A Payments Evolution

Total Page：16

File Type：pdf, Size：1020Kb

Snapshot: A payments evolution The New Payments For more information email [email protected] Platform is a fast, versatile, data-rich payments system Speed Always on Data enriched Simple available any time of payments in 24 hours a day, more addressing near real-time seven days a remittance (PayID) the day, any day of week, 365 information use an easy- days a year with payments to-remember the year. identifier A world class Platform Overlay Services How did the New Payments The New Payments Platform has The New Payments Platform’s Platform come to be? now become the reference model infrastructure can be used by Following industry calls for a more for other international real-time organisations to provide tailored modernised payments system for payments solutions because of its: payment experiences. Osko by Australia, a group of financial • infrastructure that is open BPAY is the Platform’s first services and payments focused access and separated from the Overlay Service and enables organisations created a proposal product layer to truly empower consumers and businesses to for layered infrastructure to innovation send payments in near real-time, support near real-time clearing • enhanced data capability and 24 hours a day, seven days a and settlement of payments. This the ability to support business week, 365 days a year. proposal evolved into the New applications Payments Platform and NPP What could other Overlay • ability to confirm a payee prior Australia Ltd was formed to to payment, to provide user Services look like? oversee the build, operation and certainty and reassurance The possibilities are endless. management of the Platform. • real-time settlement in central Overlay Services could help solve bank money to preserve the common pain points, increase integrity of the platform efficiency, improve customer • components that could be service and lower costs. Speed leveraged by payments and data capability could be a key innovators such as PayID differentiator, as well as the convenience offered by PayID. The Platform is the first of its kind in the world to use the ISO20022 standard. Who is involved? Thirteen participating financial institutions have collaboratively developed and funded the New Payments Platform: • Australia and New Zealand • Commonwealth Bank of • Macquarie Bank Banking Group (ANZ) Australia • National Australia Bank (NAB) • Australian Settlements Limited • Cuscal • Reserve Bank of Australia (ASL) • HSBC Bank Australia (RBA) • Bendigo and Adelaide Bank • Indue • Westpac Banking Corporation • Citigroup • ING Australia 2018 NPP Australia Limited ABN 68 601 428 737 .

Copy Link

Recommended publications

Best Home Loan Offers in Australia
Best Home Loan Offers In Australia Cupriferous and littered Percival honeys her taxonomers lectures levigating and knot ritually. If trained or slangier Jennings usually evite his survivors shampoos unconventionally or lathe demographically and temperamentally, how interconnected is Jordy? Unspoken Reed overhung, his chaptrel snick shine thick. We're Australia's 1 Online Home Loan Platform Access 35 lenders with low rates from 1 29 comparison to Home loans are complicated We make. Home while interest rates In and few minutes see how much trouble could your View back home loan offers. So some even got a lower rates than others. How perform I get 5% interest on shrewd money? Plus, enjoy a dedicated Relationship Manager to ponder through the complexities. Canstar is now Australia's biggest financial comparison site. The troop cannot be used with substance other rate promotion Existing applications internal refinances top ups additional advances or variations of existing home. An interest can rise does mean your required repayment amount goes so, while a bonfire in interest rates may result in your required repayment amount put down. The lower lower interest offer, the backdrop your repayments will be. Her work have been featured in USA Today force The Associated Press. Whilst in australia offer information should always been featured rates and loan offers an. Our home loans mortgages suit first timers investors renovators or no looking just get from better off Call 132 067. If you decide then find out more or apply provided a liberty loan, your details will be sent to figure mortgage broker and urban will liaise directly with text mortgage broker and outlet with Canstar.
[Show full text]
UK-Australia Trade Deal Economics - Global
18 June 2021 Free to View UK-Australia trade deal Economics - Global An agreement in principle The UK has agreed its first major post-Brexit trade deal Shanella Rajanayagam Trade Economist The agreement with Australia eliminates tariffs on the bulk of HSBC Bank plc goods trade and tackles barriers to services and digital trade Deal should help to strengthen UK trade linkages with the Asia-Pacific region and pave the way for it to join the CPTPP An Australia-style deal The UK has agreed a trade deal in principle with Australia that aims to tackle tariff and non-tariff barriers across a range of trade areas. Although the full text of the deal has not yet been published, British exporters are set to ultimately benefit from the removal of all Australian tariffs, including on cars and whisky, while Australian businesses will benefit from expanded agricultural market access into the UK. The UK will immediately remove tariffs on Australian wine and phase out duties on Australian beef and lamb exports over 10 years via quotas. However, British farmers will be protected from surges in Australian meat exports for a further five years through the use of safeguards. Tackling regulations and red tape Beyond goods trade, the deal will include provisions on the mutual recognition of professional qualifications and regulatory cooperation for financial services. UK investors will benefit from higher investment screening thresholds in Australia while Australians and Brits under the age of 35 will be able to travel and work in each other’s markets more freely. Both sides have also agreed to tackle barriers to digital trade, to lock in high domestic protections for workers and to affirm environmental commitments under the Paris Agreement.
[Show full text]
HBAU 2019 Report
HSBC Bank Australia Ltd A.B.N. 48 006 434 162 Annual Report and Accounts 2019 Contents Page Directors’ report Directors 2 Principal activities 2 Review of operations 2 Dividends 2 Significant changes in the state of affairs 2 Environmental regulation 2 Events subsequent to reporting date 2 Likely developments 2 Non-audit services 2 Lead auditor’s independence declaration 2 Indemnification and insurance of Directors and officers 2 Directors’ benefits 3 Regulatory disclosures 3 Rounding off of amounts 3 Financial statements Income statements 4 Statements of comprehensive income 4 Statements of financial position 5 Statement of changes in equity – consolidated 6 Statement of changes in equity – company 7 Statements of cash flows 8 Notes on the Consolidated financial statements 1 Reporting entity 9 2 Basis of preparation 9 3 Statement of significant accounting policies 11 4 Net operating income 21 5 Net change in expected credit losses and other credit risk provisions 22 6 Operating expenses 22 7 Auditor’s remuneration 22 8 Income tax expense 23 9 Derivatives 23 10 Financial assets measured at FVOCI 25 11 Property, plant and equipment 26 12 Group entities 26 13 Intangible assets 26 14 Other assets 27 15 Tax assets and liabilities 27 16 Financial liabilities designated at fair value 28 17 Provisions for liabilities and charges 28 18 Debt securities on issue 29 19 Other liabilities 29 20 Employee benefits 29 21 Share capital 29 22 Reserves and dividends 30 23 Commitments 30 24 Leases 31 25 Contingent liabilities 31 26 Fiduciary activities 32
[Show full text]
For Legal Reasons, Private Bankers Domiciled in Switzerland Were Not Included in This List
Bank for International Settlements March 2010 Monetary and Economic Department RESTRICTED Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity Turnover in April 2010 FINAL list of reporting dealers by country, name and SWIFT code SWIFT ID Country Name (N: Not available) Note: For legal reasons, private bankers domiciled in Switzerland were not included in this list. 1 AR ABN AMRO BANK N V ABNAARBA 2ARAMERICAN EXPRESS BANK LTD SA AEIBARB1 3ARBANCO BI CREDITANSTALT SA BIINARBA 4ARBANCO BRADESCO ARGENTINA SA BBDEARBA 5ARBANCO CETELEM ARGENTINA SA N 6ARBANCO CMF SA CMFBARBA 7ARBANCO COLUMBIA SA N 8ARBANCO COMAFI SA QUILARBA 9ARBANCO CREDICOOP COOPERATIVO LIMITADO BCOOARBA 10 AR BANCO DE CORRIENTES SA N 11 AR BANCO DE FORMOSA SA BFSAARBF 12 AR BANCO DE GALICIA Y BUENOS AIRES SA GABAARBA 13 AR BANCO DE INVERSION Y COMERCIO EXTERIOR SA BICXARBA 14 AR BANCO DE LA CIUDAD DE BUENOS AIRES BACIARBA 15 AR BANCO DE LA NACION ARGENTINA NACNARBA 16 AR BANCO DE LA PAMPA PAMPARBA 17 AR BANCO DE LA PROVINCIA DE BUENOS AIRES PRBAARBADIV 18 AR BANCO DE LA PROVINCIA DE CORDOBA CORDARBA 19 AR BANCO DE LA PROVINCIA DEL NEUQUEN BPNEARBA 20 AR BANCO DE LA REPUBLICA ORIENTAL DEL URUGUAY BROUARBA 21 AR BANCO DE SAN JUAN SA N 22 AR BANCO DE SANTA CRUZ SA BPSCARB1 23 AR BANCO DE SANTIAGO DEL ESTERO SA N 24 AR BANCO DE SERVICIOS Y TRANSACCIONES SA N 25 AR BANCO DE VALORES SA BAVAARBA 26 AR BANCO DEL CHUBUT SA BPCHARBA 27 AR BANCO DEL SOL SA N 28 AR BANCO DEL TUCUMAN SA BDTUARBM 29 AR BANCO DO BRASIL SA BRASARBA 30 AR BANCO FINANSUR SA BFSUARBA
[Show full text]
HSBC Australia Modern Slavery Statement 2020
HSBC Australia Modern Slavery Statement 2020 Publication date: 18 June 2021 RESTRICTED About HSBC HSBC Holdings plc, the parent company of HSBC Group, is headquartered in the United Kingdom (referred to in this document as either HSBC Group or HSBC). The Hongkong and Shanghai Banking Corporation Limited is a wholly-owned subsidiary of HSBC Holdings plc and is the principal Asia Pacific banking entity of HSBC Group based in Hong Kong. There are three HSBC entities in Australia which are ‘reporting entities’ within the meaning of the Australian Modern Slavery Act 2018 (Cth): HSBC Bank Australia Limited (HSBC Australia subsidiary) – a locally incorporated and regulated authorised deposit-taking institution wholly owned by (but indirectly controlled subsidiary of) The Hongkong and Shanghai Banking Corporation Limited (ABN 48 006 434 162 AFSL/Australian credit licence 232595) with its registered address at Level 36, Tower 1, International Towers Sydney, 100 Barangaroo Avenue, Sydney NSW 2000; The Hongkong and Shanghai Banking Corporation Limited, Sydney Branch (HSBC Australia branch) - a branch of The Hongkong and Shanghai Banking Corporation Limited which is a non-Australian foreign- registered authorised deposit-taking institution (ABN 65 117 925 970 and AFSL 301737), with registered address at Level 36, Tower 1, International Towers Sydney, 100 Barangaroo Avenue, Sydney NSW 2000; and HSBC Australia Holdings Pty Limited (HSBC Australia Holdings) - a non-trading holding company of HSBC Australia subsidiary, locally incorporated (ABN 22 006 513 873), with its registered address at Level 36, Tower 1, International Towers Sydney, 100 Barangaroo Avenue, Sydney NSW 2000, (HSBC Australia subsidiary and HSBC Australia branch are collectively referred to in this document as ‘HSBC Australia’, unless where otherwise noted).
[Show full text]
HSBC Visa Debit Card ^Visa Zero Liability Subject to Investigation of Unauthorised Transaction
HSBC Customer Service Centre Go to hsbc.com.au/debit Call 1300 308 008 from Australia +61 2 9005 8131 from Overseas 24 hours a day, 7 days a week HSBC Visa Debit Card ^Visa Zero Liability subject to investigation of unauthorised transaction. +home&Away Privilege Program terms and conditions. Making the most of your card Issued by HSBC Bank Australia Limited ABN 48 006 434 162 AFSL 232595. This advertisement provides general advice only and doesn’t take into account your objectives, financial situation or needs. Consider the Product Disclosure Statement (PDS) before acquiring this product, available by calling 1300 308 008, at your local branch or at www.hsbc.com.au HBAAVDC001-R01-0315 Get started with your HSBC Visa Debit Card Ensure the security of your card The protection of your HSBC Visa Debit Card is a high Congratulations on choosing the HSBC priority. To help protect your card from fraudulent activity: Visa Debit Card to access your HSBC • Sign your card as soon as you receive it • Keep your PIN secure – do not store your PIN with account(s). Enjoy the convenience of your card, don’t tell anyone your PIN and make sure shopping online, over the phone you prevent anyone from seeing your PIN or accessing your money in over • Check your statements and transactions regularly on Internet Banking and Phone Banking to identify any 170 countries around the world, fraudulent activity or transactions you don’t recognise wherever Visa is accepted. • Inform us straight away if you identify any fraud or want to dispute a transaction Your new card gives you access to Activate your card more ATMs and enables you to make Before you can use your HSBC Visa Debit Card, you purchases all over the world using your will need to activate it.
[Show full text]
Connections & Collaboration
APCA Annual Review 2016 The Australia Payments Environment Connections & Collaboration APCA Annual Review 2016 Australian Payments Clearing Association 1 APCA Annual Review 2016 Connections & Collaboration Click here to return to Contents Contents Chair and CEO Message 3 The Australian Payments Clearing Snapshot 4 Association has Highlights 6 been at the heart of the Australian The Australia Payments Environment 7 payments system for Driving Payments 10 close to 25 years. Evolution As a member organisation and industry association, we have grown to represent the needs of a diverse set of stakeholders, as the payments system itself has evolved. With a clear understanding of the requirements Positioned for 14 of a digital economy, we are the home for the Future collaboration and cross industry innovation. In our role as self-regulatory body for payments, we bring rigour to the application of existing regulation and an inquisitive, front-footed Engaging with approach to supporting the requirements the Community 18 of the emerging payments landscape. Decision Making 22 Glossary & Contact 29 APCA has 103 members including Australia’s leading financial institutions major retailers, payments system This Annual Review is designed to provide our members and stakeholders with a summary of what was achieved operators and other in financial year 2015-2016. References in this report to payments service providers. a year are to financial year ended 30 June 2016 unless otherwise stated. A full list of our members is available on page 28. Australian Payments Clearing Association 2 APCA Annual Review 2016 Connections & Collaboration Chair and CEO message The Australian payments landscape has never been more vibrant and it’s for this reason that we have chosen the theme of ‘connections and collaboration’ for our annual report this year.
[Show full text]
Privacy Policy Your Personal Information Is Important to Us
Privacy Policy Your personal information is important to us. Read this notice to find out how we collect, store, use and share your personal information. 1. 2. 3. HOW WE COLLECT AND STORE WHAT WE USE YOUR WHO WE SHARE YOUR YOUR INFORMATION INFORMATION FOR INFORMATION WITH We collect your information We use your information We may share your information • when you interact with us • to provide products and services • with other companies and third to you parties who help us to provide • when you visit our websites or services to you or who act for us use our products, services and • to market products or services mobile apps to you if you’ve given us your • with other HSBC group consent to do so companies • from other people and companies • to comply with laws, regulations • with third parties who you • from other HSBC group and requirements, including our consent to us sharing your companies. internal policies information with We store your information in • to help us to prevent financial • with local or overseas law physical or electronic form on our crimes enforcement agencies, industry systems, our service providers’ bodies, regulators or authorities systems or a third party cloud • to improve our products, services locally or overseas. and marketing • with the other third parties set out in section C. We comply with the laws of • for the other purposes set out in Australia. section A. We may share your information locally or overseas. You can access your You can set your marketing You can contact us about information preferences how we have handled your information You can request access to the You can contact us at any time if information we store about you.
[Show full text]
AUSTRALIA BANKING 1 June 2021
Up to date business Industry intelligence reports covering developments in the world’s SnapShots fastest growing industries N0.: 26680 Follow us on : AUSTRALIA BANKING 1 June 2021 This Week’s News • Reuters - Australia’s home prices surge, adding challenges for dovish RBA - 1/6/2021 Australian home prices surged in May while approvals to build new houses reached record highs, helped by super-low rates, adding yet another challenge for the country’s central bank, which wants to keep rates low until inflation revives. Contents For the complete story, see: https://www.reuters.com/world/asia-pacific/australias-home-prices-surge-adding- challenges-dovish-rba-2021-06-01/ • News and Commentary • Bloomberg.com - Australia Central Bank Maintains Policy as Bond Target Looms - • Media Releases 1/6/2021 Australia’s central bank maintained its policy settings as it prepares to decide on extending • Latest Research its yield target and quantitative easing programs, with a Covid-19 lockdown complicating the • The Industry outlook. For the complete story, see: https://www.bloomberg.com/news/articles/2021-06-01/australia-central-bank-keeps- • Leading Companies in the Industry policy-setting-as-bond-target-looms • AFR - How Macquarie Bank has blitzed the mortgage market - 1/6/2021 Each month when the prudential regulator releases mortgage lending data for individual banks, the first thing competitive bankers do is look at the performance of Macquarie Bank. For the complete story, see: https://www.afr.com/chanticleer/how-macquarie-blitzed-the-mortgage-market-20210601-
[Show full text]
Order: Now, Therefore, It Is Hereby
Dennis et al v. JPMorgan Chase & Co. et al Doc. 449 Case 1:16-cv-06496-LAK-GWG Document 448-1 Filed 02/10/21 Page 1 of 2 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK RICHARD DENNIS, SONTERRA CAPITAL MASTER FUND, LTD., FRONTPOINT FINANCIAL SERVICES FUND, L.P., FRONTPOINT ASIAN EVENT DRIVEN FUND, L.P., FRONTPOINT FINANCIAL HORIZONS FUND, L.P., and Civil Action No. 16-cv-06496 ORANGE COUNTY EMPLOYEES RETIREMENT Hon. Gabriel W. Gorenstein SYSTEM, on behalf of themselves and all others similarly situated, Plaintiffs, v. JPMORGAN CHASE & CO., JPMORGAN CHASE BANK, N.A., BNP PARIBAS, S.A., THE ROYAL BANK OF SCOTLAND GROUP PLC, THE ROYAL BANK OF SCOTLAND PLC, RBS N.V., RBS GROUP (AUSTRALIA) PTY LIMITED, UBS AG, AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD., COMMONWEALTH BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED, WESTPAC BANKING CORPORATION, DEUTSCHE BANK AG, HSBC HOLDINGS PLC, HSBC BANK AUSTRALIA LIMITED, LLOYDS BANKING GROUP PLC, LLOYDS BANK PLC, MACQUARIE GROUP LTD., MACQUARIE BANK LTD., ROYAL BANK OF CANADA, RBC CAPITAL MARKETS LLC, MORGAN STANLEY, MORGAN STANLEY AUSTRALIA LIMITED, CREDIT SUISSE GROUP AG, CREDIT SUISSE AG, ICAP PLC, ICAP AUSTRALIA PTY LTD., TULLETT PREBON PLC, TULLETT PREBON (AUSTRALIA) PTY LTD., AND JOHN DOES NOS. 1-50, Defendants. ORDER Dockets.Justia.com Case 1:16-cv-06496-LAK-GWG Document 448-1 Filed 02/10/21 Page 2 of 2 UPON the Court’s Order dated October 14, 2020 (ECF No. 423) (the “October 14 Order”), which directed Plaintiffs’ counsel to update the Court on the status of class notice discovery,
[Show full text]
Personal Banking Booklet HSBC Personal Banking Booklet Contents
24 September 2021 HSBC Personal Banking Booklet HSBC Personal Banking Booklet Contents INTRODUCTION: THIS BOOKLET AND PDS 6 1. WHO’S THIS AGREEMENT BETWEEN 7 2. WHICH PRODUCTS AND SERVICES DOES THIS BOOKLET AND PDS APPLY TO? 7 3. WHERE WILL YOU FIND IMPORTANT INFORMATION ABOUT YOUR AGREEMENT WITH US? 9 PART A: USING YOUR PERSONAL BANKING PRODUCTS 13 Security 13 4. HOW DO WE MAKE SURE WE’RE DEALING WITH YOU? 13 5. KEEPING UP SECURITY 14 6. WHAT SHOULD YOU DO IF YOU SUSPECT AN INCORRECT, UNAUTHORISED OR MISTAKEN ELECTRONIC PAYMENT FROM YOUR ACCOUNT? 17 7. REPORTING A LOST OR STOLEN CARD, CHEQUE OR DEVICE; SUSPECTED UNAUTHORISED TRANSACTION, BREACH OF ACCESS CODE OR PIN, OR A MISTAKEN INTERNET PAYMENT 23 8. WHEN WE AREN’T RESPONSIBLE FOR THINGS THAT GO WRONG 24 Payments 25 9. MAKING PAYMENTS ON BUSINESS DAYS 25 10. ADJUSTING PAYMENTS TO YOUR ACCOUNT 25 11. PAYMENTS INTO YOUR ACCOUNT (OTHER THAN BY CHEQUE) 26 12. MAKING PAYMENTS BY DIRECT DEBIT 27 13. PAYMENTS INTO YOUR ACCOUNT BY CHEQUE 28 14. PAYMENTS INTO YOUR ACCOUNT BY MISTAKE OR FRAUD 32 15. WHEN WE CAN REFUSE TO ACCEPT PAYMENTS INTO YOUR ACCOUNT 34 16. BLOCKING PAYMENTS, PAYMENT DEVICES, SERVICES AND ACCOUNTS 34 17. HOW WE DECIDE WHETHER TO MAKE A PAYMENT FROM YOUR ACCOUNT 35 18. PAYMENTS FROM YOUR ACCOUNT 37 19. CANCELLING OR CHANGING PAYMENTS (OTHER THAN CHEQUES) 47 HSBC Personal Banking Booklet 20. REFUNDS AND RETURNED PAYMENTS 48 Foreign Currencies 49 21. FOREIGN CURRENCIES 49 Overdrafts, Charges and Interest 52 22. OVERDRAFTS 52 23.
[Show full text]
New Payments Platform Roadmap 2019
New Payments Platform Roadmap 2019 Enhancing the platform’s capabilities 28 October 2019 NPP AUSTRALIA LIMITED ABN: 68 601 428 737 © 2019 NPP Australia Limited. Third party material reproduced with permission. Page 2 Introduction The New Payments Platform (NPP) is designed to support a 24/7 modern, digital economy. It provides a fast, flexible and data-rich payments system that enables Australian consumers, businesses and government agencies to make real-time data rich payments between accounts at participating Australian financial institutions. In contrast to payments between bank accounts using the Direct Entry system (which are settled in batches, several times during the day or the next business day), payments made by the NPP move value in real-time between bank accounts, are available 24/7/365 and can carry more data. Operating as utility payments infrastructure, the NPP was commissioned and funded by NPP Australia Limited’s (NPPA) founding shareholders1 for and on behalf of the Australian payments industry. NPPA is a public company established to oversee the development and operation of the NPP. The NPP brings enormous potential for future payments innovation through its speed, data capability, open-access design and unique layered architecture. The platform can support multiple products and services as well as enable digital processes, which can deliver back-office efficiencies and cost savings to Australian businesses and government agencies. The NPP has extensive capabilities, in particular: NPPA is committed to ongoing investment to extend and enhance the capability of the platform to meet the needs of participating financial institutions, payment providers and users of the wider payments ecosystem.
[Show full text]