Australia’s big banks will launch a new e-payment service in September.
Bank of Australia will start offering e-wallets for the first time next month and will make it easier for customers to use a credit card to pay bills online, according to a statement from the bank’s chairman, Glenn Stevens.
The move comes amid a boom in consumer-to-consumer payments and the expansion of online payments services like Uber and Paypal, which are offering services to millions of people around the world.
Mr Stevens said the new service would be similar to that offered by the Australian Reserve Bank, which he described as “very well established”.
“This will allow banks to focus on their core competencies of providing high-quality credit products, and they are in the best position to do that,” he said.
“Our ability to deliver on these objectives will enable us to deliver faster and cheaper payments to Australians, and in doing so, we will also make sure that we continue to support the Australian economy and provide services to our customers.”AAP/ABC