Tagged: reserve bank of australia

Reserve Bank of Australia: Use of Cash Declines During COVID But No Strong Case for CBDC Even While Working on Proof of Concept for e-AUD

The Reserve Bank of Australia, Payments System Board, recently held a meeting to review several issues including the issuance of Central Bank Digital Currency (CDBC). The Bank noted that the Australian payments system has performed well during the COVID-19 pandemic. Cash during COVID has become… Read More

Australian Digital Bank Up Slashes its Savings Interest Rate, Following Reserve Bank’s Recent Cuts

Up is the latest digital banking service provider to slash its savings rates following the Reserve Bank of Australia’s recent cut to the nation’s official interest rates. The Melbourne-headquartered neobank has adjusted the maximum rate on its Saver Account. The new rate has been marked… Read More

Major Australian Digital Banks 86 400, Volt Bank, Up Slash Savings Account Interest Rates, Following Reserve Bank Cuts

Three major Australian neobanks have slashed their interest rates by 0.25% during the past few days, following the decision taken this month by the nation’s reserve bank to reduce rates. 86 400 was reportedly the first Australian digital bank to reduce the maximum interest rate… Read More

Reserve Bank of Australia Governor Says Facebook’s Libra Coin Some Distance from Full Implementation on Compliance Side

Reserve Bank of Australia chief Philip Lowe told participants in a Q&A session June 20th that he does not expect Facebook’s new Libra cryptocurrency network to be fully implemented any time soon. “There’s a lot of water under the bridge before Facebook’s proposal becomes something… Read More

After $700 000 in Research, Australian Digital Transformation Agency Determines Blockchain Not Yet Outperforming Existing Technology

After spending $700 000 Australian dollars investigating the industrial potential of blockchain, Australia’s Digital Transformation Agency (DTA) has determined that current versions of the tech are “interesting” but in no way better than other systems, ZDNet reports. DTA Chief Digital Officer Peter Alexander reportedly told Senate… Read More

FinTech Australia Points to Strengths & Opportunities as Outlined in Two Recent Reports

FinTech Australia is out with a statement saying that two recent independent reports bode well for the underlying strength of Australia’s Fintech industry and further opportunities for growth. Earlier this week, the Reserve Bank of Australia released a discussion paper on consumer payment methods.  On… Read More

Here is the Report from the Reserve Bank of Australia on Payments

The Reserve Bank of Australia is out with a discussion paper on the current environment for payments in Australia. The Consumer Payments Survey (CPS), which takes place every three years, recorded information on around 17,000 day-to-day payments made by over 1,500 participants during a week…. Read More

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