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Bullock: Building Bridges in the Digital Economy: Modernising Australia’s Payments System
The introduction of contactless card payments was made possible because of innovation and investment across card issuers, terminal providers and businesses. This didn’t happen overnight though – we needed a critical mass of cards issued with chips and terminals accepting tap-and-go for it to get momentum. I recall Commonwealth Bank running a small-scale trial in the Sutherland Shire, but it didn’t really seem to take off. Only once the supermarkets picked it up did it gain the momentum needed to effect a broad change in payment behaviour. This demonstrates that the benefits of innovation sometimes only become ... (full story)
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RESERVE BANK OF AUSTRALIA GOV BULLOCK:
— PiQ Newswire (@PiQNewswire) October 24, 2025
MAKES NO MENTION OF INTEREST RATES, ECONOMY IN SPEEECH ON PAYMENTS
RBA TO CONSIDER HOW TO MODERNISE INTERBANK SETTLEMENT SYSTEM FROM 2026
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