald, the stock fell from the issue price of $1.60 to $1.35 half an hour after listing. It finished on Monday down 17.5 per cent at $1.32.

Mobile Points of Sale (mPOS) transaction values will exceed $1.9 trillion by 2024, up from $850 billion in 2019, according to forecasts from Juniper Research. This growth will be driven by service adoption from new business users, including pop-up stores and street vendors, for whom the acceptance of card payments

PayPal has acquired Honey, a shopping and rewards technology platform for US$4 billion. The deal is expected to close in the first quarter of 2020.  The payments giant said the deal enhances its value proposition with an extensive set of consumer commerce capabilities.  Honey was founded in 2012 and helps