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Australian fintech company Assembly Payments has joined forces with British multinational bank Standard Chartered to launch a new ecommerce payments company
Banks risk loss of US$3 billion in payments revenue to digital payments growth, non-bank competitors
Australian banks are at risk of losing US$3 billion in payments revenue by 2025 due to the growth of digital payments and competition from non-banks.
More than half of Xinja’s deposits have come from Australia’s big four banks, a very strong signal that consumers are keen to embrace digital banking.