Due to a lack of pre-payment control, demand for using credit cards for procurement purposes is still very low. However, recent developments in Australia could change all that.
Although Australian banks are introducing their own tech solutions, start-up digital players are making inroads with the help of a new government-backed incubator.
Banks have been experimenting with Ripple’s technology, which could make payments far more efficient, but a recent report questions whether it can handle larger volumes.