Posts Tagged BPay

  • MAMBO misses the point MAMBO misses the point

    Account portability is at a standstill now that Project MAMBO has been called off, but was the concept really viable in the first place? BY STEPHEN WILSON Last month brought the unfortunate news that the BPAY consortium has cancelled Project MAMBO, setting back the cause of account portabili...

  • Trading places Trading places

    Millions of Aussies switch banks every year. However APCA says reducing the barriers to switching would enhance the utility of the payments system. BY CHARIS PALMER Bank account portability looks set to be debated within coming months, with the issue featuring in the submissions of several p...

  • Portability is possible, getting big four agreement a lot harder Portability is possible, getting big four agreement a lot harder

    OPINION National Australia Bank chief Cameron Clyne looked a little nervous when asked about account portability at yesterday’s Senate grilling, as testimony got underway in the current inquiry into banking competition. Given he had just moments before pointed out it’s the cost and time of...

  • Lessons in the making Lessons in the making

    OPINION There's often no prize for being first in banking, which is why the fast follower strategy is so common. But being second, or for that matter, third, fourth or fifth, is only worthwhile if you learn from those who came before you. The industry is currently contemplating MAMBO 2.0 (Bank...

  • Facebook sets sights on payments, while banks debate M@MBO Facebook sets sights on payments, while banks debate M@MBO

    The business of payments is something Facebook is “focusing a lot of time on” revealed Facebook’s Australian head Paul Borrud yesterday, speaking at an Interactive Minds event on Facebook for business. Facebook recently announced a partnership with PayPal to allow advertisers to use PayPal ...

  • Time wasters Time wasters

    BPAY is dipping its toes into youth marketing to encourage online bill payment BY ELTON CANE Youth marketing is notoriously tricky. Particularly - as is the case with online bill payment provider BPAY - your product is not particularly 'cool'. But, knowing that it needs to raise awareness wit...

  • Pay me, pay you Pay me, pay you

    A recent wave of investment in new person-to-person payment services among US banks shows some of the options available to Australian banks. BY ELTON CANE If Australians want to pay money to friends, family members, or even individual service providers - what's known as person-to-person (P2P)...

  • Payments innovation stalls, starting with project MAMBO

    Australia’s payments industry is looking tired and second-class. It’s something we’ve written about many times, and an issue not lost on the Reserve Bank of Australia, which has done little to hide its concern over the industry’s lack of recent innovation.Now it appears another payments alte...

  • The importance of payments choice

    The Reserve Bank of Australia must surely be watching closely BPAY’s plan to develop a unique code for Internet banking users that would facilitate online payments.Both the RBA and the Australian Bankers’ Association are preparing to lodge submissions to the Australian Competition & Consumer...

  • BPAY’s top-secret MAMBO project

    Australian financial institutions are considering a radical initiative that could see BPAY codes trump bank account numbers.Codenamed MAMBO (Me and My Bank Online), the top-secret BPAY proposal could deliver the bank account portability that Treasurer Wayne Swan so desperately wants Australian consu...

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