Consumers and the RBA await real online shopping

Government regulation is hindering the development of electronic and online payment systems said NAB. Banks moving to international reporting standards and introducing anti-money laundering measures had pushed new payments projects back said the bank’s finance and risk director. The Reserve Bank said relatively little had happened to advance smart cards and create electronic purses, despite lots of talk going back ten years. The RBA says consumers want to be able to buy online without using their credit card.

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