Recently the Australian Banking Association (ABA) and participating member banks launched the "Australian Banks: Working to Protect You" campaign to help protect customers against the growing threat of scams. During this campaign, the ABA highlighted that PayID helps to stop scams because unlike traditional payments, the payer can see a confirmation screen with the intended payee's PayID name before making the payment.
Here, Christine Cupitt, Chief of Policy & Strategy ABA, discusses the types of scams we are seeing in the Australian market and the role PayID is playing to help protect Australian consumers and businesses.