The 5 trends shaping global payments in 2019

The financial landscape in Australia changed significantly in 2018.  Last year, the government announced the first stage of open banking would be implemented in July 2019. Also announced last year by the Australian Prudential Regulatory Authority (APRA) was a change that opened Australia’s shores to a new generation of banks – neobanks – to compete with the Big Four.

As we enter 2019, we’ll see the payments industry continue to evolve faster than ever to meet global demands for payment solutions that are quick, efficient and transparent. The year ahead will be a defining one for the payments landscape, with five key trends driving further change globally, including: real-time payments replacing ACH and going mainstream; local payments legislation being mirrored around the world; challenger banks innovating consumer financial services; seamless pay-in/pay-out solutions becoming the norm; and common logins streamlining payments identity verification.

To find out more about these fintech predictions for 2019, please find a link to download the full report here: https://www.hyperwallet.com/five-trends/