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Australian BNPLs, mobile wallets face tougher regulations
Asian Banking & Finance
|Issue 113
Buy now pay later (BNPL) providers and mobile wallets in Australia, look out: the central bank is pushing to amend its retail payment laws in 2024 to better regulate the up-and-coming payment entities.
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The Retail Bank of Australia (RBA) noted the need to modernise Australia's regulatory architecture and payments infrastructure in order to support innovations in the payments industry, says Governor Michele Bullock in an address at the Australian Payment Network Summit.
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