Australia to Become a Leader in Digital Payments Systems

The Sydney Morning Herald reports that a “$1 billion piece of infrastructure, with the uncatchy name of the new payments platform, goes live in the second half of [2017],” and it will make Australia a leader in digital payments systems. Concerning the commercial opportunities the system may open up, the newspaper talks with a bank executive who comments that “a savvy developer might invent a system could be arranged to automatically deduct payments when your car’s number plate went through toll booths, or parking fees when you went into parking stations.”