Faster banking courtesy of Reserve Bank

[ausproofs]

I understand your frustration. However from company and new technology introduction point, most would go with majority. As per below, Australia is leading the technology adoption when it comes to smartphones.

"Australians are buying, trading, advocating and everyone is getting involved. The rise of the smartphone continues and we remain one of the leading global adopters of the technology. Eighty-eight percent of Australians now own a smartphone, up from 84 percent last year. We are approaching the peak – maximum penetration rates for smartphones will likely be 90-95 percent. Globally, Norway, Netherlands, Ireland, and Luxembourg have surpassed the 90 percent threshold, with Norway topping the bunch at 92 percent. UK penetration rates are up four percent from 2016 to 85 percent and Canadian rates increased from 73 to 79 percent."

Source - https://www2.deloitte.com/au/mobile-consumer-survey

[nealeffendi]

Per the article maximum penetration rate of 90-95% still means 5% without, That is over a million potential clients that Commbank doesn't want to know.

[ausproofs]

100% agreed (however it wont be a million customers for commbank) ... In saying that the question banks have to ask themselves is what is the opportunity cost if the proposed solution is not available for that 5% of their customer base...


Note - 2017 commonwealth bank annual report indicates16.6M customers and 6.2M customers using  digital channels.

[Triggersmob]

Just because you have a smartphone doesn't mean to have access to the internet for apps etc. I am only on a cheap plan with my smartphone so I only use it for calls and text, no data. I was happy with my flip phone before, but the family dragged me kicking and screaming into the Telstra store to get this new phone.

[JeffH]

I have done some research and it seems that PayID is an optional extra and payments using BSB and account number may also be instant -the phrasing of the information does not quite make it clear.

From New Payments Platform site...
"If your bank, building society or credit union does not support all PayID types, you can still make and receive payments using a BSB and account number"
and
"Payments can be directed to accounts via an identifier called a PayID, which can be something easy to remember like a mobile phone number or email address. This means BSBs and Account Numbers don't always have to be used."

What a great site layout the NPPA has; simple, clear, easy to follow and not bloated with unnecessary pictures, animations and videos.