PayPal and BPAY are Australia’s most frequently used digital payment services; & more!

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NEWS HIGHLIGHT

PayPal and BPAY are Australia’s most frequently used digital payment services. The two services are used by almost three times as many people as the third-placed Afterpay, now used by over 3.2 million people (15.2%). Link here

BREAKING NEWS

UOB Malaysia launches digital banking platform for SMEs. An all-in-one digital banking platform to meet the financial needs and other business requirements of small- and medium-sized enterprises (SMEs). Link here

Stripe enters the crowded Thai payments market with a global strategy. Stripe says it will use its global payments network to attract businesses of all sizes in Thailand after it launched operations in the already crowded market on Wednesday. Link here

INSIGHTS

Merchants face a two-year wait for the conclusion of UK market reviews into Visa and Mastercard fees. The PSR says it expects to publish a report setting out its interim conclusions on card scheme and processing fees in quarter four of 2023 and a final report which would include any proposed remedies in quarter two of 2024. Link here