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PayDay News | Australian Payments News

As Stripe invests in Sydney Hub, is CBA about to eat its lunch?

Technology Reporter
1 Apr, 2026
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Alex Zaharov-Reutt
Technology Reporter
1 Apr, 2026
Add us as a preferred source on Google
While the increasingly pervasive US payments platform Stripe was busy announcing a new Sydney engineering hub in early March, Australia's biggest bank was quietly assembling the parts to compete with it head-on.
As Stripe invests in Sydney Hub, is CBA about to eat its lunch?
Albert Naffah, CBA's General Manager of Payments Acceptance and CEO of CommBank Smart Health, says "our ability to deliver faster, to pivot faster … that's what that new modern platform will give us and our customers going forward”.

While the increasingly pervasive US payments platform Stripe was busy announcing a new Sydney engineering hub in early March, Australia's biggest bank was quietly assembling the parts to compete with it head-on.

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