Media Releases

  • NPP Australia

    Appoints Adrian Lovney as the inaugural Chief Executive Officer

    MEDIA RELEASE

    14 June 2016

    NPP Australia appoints inaugural CEO

    NPP Australia Limited, the company formed by the payments industry to build and operate the New Payments Platform, announced today the appointment of Adrian Lovney as its inaugural Chief Executive Officer.

    Mr Lovney brings a wealth of experience and in-depth knowledge of payments from a business and stakeholder perspective, together with strong leadership skills.

    Mr Lovney is currently General Manager of Product & Service at Cuscal Ltd with responsibility for product, services, and customers across the business, including leading the organisation’s work in NPP.

    Previously, he was Cuscal’s General Manager Strategy & Communications, responsible for leading the evolution of Cuscal’s business over the last five years as well as the successful migration and transition of customers to a new and innovative payments platform.

    NPP Australia Chairman Paul Lahiff said, “Adrian is an energetic leader with a passion for leading large-scale transition programs and is well-equipped to head up the commercialisation of the NPP.”

    “Adrian emerged as the outstanding candidate from an extensive domestic and global search process and the NPPA Board is delighted to have secured his services,” Mr Lahiff said.

    Mr Lovney said, “I am honoured to be taking on this important role at this critical stage in the development of Australia’s New Payments Platform. The NPP is a uniquely Australian take on the real-time payments infrastructure being implemented overseas. Its layered business architecture will deliver scale and efficiency while supporting a diverse range of fast payments well into the future.

    “These are exciting times and I am thrilled to be able to work with the NPP Australia Board and shareholders of NPP to help them realise the benefits of the investment they have made in this new payments system for Australia,” Mr Lovney said.

    Mr Lovney’s appointment takes effect on 5 September 2016.

    ENDS

    About the New Payments Platform

    The New Payments Platform (NPP) is new national infrastructure for Australia’s low-value payments. It will provide Australian businesses and consumers with a fast, flexible, data-rich payments system for making their everyday payments. The NPP is on track for being operational in the second half of 2017. More here.

    Media Contact: Ida Turner, Manager Communications P: (02) 9216 4817 M: 0409 716 556

    Further information available at www.apca.com.au 

  • NPP Australia

    Announcing new shareholder HSBC Bank Australia

    MEDIA RELEASE

    16 May 2016

    NPP Australia welcomes new shareholder

     

    NPP Australia Limited, the independent company formed by the payments industry to build and operate the New Payments Platform, announced today that HSBC Bank Australia Limited has become its newest shareholder and program participant.

    The New Payments Platform (NPP) is new national infrastructure for fast, flexible, data-rich payments. It will be open to all authorised deposit-taking institutions so they can offer innovative, real-time payments services to their customers.

    NPP Australia Chairman Paul Lahiff said that the company was delighted to have leading international bank HSBC on board.

    “HSBC brings a strong customer base and international perspective to the NPP. In becoming a shareholder, it is demonstrating its commitment to the future of real-time payments in Australia”, said Mr Lahiff.

    Head of Payments and Cash Management for HSBC in Australia, Simon Babbage, said: “Our partnership with NPP Australia demonstrates HSBC’s commitment to growing its franchise in Australia - a priority market for the bank globally. We are delighted to be part of this major industry initiative and welcome the prospect of providing our corporate and retail clients in Australia with real-time payments.”

    NPP Australia Limited was formed in December 2014. HSBC is the first additional shareholder to join the company’s 12 founding members, which are: 

    • Australia and New Zealand Banking Group Limited
    • Australian Settlements Limited
    • Bendigo and Adelaide Bank Limited 
    • Citigroup Pty Ltd
    • Commonwealth Bank of Australia
    • Cuscal Limited
    • Indue Ltd
    • ING DIRECT
    • Macquarie Bank Limited
    • National Australia Bank Limited
    • Reserve Bank of Australia
    • Westpac Banking Corporation 

    The NPP is on track to be operational in the second half of 2017. 

    ENDS

     

    Media Contact: Ida Turner, APCA Communications P: (02) 9216 4817 M: 0409 716 556

    Further information available at www.apca.com.au

     

  • Towards a Digital Economy

    The growing digital economy is accelerating the decline in cheque use. 

    MEDIA RELEASE

    20 April 2016

    The Rise of Digital Payments

     

    The Milestones Report(1) released today by the Australian Payments Clearing Association, the payments industry self-regulatory body shows that the growing digital economy is accelerating the decline in cheque use.

    Today’s report shows that Australians used 16.3% fewer cheques in 2015 than 2014. This compares to a 14.3% drop in 2014. Over the last 10 years, cheque use has dropped by a compelling 71%.

    Cash use also continues to decline, with the number of ATM withdrawals down by 5.5% in 2015 has dropped 4.7% in 2014.

    Australian businesses and consumers are increasingly choosing to use electronic payments in place of cheques and cash. Cards and other electronic payments continued to grow strongly in 2015:

    •   Direct entry transactions were up 6.3% in volume and 3.5% in value
    •   Card payments were up 11.1% in volume and 6.8% in value

    APCA CEO, Chris Hamilton said, “The decline in cheque use is a global phenomenon, but we are seeing a faster drop than many other countries.”

    According to the latest Business International Settlements report, between 2010 and 2014 cheque use dropped by 42.1% in the United Kingdom, 22.6% in Canada and 20.5% in France. This compares to 42.8% in Australia.

    Providing context for the sustained growth of digital payments, the report highlights that:

    • Australia is fifth in the world for smartphone banking uptake
    • 86% of Australian households have internet access
    • 72% of home internet users access banking services
    • Online retail continues to grow, up by 11.2% to $19.1 billion in 2015

    “Our lives are increasingly digital and as more services in both the public and private sector move online, it follows that Australians will choose digital payment methods.”

    “We are seeing significant innovation in the field of payments currently and the industry’s New Payments Platform - designed to support fast, flexible data-rich payments - provides important infrastructure for future evolution”, said Mr Hamilton.

    Today’s Milestones Report provides updates on industry and government initiatives to support this evolution including:

    • Progress on the Australian Payments Council’s initiatives set out in the Australian Payments Plan
    • Electronic conveyancing for property settlement through the PEXA service
    • The Government’s SuperStream for the superannuation system

    The Milestones Report and accompanying infographic are available at www.apca.com.au

    ENDS

     

    1. APCA releases regular Milestones Reports to review progress against the action plan published in May 2012. See “The Decline of Cheques: Building a Bridge to the Digital Economy”

    Australian Payments Clearing Association Limited ABN 12 055 136 519
    Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9216 4888 Facsimile +61 2 9221 8057 www.apca.com.au 

     

     

  • Payments Fraud

    CNP fraud on Australian cards is increasing, reflecting a global trend in online card fraud and in cybercrime in general. 

    MEDIA RELEASE

    14 December 2015

    Payments fraud trends show increase in card fraud over the internet

    The interim payments fraud data released today by the Australian Payments Clearing Association provide a timely reminder to Australians to remain vigilant when shopping online over the busy holiday period.

    Today’s figures for the 12 months to 30 June 2015 reflect the trends reported in Australian Payments Fraud – Details and Data for 2014, released by APCA in June 2015. Fraud on Australian payment cards continues to increase in the card-not-present space, reflecting a global trend both in online card fraud and in cybercrime in general.

    The interim release shows that the rate of fraud on Australian payment cards increased from 53.6c to 60.3c in every $1,000 spent. Card-not-present fraud accounted for 80% of all Australian card fraud having increased from $256.5 million to $322.7 million over the 12 month period. Australians spent a total of $672.5 billion on their cards over that time.

    APCA CEO Chris Hamilton said, “With the holiday season just around the corner, many of us will be doing our Christmas shopping and taking advantage of the New Year sales over the internet. Today’s figures should be a reminder that criminals are also looking for opportunities and we need to be vigilant.”

    Financial institutions are taking steps to extend the authentication techniques used for online banking to the card-not-present space to reduce the risk of fraud when shopping over the internet.

    “If you use your card online, it‘s vital that you take advantage of all the security features already offered by your financial institution, such as one-time passwords,” said Mr Hamilton.

    Consumers can take simple steps to help protect against online card fraud including:

    • registering their contact details, such as mobile phone number, with their financial institution so they can receive alerts and passwords when prompted by websites
    • only providing their card details on secure websites – looking for the locked padlock
    • always keeping their PC security software up-to-date and doing a full scan often
    • regularly checking their statements and reporting any unusual transactions to their financial institution immediately

    The interim release shows a drop in other card fraud categories:

    • fraud on Lost /Stolen cards dropped from $33.1 million to $31.8 million
    • Counterfeit/Skimming fraud dropped from $42.1 million to $39.2 million

    “Financial institutions and law enforcement have been working together to target skimming at ATMs and in taxis and this, together with the industry’s progressive roll-out of chip-reading at ATMs, is starting to reflect in the fraud data. Cardholders can help these efforts by always protecting their PINs and treating their cards like cash,” said Mr Hamilton.

    Australians are not liable for any fraudulent transactions on their payment cards and will be reimbursed as long as they have taken due care.

    The interim fraud data release is available at www.apca.com.au. Comprehensive payments fraud data for 2015 will be released in mid-2016. 

    ENDS

    Media contact: Ida Turner – Public Affairs P: (02) 9216 4817 M: 0409 716 556

    For further information visit: APCA website: Get Smart About Card Fraud Online; Protect Your Pin; Safeguard Against Skimming

    ACCC website: SCAMwatch

    Australian Payments Clearing Association Limited ABN 12 055 136 519
    Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9216 4888 Email info@apca.com.au www.apca.com.au