Australia To Give Payment Systems A Major Facelift By Adding Crypto In The Mix
Australia’s government plans to regulate cryptocurrencies as part of a broader revamp of the country’s payment system. Jane Hume, Australia’s Minister for the Digital Economy, disclosed that the government will “enable Australians to invest safely and securely in crypto assets” by introducing a market license framework for cryptocurrency exchanges. Cryptocurrency taxation, investor protection from fraudsters, […]
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On The Run (OTR) will work with Crypto.com to implement its Pay Merchant product, with a Sydney payment systems provider rolling out new terminals to allow consumers to pay with crypto. Convenience store and gas station giant On The Run (OTR) will soon accept crypto payments at its 170 outlets across South Australia and Victoria. The move will allow customers to pay for gas, snacks, and even a Subway foot long in over 30 cryptocurrencies.OTR’s parent company the Peregrine Corporation, one of the largest privately-owned companies in South Australia, will also be accepting crypto at its....
The government of Australia is preparing to comprehensively regulate the activities of cryptocurrency exchanges and custodians. The push is part of a major overhaul, aimed at preserving the country’s sovereignty over its payments system, which will also affect providers like Apple and Google. Payment Laws in Australia to Cover Crypto Business and Big Tech Authorities in Australia are gearing up to update the nation’s legislation governing payments in the largest reform of the industry in over two decades. The changes will expand the regulatory framework to encompass new....
The mobile payment sector is heating up, as every company and financial institution are scrambling to launch their platform in the near future. Over in Australia, it will not be smooth sailing for Apple Pay by any means, as the country’s major banks continue to boycott the popular mobile payment solution. NAB was among the first to launch their own mobile app, and now ANZ Mobile Pay is here as well. Bitcoin, on the other hand, is creating a far less fractured payment ecosystem around the world. Apple Pay Battle in Australia Becomes A Lot Harder. Even when consumers might be preferring to....
Commenting on the roll out, Crypto.com’s Asia & Pacific General Manager Karl Mohan tipped the adoption of an AUD-backed stablecoin as being the catalyst to make crypto payments mainstream in Australia. Convenience store and petrol station brand On The Run (OTR) has launched crypto payment support across all 175 of its petrol stations and convenience stores across Victoria, South Australia (SA), and Western Australia (WA) as of Aug. 18. As previously reported, the move is part of a collaboration between OTR, Singapore-based exchange Crypto.com, and DataMesh, a Sydney-based payment systems....
Competition in the mobile payments industry is heating up all over the world, but things are getting particularly interesting in Australia. The National Australia Bank has launched a new mobile payment solution for Android users, which will be in direct competition with Apple’s concept. Furthermore, the country’s largest banks are planning to keep boycotting Apple Pay for the foreseeable future. Bitcoin is still the only global mobile payment solution. Australian Banks Do Not Like Apple Pay. Even though any form of mobile payment solution should be designed to benefit the consumer, several....