New Payments Platform Australia (NPPA) has recently announced it is merging its operations with Eftpos and BPAY. The three payments firms plan a bid to advance local innovation, making the country’s payments landscape more competitive. This will help to sustain the rising scale of overseas multi-national digital payment platforms.
This unified entity aims to increase innovation and efficiency while reducing costs. As mentioned by the company, “In Australia, international card schemes and multi-national technology providers are dominating the payments sector…Change is needed to ensure that the Australian payments system supports the best interests of consumers and businesses.”
Source: ZDNet
