Introduction
As with all things in this day and age, innovation is driving
change at rapidly accelerating rates. Technological innovation,
coupled with increasing competition in the supply of payment
services, has seen a marked change in the way Australians are
making payments.
Gone are the days of using cash and cheques as people turn to
newer, faster and more convenient payment solutions to keep pace
with their busy lifestyles. 'Tap and go' card payments,
digital wallets, 'buy now, pay later' services, in-app
payments, digital (online-only) providers of international money
transfers and the New Payments Platform – whilst being
relatively new developments – have quickly embedded
themselves into normal life.
