Australia’s $24 billion digital payments bonanza has a $23 billion problem

Alex Zaharov-Reutt
Technology Reporter
11 Mar, 2026
A new industry report promises a once-in-a-generation digital finance windfall. The maths, the infrastructure, and the Reserve Bank's own admissions tell a different story.
Australia’s $24 billion digital payments bonanza has a $23 billion problem

A new industry report promises a once-in-a-generation digital finance windfall. The maths, the infrastructure, and the Reserve Bank's own admissions tell a different story.

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Goldenbet’s Australian-focused PayID promotion raises questions about payment oversight, as banks prepare for new obligations to block illegal gambling transfers and regulators warn of scams exploiting the familiar
When Bolt Group’s Bano’s was disconnected after Banking Circle’s court win, it left crypto exchanges and fintechs reshuffling their Australian banking and payments relationships, as providers reassess the
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Nine out of ten Kiwi’s said New Zealand needs a minimum standard for access to cash services regardless of if they live rurally or in an urban area,
Apple is steering the Reserve Bank of Australia (RBA) towards an innovation debate involving digital ID and cheaper account-to-account payments, as the Big 4 push for iPhone NFC

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