Talks are ongoing between Australia's financial institutions and its mobile banking and payments companies, to establish a new security protocol. The new protocol aims to address the levels of security and privacy requirements for customer-sensitive information for banks and payment companies such as Apple Pay, Android Pay, and Samsung Pay. In addition, Australian regulators have been working with their counterparts in New Zealand on an agreement that will allow customers to use digital currencies like bitcoin or ethereum without having to register them with FinCE@@
Talks are ongoing between Australia's financial institutions and its mobile banking and payments companies, to establish a new security protocol. The new protocol aims to address the levels of security and privacy requirements for customer-sensitive information for banks and payment companies such as Apple Pay, Android Pay, and Samsung Pay. The proposed agreement would involve Apple, Google, and Samsung signing a voluntary code to maintain certain levels of security, which the regulator would then have the power to enforce.