The AusPayNet 2023 Annual Review, ‘A Turning Point’, offers insights into AusPayNet’s important work at a critical time for the banking and payments industry. Some key highlights include: Successful leadership of the first phase of Australia’s ISO 20022 Industry Migration Program Significant progression of work to become an authorised standards-setting body Facilitation of ECF to […]
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According to the 2023 Australian Payment Fraud Report, in 2022, fraud on payment card transactions increased by 16.5% on the previous year to $577 million, in line with the increase in total spending on cards, which was up by 16% to $1 trillion over the same period. The rate of fraud on Australian card payments was […]
The Government is releasing its Strategic Plan for the future of Australia’s payments system which sets out its policy objectives and priorities for the payments system. The Strategic Plan was developed through a consultation process in collaboration with regulators, industry, consumer and business representatives. The Strategic Plan provides businesses with certainty and clarity on the […]
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Government’s Strategic Plan for Payments has been much anticipated since its consultation late last year. Similarly, it was excellent to see today’s announcements of the consultations on the Payment Systems (Regulation) Act and on the new payments licensing regime. Why? Well, collectively they will, in two ways, ensure that Australia’s payments system is fit for […]
Current regulation is not fit for purpose due to the technological advancements and consumer behaviours which have led to emerging entrants disrupting the payments sector. To keep pace, promote smooth economic operations, and protect Australia’s position as a leader in the global marketplace, the Australian Government has set the regulatory wheels in motion. […]
Data released today by the industry self-regulatory body Australian Payments Network (AusPayNet) shows a 9.2% rise in fraud on payment card transactions in the 12 months to 30 June 2021 (FY21) alongside an increase in online spending during COVID-19 lockdowns. With total spending on cards rising 5.4% to $847.3 billion during the same period, the […]
AusPayNet has released their latest 2020 fraud statistics, indicating that Industry effort drives continued decline in card fraud. Find out about payment fraud trends and download the full report here. […]
Read More… from AusPayNet 2020 Payment Fraud Report – Fraud Statistics Jul 19 – Jun 20
Auspaynet’s 2020 Payment Fraud Report has been released. Find out about payment fraud trends and download the full report here. […]
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AusPayNet has released their 2019 Annual Review. The review outlines their work this year which aims to deliver the best customer outcomes. Download the full report here. […]
Card-Not-Present (CNP) Fraud Mitigation Framework. The banking industry has commenced the execution phase of this framework, which aims to tackle the most prevalent type of card fraud. […]
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