News (5)

  • Westpac: SMS authentication doesn't help security

    SMS-based two factor authentication has been touted as a way of improving online banking security but Westpac's head of information security disagrees.

  • RBA criticises payments innovation

    Australia's central bank has criticised the nation's four largest commercial banks for shirking on investments in payment systems technology, resulting in a lack of innovation and neglect of systems like EFTPOS.

  • Westpac to serve chips with its credit cards

    Westpac Bank is set to improve its security credentials and tackle card swiping scams by issuing credit card holders with chip-embedded smartcards.

  • Ease not fraud ushers in PIN for credit cards

    Credit card users will be given the option of entering a PIN as an alternative to signing their name to authenticate a transaction under a banking industry initiative scheduled to start today.

  • Govt pressured over access card network strategy

    Government attempts to build the payments infrastructure required for the fledgling welfare access card would cost over AU$500 million and represents a "humongous" IT project risk, according to a group of banks and e-payment providers.

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