Australia's government said on Monday it would bring Apple Pay, Google Pay and other digital payment services under the same regulatory umbrella as credit cards and other payments as part of legislation set to be introduced to parliament this week.
I think this will tie in with updates to the CDR legislation coming soon. These digital wallets hide a lot of data from the banks. Bringing them under banking legislation allows banks to pull CDR data from the wallets as a condition of use.
I think this will tie in with updates to the CDR legislation coming soon. These digital wallets hide a lot of data from the banks. Bringing them under banking legislation allows banks to pull CDR data from the wallets as a condition of use.