Media Releases

  • Payments Fraud

    Tackling CNP fraud remains a top priority for industry. Participants and stakeholders are working collaboratively to expedite industry-wide initiatives.

     
     
     
     
     
     
     
     

    MEDIA RELEASE

    19 December 2017

    Consumers reminded to take care when shopping online

    The interim payments fraud data released today by the Australian Payments Network, the payments industry’s self-regulatory body, serve as a timely reminder to consumers to take care when shopping online over the busy retail season.

    Today’s figures for the 12 months to 30 June 2017 reflect the key trends highlighted in Australian Payments Fraud – Jan-Dec 2016 Data released by AusPayNet in August 2017. With chip technology providing strong protection against counterfeit cards, fraud is continuing to migrate to online channels (card-not-present).

    Transactions on Australian cards totalled more than $730.1 billion over the 12-month period – up 3.8%.  Card fraud increased by 3.1% to $538.2 million:

    • Counterfeit/skimming fraud dropped 34%   
    • Card-not-present fraud increased 10%, now accounting for 82% of all fraud on Australian cards 

    AusPayNet CEO Leila Fourie said, “More and more of us are shopping online and this presents more opportunities for cyber criminals. With the peak Christmas period just around the corner, we need to be security aware and take simple steps to help reduce risk when shopping online.”

    Tackling card-not-present fraud is a high priority for industry, and participants and stakeholders are working collaboratively to expedite industry-wide initiatives.

    Consumers can take simple steps to help protect against online card fraud including:

    • registering for, and using their financial institution’s online fraud prevention solutions, whenever prompted
    • being wary of offers that seem too good to be true – doing checks to make sure the business is legitimate 
    • only providing their card details on secure and trusted websites – including looking for the locked padlock.  
    • always keeping PC security software up-to-date and doing a full scan often
    • regularly checking statements and reporting any unusual transactions to their financial institution immediately

    “With malware and phishing attacks becoming increasingly sophisticated, we also need to be extremely wary of unsolicited emails and text messages from people we don’t know. Don’t click on the link provided and don’t be tricked into divulging confidential data such as your password,” said Dr Fourie.  

    Australians are not liable for any fraudulent transactions on their payment cards and will be reimbursed as long as they have taken due care.

    The interim fraud data release is available at www.auspaynet.com.au. Comprehensive payments fraud data for calendar year 2017 will be released in mid-2018.

    ENDS

    For more information: Ida Turner – AusPayNet Communications | +61 409 716 556 | iturner@auspaynet.com.au

    AUSTRALIAN PAYMENTS NETWORK LTD. ABN 12 055 136 519
    Level 23, Tower 3, International Towers Sydney, 300 Barangaroo Avenue, Sydney, NSW 2000 | auspaynet.com.au | 

     

     
     
     
     
     
     
     
  • The Digital Economy

    Cash has lost its position as the dominant retail payment method, with cards now accounting for 52% of payments.

     

    MEDIA RELEASE

    30 November 2017

    Cards dominate as Australians abandon cheques and cash

    The milestones report entitled Digital Economy1 released today by Australian Payments Network (AusPayNet), the payments industry self-regulatory body, reinforces that individuals and businesses are abandoning cheques and cash at a record rate as they embrace digital payments.

    Today’s report highlights that in the 12 months to 30 June 2017, cheque use plunged 21% to dip under 100 million for the first time - the largest drop ever-recorded. This follows a 17.2% drop for the same period in 2016, and a 15.7% drop in 2015. The value of cheques dropped by 4.22% for the 12-month reporting period. This compares to 1.76% the previous year.

    Cash has lost its position as the dominant retail payment method, with cards now accounting for 52% of payments. This strong preference for cards is reflected in an accelerated decline in ATM withdrawals. The number of ATM withdrawals dropped by 7.5% to 625.4 million following a 6.6% drop the previous 12 months.

    CEO of AusPayNet, Dr Leila Fourie said “The move away from cheques and cash is not surprising. What is surprising, however, is the accelerated rate at which this is happening. In our fast-paced, 24/7 society, consumers and businesses are consistently choosing faster, convenient payment options as new technologies shape a digital first mind-set.”

    Digital payments continued their double-digit growth - up by 11.5% on the previous year overall. In the 12 months to 30 June 2017, Australians made:

    • 5.2 billion debit card payments – up 14.2%
    • 2.6 billion credit card payments – up 9%
    • 1.2 billion direct debit payments – up 13%
    • 2.6 billion direct credit payments – up 6.1%

    Australia’s card use is enabled by one of the highest penetrations of POS devices (39,337) per million inhabitants, ahead of Canada (38,870), Italy (36,902), Singapore (33,219) and the United Kingdom (32,858). Australia also has a comparatively high smartphone penetration, estimated at 84% in 2016.

    “With our high use of smartphones, Australia is well-positioned for the next wave of payments innovation, and the industry’s New Payments Platform for faster payments will provide a stimulus,” said Dr Fourie.

    The regulatory environment is continuing to evolve to support the transition to the digital economy. The Report provides an update on the Black Economy Taskforce, open banking, and card surcharging reforms.

    The Digital Economy report and accompanying infographic are available here.

    ENDS 

    For more information:
    Ida Turner
    – AusPayNet Communications +61 409 716 556 iturner@auspaynet.com.au 

    1 Australian Payments Network releases regular Milestones Reports to review progress against the action plan it published in May 2012. See “The Decline of Cheques: Building a Bridge to the Digital Economy”. 

    AUSTRALIAN PAYMENTS NETWORK LTD. ABN 12 055 136 519
    Level 23, Tower 3, International Towers Sydney, 300 Barangaroo Avenue, Sydney, NSW 2000 | auspaynet.com.au | 

     
  • Payments Fraud

    Card fraud is increasing as Australians continue to embrace the convenience of cards and spend more than ever on them.

    MEDIA RELEASE

    3 August 2017 

    2016 Australian Payments Fraud Data Released
    Fraud overwhelmingly card-not-present as payments move increasingly online

    • Card and cheque fraud accounted for under 0.03% of the $1,869 billion total transacted

    • As payments move online, so too are fraudsters: card-not-present fraud* accounted for 78% of total card fraud

    • Australian card fraud rates compare favourably to the UK and US, reflecting strong industry responses and availability of anti-fraud tools

    The annual fraud report released today by payments industry body, Australian Payments Network has found card fraud is increasing as Australians continue to embrace the convenience of cards and spend more than ever on them. The fraud rate remains unchanged relative to the mid-year fraud statistics released by AusPayNet in December 2016. In 2016, Australians transacted a record $714.5 billion on their cards; fraud accounted for $534 million (0.074%) of this total.

    The report highlights that as Australian merchants and consumers continue to embrace online platforms – there is a correlating increase in card-not-present fraud. CNP fraud increased to $417.6 million, accounting for 78% of total card fraud in 2016.

    AusPayNet CEO Leila Fourie said:

    “Card-not-present fraud continues to grow as perpetrators follow increased payments activity online. Australia compares favourably to the UK and US when it comes to fraud rates – and the industry is continuing its efforts to provide fraud prevention strategies that adapt to changing payments trends.”

    Dr Fourie said merchants need to use fraud prevention tools when conducting business online.

    “Australia is well-advanced in fraud prevention technology, thanks to the industry’s leading investment in EMV chips, tokenisation and online customer authentication tools. Over the next year our focus is to continue to educate businesses about online fraud prevention and support the roll-out of risk-based customer authentication including investigations into how biometrics, geolocation and social media enable this,” said Dr Fourie.

    The report cites recent research that highlights the growth of mobile wallets and sophisticated shopping carts and suggests that by 2020, only one-fifth of transactions will involve the input of card details in Internet browsers.

    “As Australia transitions towards even higher levels of online payments, customers and merchants need to increase security awareness,” said Dr Fourie.

    Merchants need to work with their existing providers – acquiring bank, payments gateway provider, and/or website developer – to implement solutions that can detect and stop fraudulent payments.

    Merchants can access AusPayNet’s free ‘Get Smart About Card Fraud Online’ training course – which teaches small and medium businesses about how to protect themselves and their customers from online card fraud.

    “We will be launching a new education program that builds on the existing training program in the coming year,” said Dr Fourie.

    Consumers can take simple steps to protect against card-not-present fraud, such as looking for the locked padlock on websites before entering their card details and making sure their PC security software is up to date.

    Australian consumers are not liable if any fraudulent transactions are made on their accounts, and will be reimbursed as long as they have taken due care.

    For More information please contact:
    Ida Turner - Australian Payments Network: +61 409 716 556 iturner@auspaynet.com.au

    Celia Moore - FTI Consulting: + 61 2 8298 6132 celia.moore@fticonsulting.com

    Notes for Editors
    Fraud Prevention Tips

    Merchants can help protect against online card fraud by:

    • Using a fully hosted payment gateway provider to collect their payments.

    • Watching for suspicious orders. Is the order unusually large for their business? Is the customer trying

      various cards in order to make a successful payment?

    • Avoiding shipping re-saleable goods to a temporary address (e.g. hotel) or to a PO box number.

    • Never taking payments on behalf of any other business or person.

    • Only making refunds to the card originally used to pay for the goods.

    • Taking advantage of the tools available such as online authentication methods – American Express SafeKey, Mastercard SecureCode and Verified by Visa.

    Consumers can take simple steps such as:

    • Always keeping their PC security software up-to-date and doing a full scan often.

    • Only providing their card details on secure websites - looking for the locked padlock.

    • Registering for, and using their financial institution’s online fraud prevention solutions whenever prompted.

    • Checking statements carefully and reporting any suspicious transactions to their financial institution.

      Definitions

      Card Not Present (CNP) Fraud: occurs when valid card details are stolen and then used to make purchases or other payments without the physical card, mainly online or by phone.

      Methodology

      AusPayNet has been publishing the fraud statistics it collects from financial institutions twice-yearly since 2006. The aggregated data helps inform businesses and consumers about payments fraud issues, and assists financial institutions in monitoring fraud trends and developing targeted mitigation strategies.

      About Australian Payments Network (AusPayNet)

      Australian Payments Network (formerly Australian Payments Clearing Association) is the self-regulatory body for Australia’s payments industry. We have more than 130 members and participants, including Australia’s leading financial institutions, major retailers, payments system operators – such as major card schemes – and other payments service providers.

      AUSTRALIAN PAYMENTS NETWORK LTD. ABN 12 055 136 519
      Level 23, Tower 3, International Towers Sydney, 300 Barangaroo Avenue, Sydney, NSW 2000 | auspaynet.com.au | 

  • Towards a Digital Economy

    "The vast majority of us are moving away from cash and cheques faster than ever before."

    MEDIA RELEASE

    26 May 2017 

    Cheque use plunges as Australians choose digital payments

     

    The Milestones Reportreleased today by the payments industry self-regulatory body Australian Payments Network (previously Australian Payments Clearing Association), shows that the decline in cheque and cash use continues to accelerate as Australians embrace digital payments.

    Today’s report shows that cheque use plunged 20% to 111.6 million - the largest drop ever recorded. The value of cheques dropped by 6% over the same period, after remaining flat in 2015 and dropping by less than 1% in 2014. Over the last five years, cheque use has dropped 56%.

    Australia’s digital economy underpins what can increasingly be characterised as a less-cash society. The number of ATM withdrawals dropped 7.5% to 648.5 million in 2016 following a 5.5% drop in 2015 and a 4.7% drop in 2014. Since 2011, ATM withdrawals have dropped by 22%.

    CEO of the Australian Payments Network, Dr Leila Fourie said “Looking at the payment choices that Australians make, it’s clear that the vast majority of us are moving away from cash and cheques faster than ever before. This is happening because of widespread use of new technology combined with a strong preference for faster and more convenient payment options.”

    Consumers’ preference for digital payments is reflected in the strong year-on-year growth in card and direct entry transactions:

    • Australians used their cards 12.3% more in 2016, making 7.4 billion transactions.

    • Direct entry transactions (direct debit and direct credit) increased by 8.6% to 3.5 billion.

    Over the last five years, card transactions grew by 72% and direct entry by 36%.

    Increased smartphone penetration, which reached 84% in 2016, up from 76% in 2014, is an important contributing factor.

    Australia’s online retail spend was estimated at $21.6 billion in 2016 and encouragingly from a digital inclusion perspective, this spend is not restricted to digital natives. Older Australians are using online shopping platforms more, with domestic online spending growing by 8.7% for those in the 55-64 age group, and 7.5% for 65+.

    The Report also tracks progress on initiatives supporting Australia’s transition to the digital economy including the industry’s New Payments Platform and Australian Payments Plan.

    The Milestones Report and accompanying infographic are available here.

    ENDS

     

    Australian Payments Network releases regular Milestones Reports to review progress against the action plan it published in May 2012. See “The Decline of Cheques: Building a Bridge to the Digital Economy”

    Media Contact: Ida Turner, Australian Payments Network Communications Mob: +61 409 716 556

    Australian Payments Network Limited. ABN 12 055 136 519
    Level 23, Tower 3, International Towers Sydney, 300 Barangaroo Ave, Sydney NSW 2000. Telephone +61 2 9216 4888 www.apca.com.au

  • Announcing our New Name

    "Australian Payments Network" reflects the importance of the network in helping make payments thrive. 

    MEDIA RELEASE

    13 April 2017

    ANNOUNCEMENT: Name Change

     

    We are pleased to advise that the Australian Payments Clearing Association has changed its name to Australian Payments Network Limited.

    The new name reflects the importance of the network - both in terms of the payments network and the network of members and stakeholders that help the payments system thrive.

    APCA’s voting members unanimously approved the proposal to change the company’s name at the General Meeting held on 4 April 2017. The name change was subsequently approved by ASIC on 12 April 2017.

    The new name is effective immediately. You will see ‘Australian Payments Network’ on our corporate communications, email signatures, and information about our name change on the APCA website.

    Our new corporate identity will be launched towards the end of May. This is when we will start using corporate materials featuring our new logo, new email addresses and a new domain name.

    Why change?

    The rebrand is part of the company’s repositioning to more effectively meet the needs of the changing payments landscape.

    Established in 1992, our purpose was to manage the day-to-day operation of clearing systems and as such, “Australian Payments Clearing Association” was both descriptive and accurate. But the world of payments has changed significantly, as has our role.

    Today, we are the home for collaboration and cross-industry innovation. We play an important role in driving continuous improvement, bringing together members and a growing number of new stakeholders. Moreover, in our role as champion of the payments system, we help the payments network to thrive.

    We are very excited about the opportunities the rebrand offers and look forward to working with stakeholders to continue to champion the payments system.

    Dr Leila Fourie
    CEO
    Australian Payments Network

     

    Australian Payments Network Limited ABN 12 055 136 519
    Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9216 4888 Email info@apca.com.au www.apca.com.au

  • Payments Fraud

    Financial institutions and card schemes are actively working to tackle CNP fraud with a wide range of initiatives.

    MEDIA RELEASE

    16 December 2016

    APCA releases interim payments fraud data

     

    The Australian Payments Clearing Association, the payments industry self-regulatory body, today released interim payments fraud statistics covering the 12 months to 30 June 2016.

    The interim figures show that Australians spent $703 billion on their cards over the period – of this total 0.07%, or $521 million, was fraudulent. This represents a card fraud rate of 74.2 cents per $1,000 spent, up from 60.4 cents per $1,000 spent on the previous 12 months.

    The rise in card fraud is driven by increasing card-not-present (CNP) fraud. CNP fraud occurs when card details are stolen and then used to make purchases or other payments without the card, mainly online.

    Today’s figures show that CNP fraud increased from $323 million to $402 million over the 12 month period and accounted for 77% of all fraud on Australian cards.

    APCA CEO Leila Fourie said, “Increasing CNP fraud reflects the growth in e-commerce and a global trend in online card fraud and cybercrime in general. Financial institutions and card schemes are actively working to tackle this fraud with a wide range of initiatives.”

    Industry continues to progress the roll-out of significant measures including:

    • Improved cardholder authentication through one-time passwords and biometrics.

    • Reduced exposure of card data through tokenisation and adherence to global security standards for cards.

    • Fraud identification and prevention in real-time through dedicated analytics tools.

      “We have been successful in reducing counterfeit and skimming fraud at point-of-sale terminals in Australia with chip technology. By using the online authentication and fraud detection technologies available, we can do the same in the CNP space,” said Dr Fourie.

      “This year, we have also commissioned research on the impact of CNP fraud on consumers and the mitigation strategies taken in other jurisdictions, developed industry guidelines for implementing a range of fraud detection solutions, and are engaging with merchants to understand their needs and expectations,” said Dr Fourie.

      Merchants can help protect their businesses and customers from online fraud by taking advantage of the tools available including fraud detection and online authentication solutions.

      Consumers can take simple steps such as only providing their card details on secure websites and always keeping their PC security software up-to-date. Australians are not liable for any fraudulent transactions on their payment cards and will be reimbursed as long as they have taken due care.

      The interim fraud data are consistent with trends described in Australian Payments Fraud – Details and Data for 2015, released by APCA in August 2016.

      Today’s figures are available at www.apca.com.au. Comprehensive payments fraud data for 2016 will be released in mid-2017.

                                                                          ENDS

    Media Contact: Ida Turner, APCA Communications Tel: (02) 9216 4817 Mob: 0409 716 556

    Australian Payments Clearing Association Limited ABN 12 055 136 519
    Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9216 4888 Facsimile +61 2 9221 8057 www.apca.com.au

     

    Tips on how to protect against online card fraud

    Tips for merchants:

    • Use a fully hosted payment gateway provider to collect your payments.

    • Watch for suspicious orders. Is the order unusually large for your business? Is the customer trying various cards in order to make a successful payment?

    • Avoid shipping re-saleable goods to a temporary address (e.g. hotel) or to a PO box number.

    • Never take payments on behalf of any other business or person.

    • Only make refunds to the card originally used to pay for the goods.

    • Take advantage of the tools available such as online authentication methods – American Express SafeKey, Mastercard SecureCode and Verified by Visa.

    Tips for consumers:

    • Always keep your PC security software up-to-date and do a full scan often.

    • Only provide your card details on secure websites - look for the locked padlock.

    • Register for, and use your financial institution’s online fraud prevention solutions whenever prompted.

    • Check your account statements and report any suspicious transactions to your financial institution. 

     

     

  • Towards a Digital Economy

    Australia is making great strides in moving away from cheques and cash.

    23 November 2016

     

    MEDIA RELEASE

    Digital payments taking over from cheques

    The Milestones Report(1) released today by the Australian Payments Clearing Association, the payments industry self-regulatory body, shows that the drop in cheque use in the 12 months to June 2016 is the greatest annual drop in the last decade.

    Today’s report shows that cheque use dropped by 17.2% to 126.4 million. This compares to a 15.7% drop in 2015 and 13.5% in 2014. Since 2006, cheque use has dropped 73%. Cheques now only account for about one percent (1.2%) of all non-cash retail payments.

    Cash use also continues to drop steadily. The number of ATM withdrawals dropped by 6.6% to 675.8 million - also the greatest annual drop in the last decade - having dropped 4.9% in 2015 and 4.2% in 2014.

    In contrast, the use of digital payments is growing strongly:

    • Direct entry transactions (direct debit and direct credit) grew by 7.2% to 3.3 billion.
    • Card payments (credit and debit cards) grew by 12.1% to 7.0 billion.

    APCA CEO, Leila Fourie said “Australia is making great strides in moving away from paper payments – both cheques and cash. This is important from an efficiency viewpoint, for customer convenience and for digital inclusion.”

    Online payments are increasingly attractive to older Australians. Citing recent research, the Milestones Report notes that in 2015 more than half of internet users over the age of 65 made banking transactions online (53%) and just under a half (48%) had paid bills online

    The Report also highlights that:

    • Australia is reported second in the world for smartphone use, with 77% of Australians owning a smartphone.

    • 7.7 million Australian households have internet access – this represents 86% of all households, up from 83% last year.

    “Australia is leading the way in digital payments with continued strong growth in card payments, impressive smartphone penetration and improved digital literacy. The industry’s New Payments Platform will provide a stimulus for yet more innovation,” said Dr Fourie. 

    The Report notes that the New Payments Platform, new national infrastructure for fast, flexible, data-rich payments, will further support the transition to digital payments. Other industry and government initiatives noted in the Report include:

    • The Australian Payments Council’s initiatives set out in the Australian Payments Plan

    • Electronic conveyancing for property settlement through the PEXA service

    • Government’s SuperStream for the superannuation system 

    The Milestones Report and accompanying infographic are available at www.apca.com.au.

    ENDS

    1.  APCA releases regular Milestones Reports to review progress against the action plan it published in May 2012. See “The Decline of Cheques: Building a Bridge to the Digital Economy” 

    Media Contact: Ida Turner, APCA Communications Tel: (02) 9216 4817 Mob: 0409 716 556 

    Australian Payments Clearing Association Limited ABN 12 055 136 519
    Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9216 4888 Facsimile +61 2 9221 8057 www.apca.com.au 

  • Payments Fraud

    Card fraud is increasing online, as chip technology continues to prove effective in tackling counterfeit fraud.

    Media Release

    18 August 2016

    Payments fraud in Australia

     

    The payments fraud report released today by the Australian Payments Clearing Association (APCA), the payments industry self-regulatory body, shows that card fraud is increasing online, as chip technology continues to prove effective in tackling counterfeit fraud in Australia.

    “Australia Payments Fraud – Details and Data” shows that of the $1.92 trillion Australians spent on cheques and cards in 2015, 0.025% or $469 million worth of transactions were fraudulent.

    Australia’s rate of card fraud increased from 58.8 cents in 2014 to 66.8 cents per $1,000 spent, driven by a 21% increase in card not present (CNP) fraud. The increase in card fraud is in line with global trends; card fraud in the UK increased from 75 pence in 2014 to 83 pence per £1,000 in 2015.

    CNP fraud occurs when card details are stolen and then used to make purchases or other payments without the card, mainly online. CNP fraud – domestically and overseas - now accounts for 79% of all Australian card fraud by value, up from 77% in 2014. 

    On Australian cards used overseas:

    • Counterfeit and skimming fraud increased by 77% to $28.1 million
    • CNP fraud increased by 13% to $226.3 million

    Acting APCA CEO Andy White said: “As the US progressively rolls-out chip technology, criminals are targeting those terminals that are still mag stripe only and Australian cards have been caught up in this fraud. Large-scale data breaches are also contributing to the growing level of online card fraud.” 

    On Australian cards used domestically:

    • Counterfeit / skimming fraud dropped by 10% to $22.9 million
    • CNP fraud increased by 38% to $136.7 million. 

    “Counterfeit fraud is dropping in Australia as a result of chip technology and closer cooperation between financial institutions and law enforcement. Fraud is a constant battle and as the industry’s efforts prove effective in this channel, criminals are moving online.”

    “We’re actively working with financial institutions and card schemes - through our cards forum – to explore what an industry-wide solution to online fraud could look like, that could make a real difference in this space,” said Mr White. 

    The report outlines industry measures to prevent payments fraud including:

    • Reducing opportunities for sensitive card data to be stolen – through tokenisation and continued efforts by merchants and service providers to comply with global security standards for cards.
    • Identifying and stopping fraudulent payments in real-time – through chip technology and dedicated analytics tools.
    • Authenticating the cardholder – increasingly through one-time passwords and biometrics and the mandatory use of PINs for card present transactions. 

    “Consumers can do simple things to help prevent online card fraud like keeping their PC security up to date and looking for the padlock before entering card details to make sure the website is secure,” said Mr White.

    Australian consumers are protected from personal loss caused by fraud and will be refunded as long as they have taken due care with their confidential data.

    “Australia Payments Fraud – Details and Data” is available at www.apca.com.au

    ENDS

    Media Contact: Ida Turner, APCA Communications Tel: (02) 9216 4817 Mob: 0409 716 556

    Australian Payments Clearing Association Limited ABN 12 055 136 519
    Level 6, 14 Martin Place, Sydney NSW 2000 Telephone +61 2 9216 4888 Facsimile +61 2 9221 8057 www.apca.com.au

     

    Tips on how to protect against online card fraud

    Tips for consumers:

    • Always keep your PC security software up-to-date and do a full scan often.

    • Only provide your card details on secure websites - look for the locked padlock.

    • Register for, and use your financial institution’s online fraud prevention solutions whenever prompted.

    • Check your account statements and report any suspicious transactions to your financial institution.

    Tips for retailers:

    • Use a fully hosted payment gateway provider to collect payments on your behalf.

    • Watch for suspicious orders. Is the order unusually large for your business? Is the customer trying

      various cards in order to make a successful payment?

    • Avoid shipping re-saleable goods to a temporary address (e.g. hotel) or to a PO box number.

    • Never take payments on behalf of any other business or person.

    • Only make refunds to the card originally used to pay for the goods.

    • Take advantage of the tools available such as online authentication methods – American Express SafeKey, Mastercard SecureCode and Verified by Visa. 

  • A New CEO

    Dr Leila Fourie is appointed the new Chief Executive Officer effective September 2016.

    MEDIA RELEASE

    06 July 2016

    APCA APPOINTS NEW CEO

     

    Dr Leila Fourie has been announced as the new CEO of the Australian Payments Clearing Association, the self-regulatory body for the payments industry.

    Dr Fourie’s business career spans more than 20 years working in consulting, investment banking, retail banking & capital markets. Her diverse experience has been acquired in some of South Africa’s leading companies in these fields, including Accenture, Standard Bank and the Johannesburg Stock Exchange (JSE).

    Dr Fourie joins APCA from the JSE where she served on the board as executive director. Prior to this, Dr Fourie was Managing Director of the Card Division of Africa's largest bank, Standard Bank.

    Rob Craig, Chair of APCA said, “We are excited to welcome Leila, who has a strong track record of driving change, and guiding industry-wide initiatives. The payments system is evolving rapidly and Leila is well-placed to lead industry through this time of change.”

    Through the course of her career, Dr Fourie has held senior executive positions and directorships of global portfolios, SA boards and US boards and has also served in the capacity as chairman of the board. Dr Fourie holds a PhD in Economic and Financial Sciences.

    During her tenure at the JSE, Dr Fourie was instrumental in shaping and leading strategic transformations that have improved performance and changed the direction of the
    business. Her key contributions include leading and sponsoring a number of critical industry-wide initiatives, including the national flagship T+3 settlements project for financial markets in South Africa.

    “I am thrilled to be joining APCA at this exciting time in Australian payments and I look forward to engaging the market and making a contribution to the future payments ecosystem," said Dr Fourie.

    Dr Fourie’s appointment is effective 12 September 2016. Andy White will continue his role as acting CEO until this time.

    Dr Fourie replaces Chris Hamilton, who announced his resignation in February 2016 before leaving the organisation in early May 2016. 

    ENDS

    Media Contact: Ida Turner - APCA Communications Tel: (02) 9216 4817 Mob: 0409 716 556 

    Australian Payments Clearing Association Limited ABN 12 055 136 519
    Level 6, 14 Martin Place, Sydney NSW 2000 Tel +61 2 9216 4888 Facsimile +61 2 9221 8057 www.apca.com.au