Among 15 recommendations to bring Australia's payments system into 2021 is the proposal for one licence that is scalable based on the payment function sought to be provided and a stronger role for government in setting the strategic direction of the overall system.
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Cryptocurrency exchange Bitcoin Babe testified it has been debanked 91 times and bullied by Austrac, with the industry body calling for an end to such 'anti-competitive' behaviour from Australia's banks.
The company's new money and lifestyle app, Money by Afterpay, is pencilled in for a public go-live in October.
The blue bank is hoping the entity can perform better without ADI regulatory restrictions.
The ACCC is seeking views on a court enforceable undertaking which has been offered by three Australian payment services providers seeking to merge.
A payroll review has found the bank miscalculated staff benefits and as a result has paid AU$55 million to the 3,200 current and former employees impacted.
The bank wants to prove it is possible to be innovative in a highly regulated environment.
The new national QR code utility is pencilled in for July go-live, with rollout completion expected by next year.
Four of those have gone to Australian neobanks or startups in the local fintech space.
Until such time regulation is introduced, the sector body wants safe harbour protections for crypto asset providers.