Leaders

Are we on track to become a cashless society?

Published

12 months ago

May 11, 2023

ticker NEWS

Australia and New Zealand have some of the lowest rates of cash used in the world, so what does it mean for businesses as consumer behaviours shift?

Bob Dylan once penned a famous song called “The Times They Are A-Changin'” back in 1963, and that title could not be truer 60 years later.

With the ability to move – and transact with – money without needing to have it in your hand, things have been progressing towards a cashless society.

Goods and services can be purchased at the tap of a card or a beep on your phone, and this trend has been noted in FIS Global‘s annual report, the Global Payment report.

“What we’re seeing at the moment is a clear trend of consumers moving towards digital alternative payment methods,” Senior Vice-President & General Manager, Global eCom, APAC at Worldpay from FIS Phil Pomford described to Ticker News Insight. “Customers are really looking for choice and convenience.

“If you look at the Buy Now, Pay Later scene, there’s been huge growth over time, and continue to maintain a sort of market share – around about 14 per cent – in the next three to four years.”

Pomford notes a transition from even using credit cards to having a digital wallet.

“Digital wallets have really overtaken credit card usage, especially online,” he adds. “And they’re now around about 31 per cent in Australia versus 28 per cent in the credit cards, and we think that trend will continue.”

So, what does the future of the cashless society start to look like a few more years down the track?

“We’ll see an evolution of the Buy Now Pay Later space with some regulations, obviously, coming down the pipe as well,” Pomford revealed.

“It will still remain a really strong popular choice to consumers.”

If that’s the consumer side, what about business merchants? How are they preparing their companies for this new ‘way’ of doing things without exchanging physical cash or swiping cards?

“I think it’s critical that businesses merchants, as we call them, really do stay ahead of the trends,” Pomford asserts. “They need to be aware of what, and where, consumers are moving towards.

“For example, making sure you’re providing the right wallets for your consumers to use in your market – that might be Apple Pay or Samsung Pay just to name a few.

“It is also ensuring you invest in your technology, making sure it is a seamless, safe and convenient experience for the consumer.”

For more information about FIS Global, head to their website, or view more information about the report here.

Leaders

How to overcome imposter syndrome in the workplace

Published

2 days ago

April 24, 2024

ticker NEWS

Skilled professionals and entrepreneurs are facing impostor syndrome amidst increasing workforce demands.

A growing number of professionals and entrepreneurs are grappling with the overwhelming effects of impostor syndrome, fostering hidden feelings of inadequacy and fear of exposure despite their competence.

Despite their expertise and accomplishments, many professionals and entrepreneurs find themselves grappling with feelings of unworthiness and self-doubt. These sentiments, often hidden behind a facade of success, stem from a fear of being exposed as fraudulent or inadequate in their roles.

According to a recent study by Calabasus in 2021, a staggering 65% of professionals suffer from impostor syndrome, shedding light on the pervasive nature of this issue.

However, despite its prevalence, impostor syndrome remains one of the least discussed yet most impactful challenges facing professionals today, as highlighted by research from KPMG.

Suzana Mihajlovic, Director of Your2minds shares her insights on how to combat imposter syndrome.

Leaders

How to defend against fraud and cyberattacks

Published

1 week ago

April 18, 2024

ticker NEWS

In the face of escalating fraud and cyberattacks targeting Australian retailers, businesses are actively seeking solutions to combat this growing menace.

The sentiment among Australian consumers reflects growing concern regarding fraud in online shopping.

To address these challenges, businesses are exploring various strategies to bolster protection for both themselves and their customers against fraudulent activities.

Hayley Fisher, Country Manager for Australia & New Zealand at Adyen, sheds light on Adyen’s 2024 Retail Index findings, highlighting the shifting landscape of fraud attacks for Australian retailers. #money #fraud #cyberattacks

Leaders

The ‘invisible killers’ causing concern

Published

1 week ago

April 17, 2024

Ticker News Insight - Sponsored Content

Companies and Governments are looking to turn awareness into action

The natural world is home to a diverse range of species that live in harmony with each other. However, the increasing use of pesticides, microplastics, and air pollution has been causing concerns about the impact on the environment and its inhabitants. These “silent killers” are threatening the delicate balance of the natural world, and the consequences could be catastrophic.

The concerns surrounding these “silent killers” highlight the need for greater awareness and action. Governments and industries are encouraged to take responsibility for their actions and work towards reducing their impact on the environment. Individuals can also play a role by making conscious decisions to reduce their use of pesticides, plastic products, and contributing to air pollution. Simple actions such as using organic products, reducing plastic use, and utilising alternative transportation can make a significant difference.

The Green Edition is presented by The ROOT Brands.For all media inquiries please get in touch here: tshuvah4u@yahoo.com