Skip to Content
Login
Close

Quick Links

Category: Articles

Forward with Ray: Finding Purpose in Data and Payments

Posted on by Rachael Shupe

Ray Ang found her purpose in an unexpected place: the complex world of financial data. As Senior Manager for Data Platforms, Governance and Data Risk at Cuscal, she is driven by the real, everyday impact payments have on people and communities. In this Q&A, our Women in Payments Awards nominee, shares how her team ensures data integrity across every transaction and why engaging diverse stakeholders is the key to success.


Could you tell us a bit about yourself and your role at Cuscal?

I’ve been at Cuscal for a year now. I initially joined as a Senior Manager for Data Governance to build a team focused on uplifting Cuscal’s overall ways of governing our data, in line with the regulatory requirements of being a financial institution.

Most recently, I’ve taken on additional responsibility, leading the team that manages our Data Platforms, Governance, and Data Risk. In this role, I set the direction for how we manage data and its associated risks across the entire lifecycle, ensuring we treat data as a strategic asset. This includes overseeing the development of new data solutions and strengthening data management and governance practices across Cuscal.


What’s the most interesting or exciting part of growing your career at Cuscal?

The environment at Cuscal is quite different from a large organisation. I previously worked at one of the “Big Four”, where I was very deep into one specific component of a large framework.

At Cuscal, I can focus on breadth rather than depth. I’ve been able to contribute my experience across different knowledge components, ensuring I can manage the whole data lifecycle and contribute widely, while leaving the deep specialisation to the experts on my team. The ability to drive end-to-end strategy here is far more exciting than at a big bank.


What sparked your initial interest in the payments industry, and how has your journey evolved since then?

Sometimes, working in a corporate data role, it’s difficult to explain to people how you meaningfully contribute to the community’s day-to-day life. My partner works at a hospital and sees that tangible impact every single day. In payments, we also make a difference, but it’s not always immediately visible to everyone.

The reason I moved to payments was that I wanted to find more purpose in my field. Now, I can directly see how I’m helping the Australian community make those essential daily payments at the grocery store or the medical centre.

We are a B2B organisation, serving banks, mutual banks, and fintechs so their customers can have real-time payments and more. My team manages the critical controls between our core systems and the settlement reports we send to our clients for regulatory compliance. If the data is incorrect, our clients cannot comply with financial regulations. Our work is crucial for ensuring transactions are accurate and reliable. That’s how my team helps keep the financial ecosystem running smoothly.


Can you share a pivotal moment or challenge in your career that shaped who you are today?

Early in my career, I was in management consultancy. I started as a graduate and was quickly exposed to how different industries operate and how to communicate with diverse stakeholders – from the C-Suite and middle management to the people actually executing the work. That was pivotal because it helped me build the skills needed to connect with, talk to and understand how any organisation operates.

In my data leadership role at Cuscal, I focus on bridging the gap between diverse data needs across the organisation. Everyone has different requirements for data, and it’s critical to understand the key outcomes expected by stakeholders—from data engineers to senior leadership. Whether it’s a request for NPP (New Payments Platform) statistics or RBA compliance, I interpret these needs and translate them into actionable tasks for my team.

This ability to communicate effectively at multiple levels and turn complex requirements into meaningful insights has been fundamental to my career—and it’s what makes data a true strategic asset at Cuscal.


What do you believe are the most significant changes or opportunities in the payments industry right now?

The payments industry is evolving rapidly from cash and cheques, to cards and now to instant payment products, like PayID® and NPP. Customers today expect speed, convenience and security, and that expectation is driving innovation.

The biggest opportunity lies in using data to understand how customers interact with payment products. These insights allow us to design solutions that are faster, smarter and more relevant. For Tier 2 and mutual banks, this is critical to staying competitive and trusted in a market dominated by larger institutions.

Another major shift is the rise of scams and fraud, which makes it essential to build resilient payment infrastructure that can withstand these threats while ensuring secure and seamless delivery of payments. Combining strong governance with innovation will be key to creating safe, reliable and customer-focused solutions.

Consumers should be given more options, empowering them to access payment solutions that suit their lifestyle while maintaining trust and security. The focus must be on innovating and delivering safe, compliant and customer-focused payment products that meet evolving expectations.


What advice would you give to others, especially women, looking to build a career in payments?

This is an area where, unfortunately, we don’t see as many women. My advice to women, or anyone curious about payments and data, is that there is space for you if you are willing to learn.
If you are curious, step into it. Find mentors who can encourage you to look beyond the current workforce, which is still quite male-dominated in this specific field.

Ultimately, you are the only person who can provide yourself with that opportunity. Don’t let yourself be the one who limits your potential.

Cuscal is proud to nominate Ray for a prestigious Women in Payments Award. These awards honour women payments professionals who have demonstrated exceptional leadership, innovation and promise. Find out more about the awards.


PayID® is a registered trademark of NPP Australia Limited.

Important Information: Information in this article is current as at 19 November 2025 and is subject to change. This article represents the opinions and views of the personal experiences of the panellists only. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business. Cuscal Limited ABN 95 087 822 455.

Forward with Lalita: The Power of Proactivity and Self-Investment

Posted on by Rachael Shupe

The payments industry is evolving faster than ever – and Lalita Babu is always one step ahead. Cuscal’s Senior Manager for Group Operational Risk has built a remarkable career on anticipating challenges before they arrive. In this Q&A, our Women in Payments Awards nominee discusses why self-education is non-negotiable, how to stay proactive in a reactive industry, and the major shifts reshaping operational risk in payments.


Could you tell us a bit about yourself – both your role at Cuscal and what you enjoy outside of work?

As Senior Manager for Group Operational Risk at Cuscal, my primary role involves driving the implementation of our risk management framework and actively partnering with the business. This ensures that all operational risks are managed effectively and remain within our defined risk appetite.

Outside of work, I really prioritise family time. Friday evenings are a ritual for my husband, kids and me – we play board games! It’s a great way to unwind after a busy week and set us up for the weekend.


What’s the most interesting or exciting part of growing your career at Cuscal?

I’ve been at Cuscal for four-and-a-half years and have moved through three roles: Compliance Manager for Open Banking, Domain Risk and Compliance Manager, and finally to Senior Manager of Group Operational Risk.

Naturally, I love learning, and Cuscal provides the perfect ground for it. No two days are the same in this fast-paced environment. Each new challenge is an opportunity to improve.

My career progression here has been exciting because each move broadened my expertise. I went from focusing on consumer data rights to managing the entire breadth of Cuscal’s operations, including payments, fraud, data issuing and acquiring, before moving into group-wide oversight and advisory. It’s helped me grow continuously in knowledge and breadth.

What sparked your initial interest in the payments industry, and how has your journey evolved since then?
Although I’ve been in financial services since 2005, my interest in the payments industry was sparked around 2018, when I began reading about data protection laws, such as Europe’s GDPR, and following Australia’s plan for the Consumer Data Right. When the open banking opportunity came up at Cuscal in 2021, I was ready to jump in.

Joining Cuscal was my real entry point into payments. I started learning about the entire payment processing value chain – from merchants and banks to payment processors and schemes. What I’ve realised is that this industry has evolved so rapidly due to new technology and changing consumer behaviour – we demand everything to be fast, quick and secure.

As a risk and compliance person, my mindset is always focused on what can go wrong in any process. This forces me to analyse the entire function and proactively prepare for risks. Self-learning has been key; you can never claim to know everything because something new comes up every single day.


Can you share a pivotal moment or challenge in your career that shaped who you are today?

I spent almost 13 years working in superannuation. At one point, I realised I needed to look outside my current domain. So, I decided to pursue a master’s degree in law to gain formal education on how to read and interpret legislation, case law and actual scenarios.

This was a turning point because it taught me that you don’t need to be bound by where you are currently working; you can always expand your knowledge if you’re ready to learn and put yourself out there.

That self-investment allowed me to successfully take the opportunity at Cuscal in 2021. Even though I was in superannuation, I had been following open banking and was prepared to make the transition. That period shaped my career by confirming the importance of not inhibiting yourself from taking those opportunities.


What do you believe are the most significant changes or opportunities in the payments industry right now?

The payments industry is practically defined by changing consumer behaviour. Consumer needs keep evolving, which drives new technology, innovation and regulations to manage those changes, and tougher competition.

From a risk perspective, fraud and scams are certainly front-of-mind for everyone. The industry needs to secure payments and ensure customers feel protected. Technology, particularly artificial intelligence, is going to play a huge part in preventing fraud and scams.

The other significant opportunity is embedded finance: integrating financial services into non-financial areas. Buy now, pay later is a great example of this. Embedded finance brings new ideas and easier ways of doing things for consumers.

For me, risk management is all about being proactive, not reactive. The more we know about how our world is changing, the better we can prepare.


What advice would you give to others, especially women, looking to build a career in payments?

In the past, people assumed you needed a finance degree to work in the financial sector. Now, I believe it doesn’t matter what your domain of expertise is – there’s always a role if you’re interested in how finance and payments function in the real world.

The most important advice I can give is to prioritise self-learning. Women often have very busy schedules outside of their 9-to-5 jobs, balancing family and other activities. Finding time to invest in your education is critical.

In my own career, making that investment opened doors I didn’t even know existed. We often wait for the “perfect” opportunity, but every single step you take matters. Keep investing time and energy in yourself, and you’ll realise you are preparing yourself for opportunities you didn’t see coming.

Cuscal is proud to nominate Lalita for a prestigious Women in Payments Award. These awards honour women payments professionals who have demonstrated exceptional leadership, innovation and promise. Find out more about the awards.


Important Information: Information in this article is current as at 17 November 2025 and is subject to change. This article represents the opinions and views of the personal experiences of the panellists only. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business. Cuscal Limited ABN 95 087 822 455.

Forward with Jackie: Driving DEI and People-First Leadership

Posted on by Rachael Shupe

When Jackie Gubanyi joined Cuscal four years ago, she saw an opportunity to drive real cultural change. Since then, our Senior Human Resources People and Culture Business Partner has spearheaded the company’s first Diversity, Equity and Inclusion strategy and Reflect Reconciliation Action Plan (RAP). Now as one of our Women in Payments Awards nominee’s, Jackie shares how she has created a more inclusive workplace, her thoughts on artificial intelligence’s impact on the payments industry and why taking a non-linear career path might be your greatest advantage.


Could you tell us a bit about yourself and your role at Cuscal?

I’ve been with Cuscal for four years, starting as a People and Culture Business Partner, and I was promoted to Senior People and Culture Business Partner in 2024. I’ve had the opportunity to support nearly every area of the business, which has given me an incredible, holistic view of Cuscal’s operations.

In a nutshell, my role is to ensure that Cuscal’s people have a great experience. That includes everything from engagement and culture to leadership coaching, organisational change and strategic workforce planning. It’s about creating a safe, legally compliant and genuinely inclusive environment where people feel empowered to bring their whole selves to work.


What’s the most interesting or exciting part of growing your career at Cuscal?

The fact that I’ve been empowered to spearhead so many amazing initiatives that have genuinely impacted the organisation. When I first joined, our formal diversity, equity and inclusion (DEI) framework was somewhat limited. I was incredibly passionate about that space, so I put my hand up and essentially volunteered to create one!

Creating a formal DEI strategy was a mammoth task. We developed our DEI strategy by actively listening to our employees—gathering their insights, lived experiences, and feedback to ensure our approach was inclusive, meaningful, and truly reflective of our organisational culture. We then wove those insights into all aspects of our employee life cycle, including our Environmental, Social and Governance (ESG) framework and our Employee Value Proposition (EVP).

I then realised we needed to go one step further and create our Reflect RAP. This was another year-and-a-half-long commitment, which involved creating a working group, deeply exploring Cuscal’s position on reconciliation, and commissioning the beautiful artwork that now represents our commitment. Getting the plan approved by Reconciliation Australia was no easy task, but an incredibly rewarding one.

My role has allowed me to lead these really big, interesting pieces of work. Being able to drive such profound cultural change while in a Business Partner role has been the most exciting part of my journey here.


What sparked your initial interest in the payments industry, and how has your journey evolved since then?

I’ve been in the payments industry for about 14 years now, including four with Cuscal. It’s simply a fascinating space to be in. It’s fast-paced and ever-changing. There’s always something happening, whether it’s new regulations, new products coming to market, or new players entering the field.
It is absolutely a growing space, not a dying industry. No matter what the currency – whether it’s through bartering, gold or digital transfers – we are always going to need to pay people. It’s an industry that’s foundational to modern commerce, and that constant evolution keeps it incredibly stimulating.


Can you share a pivotal moment or challenge in your career that shaped who you are today?

At my previous organisation, I began as an human resource (HR) generalist and later transitioned into employee relations (ER), where I focused on navigating complex and often sensitive people issues. Combining that ER expertise with my broader HR background gave me a unique and well-rounded perspective. This dual lens has been instrumental in shaping how I approach organisational culture and, importantly, how I contribute to DEI initiatives.

Understanding the nuances of employee relations has helped me recognise systemic barriers and advocate for fair, inclusive practices. It’s also enabled me to balance the need for a psychologically safe and empowering workplace with the operational realities of compliance and fairness. That foundation has been key to driving meaningful cultural change and embedding DEI into every aspect of how we work.


What do you believe are the most significant changes or opportunities in the payments industry right now?

As an HR professional, artificial intelligence (AI) is the biggest change. The massive question is: What does that mean for our employees?

This is a huge, ongoing organisational change, and we need to ensure people feel supported, safe and free to utilise these new technologies and skills. We need to help them understand that AI won’t necessarily impact their careers negatively; it will help their roles evolve.
This change touches every aspect of my role: upskilling, change management, and the safety and ethical considerations of it all. It’s massive, and it’s happening now.


What advice would you give to others, especially women, looking to build a career in payments?

Don’t be too fixated or hung up on the end game of your career. Take different roles and opportunities as they come to you. You need to gather exposure to different skills, capabilities and experiences because you never know where it will take you.

If someone suggests you consider an opportunity, consider it! Don’t just dismiss it because it doesn’t meet a rigid, defined career path. There is no linear approach to success. Gaining knowledge and experience across different areas is far more important to help you progress than following a predefined route.

Cuscal is proud to nominate Jackie for a prestigious Women in Payments Award. These awards honour women payments professionals who have demonstrated exceptional leadership, innovation and promise. Find out more about the awards.


Important Information: Information in this article is current as at 14 November 2025 and is subject to change. This article represents the opinions and views of the personal experiences of the panellists only. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business. Cuscal Limited ABN 95 087 822 455.

Forward with Pooja: The Product Pioneer Helping Shape Industry Milestones

Posted on by Rachael Shupe

Pooja Sainani has been involved in some of the most pivotal moments in Australian payments history. As Cuscal’s Product Solutions Manager and our inspiring Women in Payments Awards nominee, she is driven by the tangible impact of payments and technology on everyday life. In this Q&A, Pooja discusses her remarkable career journey, the fraud and scam challenges facing the industry, and why she is determined to “flip the narrative” about what it means to be the only woman in the room.


Could you tell us a bit about yourself – both your role at Cuscal and what you enjoy outside of work?

I currently work as a Product Solutions Manager within the newly created Product Solutions & Innovation team. We sit across all Cuscal’s products, engaging with technology, risk, legal and sales departments. We mainly work on new initiatives that align with Cuscal’s strategic objectives, whether they come from clients, industry trends or regulatory changes.

My career at Cuscal has been very progressive with organic growth. Before this role, I was a Client Solution Consultant and a Solutions Architect. As an Architect, I was a generalist – I designed technology for most of the services Cuscal offered, from acquiring and issuing to direct entry and disputes management. This gave me a broad, foundational understanding of everything we do, which is incredibly useful in my role now.

Outside of work, I have a nine-year-old daughter, and I love spending time with her. We love music and dancing. We do social line dancing, and we have a karaoke session every Friday. We are always karaoke ready!


What’s the most interesting or exciting part of growing your career at Cuscal?

Overall, I’ve been with Cuscal for 16 years, including five years at SPS (Strategic Payment Services), which Cuscal acquired in 2014. We joke at Cuscal that you either stay for two years or 20, and I’m definitely on the path to 20!

What’s been most exciting is that my growth has been organic and often sideways. I’ve had the opportunity to move into several newly created teams. Sometimes leaders saw potential in me and offered me these roles because I could highlight how my technical background, combined with client experience, would benefit new initiatives. Each move built on the last: as a Solutions Architect, I learned about products, which helped me in consulting, and my consulting experience helped me see the strategic and innovation side of what we could do in Product Solutions & Innovation.


What sparked your initial interest in the payments industry, and how has your journey evolved since then?

I started as an IT Developer, so my initial focus was on software development rather than payments. But I soon became fascinated by the tangible, real-life impact of the payments software I was building.

When I was developing solutions for ATMs and POS (Point of Sale) devices, whenever I went to a café or supermarket, I’d check what terminal they were using and think, “I know exactly how this works.” That fascination with seeing the technology I worked on affecting people’s everyday lives drew me deeper into payments.

The evolution of payments since 2012 has been immense. We’ve gone from going to an ATM to take out money to simply tapping our phones to pay at a shop. Of course, with these modern advances come serious challenges, like fraud and scams. I find this side fascinating, too. Solving these issues is critical because payments impact every single person. It is truly a people connection.


Can you share a pivotal moment or challenge in your career that shaped who you are today?

I’ve been lucky enough to be involved in a few defining moments in Australian payments history. One was when Cuscal partnered with Square, a fintech company from the United States, to support the launch of its services in Australia. I was a Solutions Architect at the time, and seeing the challenges involved in adapting a fintech platform to meet Australia’s unique payment regulations was fascinating and really deepened my understanding of the local landscape.

Another major moment was the launch of the ‘Pays’ mobile payments – Google Pay, Apple Pay, and Samsung Pay. I was part of the design process, working with these global companies, as well as Visa, MasterCard and eftpos. Designing the solution that made mobile payments possible for the entire nation across every POS device was incredibly exciting and rewarding. Being part of the eftpos Technology Steering Committee at that time also made me feel like I was part of something much bigger.


What do you believe are the most significant changes or opportunities in the payments industry right now?

Fraud and scams are the absolute centre of everything right now. Cuscal is in a very interesting position. Because we process payments and have vast datasets which are critical to fraud monitoring. It will be amazing to see Cuscal as a leader in Australia for fraud monitoring in future.

The most significant opportunity is to use data to help mitigate fraud and scams. For me, the correlation between advanced data usage and better fraud monitoring is where the industry needs to play to make things safer for everyone.


What advice would you give to others, especially women, looking to build a career in payments?

My first piece of advice for women in payments or any male-dominated industry is simple: If you think you belong at the table, you belong at the table. Don’t shy away from showing your capabilities because you fear they won’t be liked.

My second piece of advice is: Put your hand up for things outside your current function and teams. It gives you the platform to learn other parts of the business, meet different people, and also show other capabilities. I participate in various groups – recent ones being cyber champion and a responsiveness working group.

For young women, particularly in tech, I want to flip the narrative. I have often been the only woman – the first female developer in an organisation, the only female architect in the team. I never felt discouraged; I felt proud and encouraged as Cuscal is great at supporting talent. We need to build that confidence in girls, to acknowledge their capability, from a young age.

Cuscal is proud to nominate Pooja for a prestigious Women in Payments Award. These awards honour women payments professionals who have demonstrated exceptional leadership, innovation and promise. Find out more about the awards.


Google Pay is a trademark of Google LLC.
Apple Pay is a trademark of Apple Inc., registered in the U.S. and other countries.
Samsung Pay is a trademark or registered trademark of Samsung Electronics Co., Ltd.

Important Information: Information in this article is current as at 12 November 2025 and is subject to change. This article represents the opinions and views of the personal experiences of the panellists only. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business. Cuscal Limited ABN 95 087 822 455.

Curious Thinkers 25: Four Takeaways Shaping the Future of Finance

Posted on by Rachael Shupe

Last month, we welcomed over 200 clients and partners from across banking, fintech, and payments to Curious Thinkers 2025, our annual event.

The two-day experience invited clients and partners to step back from day-to-day pressures and explore the evolving relationship between humans and technology. Across keynotes, panels, and immersive sessions, discussions moved beyond the next trend or product to the bigger question: how can we build a digital future grounded in trust, empathy, and shared progress?

From artificial intelligence (AI) and identity to leadership and collaboration, the summit revealed four defining themes shaping the road ahead: AI with Purpose, Trust as Advantage, Human Leadership, and Collective Progress.

1. Using AI Responsibly and with Purpose

Artificial intelligence dominated the conversation as a powerful, immediate force reshaping the way we work, connect, and make decisions. The focus has shifted from what’s possible to what’s responsible: how can we harness AI’s potential while managing the risks it creates?

AI is already transforming fraud detection, compliance, and customer experience, unlocking new efficiency and insight, but its value depends on the strength of the systems behind it. This includes the integrity of data, the ethics guiding design, and the governance that ensures accountability. In other words, the race is not to move faster, but to move smarter.

Brad Daffy, Partner at KPMG, noted that while 42% of U.S. organisations already use agentic AI systems to automate workflows across customer service, software development and compliance, accountability remains a key concern.

He also raised that confidence in AI is low locally, with only 36% of Australian’s willing to trust it.

The leaders best positioned to succeed are those who balance ambition with awareness, pairing innovation with a mindset of curious caution. They recognise that sustainable progress requires both speed and control, ensuring AI enhances human decision-making rather than replacing it.

2. Rebuilding Trust Through Payments, Data, and Digital Identity

The conversations at Curious Thinkers underscored a shared reality: consumer confidence has been shaken by the industrial scale of scams, fragmented identity systems, and the erosion of digital privacy.

Sue-Lin Wong, award winning journalist, host of Scam Inc. & Asia Correspondent for the Economist, revealed that scam networks now rival the illegal drug trade, with an estimated global impact of over $500 billion.

Rebuilding that trust is now a collective priority. The path forward lies in creating a more secure, interoperable, and human-centred trust architecture that brings payments, data, and identity together. The convergence of these systems is already underway, paving the way for user-controlled digital identities and verifiable credentials that protect consumers without creating friction.

Marie Austenaa, Head of Digital Identity, Europe, Visa, pointed to the Europe’s eIDAS 2.0 framework as a model for interoperable identity systems.

The Hon. Victor Dominello projected that in Australia, a national digital ID framework could unlock $19–32 billion in annual productivity gains.

Such frameworks have the power to transform the experience of both customers and institutions, replacing cumbersome verification processes with seamless, secure authentication. They also create the foundation for a more resilient digital economy, where security and convenience can finally coexist.

For financial institutions, this shift represents both a challenge and a competitive opportunity. In a world where trust itself has become scarce, being seen as transparent, ethical, and protective of customer well-being is a brand advantage in its own right.

3. The Value of Human Leadership in a Digital World

Beneath the layers of technology and transformation, Curious Thinkers 2025 returned time and again to a single truth: progress is human.

Leaders today are operating in an era defined by complexity and constant change. There is a need for a new kind of leadership that prioritises empathy, resilience, and purpose alongside performance. The ability to connect meaningfully, inspire trust, and foster psychological safety within teams is no longer optional; it’s a strategic capability.

Dr. Adam Fraser, Founder of The Evolution Lab, highlighted the toll of digital transformation on frontline staff, including secondary traumatic stress. Fraser advised leaders to advocate for “psychological first aid” and support emotional wellbeing in the workplace.

Equally, the customer experience has emerged as the ultimate differentiator. In a world of near-instant payments and intelligent automation, it’s emotion that drives loyalty. Organisations that design around human needs, feelings, and expectations are those best placed to stand out in an increasingly commoditised market.

As the pace of change accelerates, so too does the pressure on people. The discussions highlighted a growing awareness of the human toll of digital transformation, from burnout to decision fatigue. Investing in wellbeing, emotional intelligence, and culture isn’t a “soft” initiative; it’s the bedrock of sustainable growth.

4. Driving Growth Through Collaboration

Perhaps the most urgent takeaway is that no organisation can navigate this transformation alone. The challenges facing the payments ecosystem have outgrown the capacity of individual players.

Collaboration has shifted from being a strategic option to an operational necessity. The future will be built on shared infrastructure, collective intelligence, and cross-sector partnerships that balance innovation with inclusion. This ecosystem mindset is already evident in global initiatives that blend public policy, private investment, and regulatory design — and it’s gaining momentum in Australia.

Marie Austenaa described the EU’s digital identity pilots as examples of successful public-private co-creation. Breaking down silos and aligning around common standards will be critical to the next phase of industry progress.

Looking Ahead: Turning Shared Insight into Collective Action

The future of payments will be defined not by how quickly technology evolves, but by how responsibly and collaboratively we use it.

As AI, data, and digital identity continue to reshape the landscape, the real measure of progress will be trust. Trust in systems, in institutions, and in each other. By leading with purpose, empathy, and partnership, the industry can move beyond adaptation to true transformation.

Important Information: The information in this article is current as at 20 & 21 October 2025 and is subject to change. This information is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business. Cuscal Limited ABN 95 087 822 455.

Wear It Purple Day 2025

Posted on by Rachael Shupe

Each year, on the last Friday of August, we come together to celebrate Wear It Purple Day, a powerful movement that champions safe, supportive, and inclusive environments for LGBTQIA+ youth. What began in 2010 as a student-led response to the tragic consequences of bullying and harassment has grown into an international movement of visibility, love, and solidarity.

The 2025 theme, ‘Bold Voices, Bright Futures’ celebrates LGBTQIA+ individuals living authentically and achieving their dreams in all areas of their lives, from sport and science to art and advocacy.

It’s a reminder that when we create inclusive spaces, we empower people to thrive.

At Cuscal, we believe that diversity, equity, and inclusion are not just values, they are commitments. We’re proud to support Wear It Purple Day; to celebrate the LGBTQIA+ community, both within and outside our workplace, to help build a culture where everyone feels seen, heard, and valued.

Whether you’re part of the LGBTQIA+ community or an ally, your voice and support matters. By wearing purple on 29 August 2025, you’re helping to create a brighter, more inclusive future for all.

Important Information: The information in this video is current as at 28 August 2025 and is subject to change. Cuscal Limited ABN 95 087 822 455.

Behind the Transaction: The Engine Powering Australia’s Payment Future

Posted on by Rachael Shupe

In the time it takes to buy your morning coffee, over 1,500 invisible transactions have already silently pulsed across Australia. Each one representing a meal purchased, a bill paid, or a business deal closed.

This invisible network is the heartbeat of our economy, powering everything from everyday payments at the checkout to multi-million-dollar business deals. Yet few stop to think about the sophisticated technology behind it all.

From Cash to Code: The Seismic Shift in How We Pay

Not so long ago, cash was king, cheques were more common, and digital wallets were science fiction. Today, we’re living in a payment revolution that’s transforming how business gets done.

From tap-and-go to PayIDs and digital wallets, we’ve shifted from physical to digital, from delayed to real-time, and from passive transactions to dynamic customer experiences. This isn’t just evolution—it’s a complete reinvention of how money moves.

Rethinking Payments: Your Untapped Business Advantage

For today’s businesses, payments aren’t just a necessity—they’re a strategic advantage. They’re how innovative companies:

  • Deepen loyalty and lifetime value.
  • Streamline operations and scale efficiently.
  • Unlock insights through data.
  • Deliver better customer outcomes, faster.

Businesses like yours are behind some of the most cutting-edge payment experiences used today. And who is powering those experiences? We are.

Powering $450B+ in Payments Per Year: The Cuscal Story

Since 1966, we’ve been the invisible force redefining payments in Australia. We’ve helped Australian businesses unlock the opportunity of each new wave of innovation, from launching Australia’s first ATM enabling secure, compliant data exchange.

Today, we’re tackling the big challenges: advancing open banking, fighting sophisticated fraud, and building tomorrow’s payment infrastructure.

Outside of the major banks, we’re the largest centralised provider of payment infrastructure connectivity in the Australian payments industry. We combine:

  • The licensing, capital strength, and regulatory credibility of an ADI,
  • The agility and innovation of a fintech,
  • A history of disciplined disruption, and
  • The resilience and security of a trusted, long-term partner.

We’re transforming the future of how money moves and how Australia does business.

Cuscal’s Impact in Numbers

Since our inception, we’ve partnered with forward-thinking businesses.

Payments aren’t one-size-fits-all. We collaborate with financial institutions, fintechs, and corporates — from superannuation funds and insurers to loyalty program providers — to enhance their customer experience through payments, working with them to deliver tailored solutions to meet their unique needs.

What’s Next: The Future of Digital Payments

The payment landscape continues to evolve at breakneck speed. From blockchain to biometrics, from embedded finance to invisible payments—the next wave of innovation is already here.

By delivering faster, safer, and smarter payment experiences, we’re transforming how money moves, supporting competition, and powering Australia’s progress—one transaction at a time.

Whether you’re a bank expanding its offering, a fintech scaling new products or any enterprise- sized business that’s powered by the ability to take and make payments, we’re your partner for what’s next.

Important Information: Information in this article is current as at 27 August 2025 and is subject to change. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business Cuscal Limited ABN 95 087 822 455.

Rebecca Tissington Appointed Head of Strategic Growth

Posted on by Rachael Shupe
Picture of Bec Tissington

After an extensive market search, we are delighted to announce the appointment of Rebecca Tissington to the newly created role of Head of Strategic Growth at Cuscal.

Bec joined Cuscal through our acquisition of regulated data business Basiq, and was appointed Head of Strategic Partnerships in November 2024. Since May 2025, she has been simultaneously acting as Head of Business Development.

At Basiq and at Cuscal, Bec has brought exceptional energy, focus, and drive. Her appointment reflects not only her deep expertise but the significant impact she’s already made across the business.

Commenting on the appointment, Cuscal Chief Client Officer, Michael Blomfield said: “Bec is the ideal candidate to lead the growth components of our FY25-29 strategy to secure, extend, expand and drive our business forward. She brings an ideal mix of deep care for our clients and a highly specialised understanding of the market and where it’s heading.”

Previously, Bec has led successful business development and partnership teams in senior roles at Visa, Citi, and CBA, as well as at high-growth fintech scale-up, Basiq. Whether launching Australia’s first virtual card via Conferma, negotiating white-label credit card deals, or supporting the first NFC Tap n Pay transaction for Cuscal and Credit Union Australia while at Visa, Bec has a strong track record of bringing innovation to market through collaboration and execution.

Away from work, she’s a passionate foodie, mother of two, advocate for sustainable urban planning and a regular speaker on fintech innovation. With energy, authenticity, and a relentless focus on transformational outcomes, Bec isn’t just navigating the future—she’s moving payments forward.

Congratulations Bec on your appointment.

Four Technologies Transforming Australian Payments

Posted on by Rachael Shupe
Lady making a payment with a card at a POS terminal.

The way Australians pay is changing rapidly. Industry leaders discussed the technology reshaping the future of payments in Australia at Cuscal’s Curious Thinkers 2024.

From speed and security to customer experience and fraud prevention, these innovations are creating new opportunities (and challenges) for the payments landscape.

Below, we recap four key technologies discussed by panelists: Real-time Payments, Digital Wallets, Digital Identity, and Data.

1. Real-time Payments

Real-time payments deliver instant, account-to-account transfers, boosting cash flow and eliminating settlement delays. PayTo, a feature of Australia’s New Payments Platform (NPP), offers both businesses and consumers more visibility and control over their payments while maintaining security and privacy.

Real-time payments are already proving effective across multiple industries, including retail, utilities, and government transactions, reinforcing their long-term viability and reliability.

Many Australians still default to traditional card payments, making widespread adoption slower than expected. However, panelists noted that once users try PayTo, they consistently choose it for its convenience and security.

“What we are finding is people, once they’ve used it … they really like it…We’re certainly seeing the proof that real-time account-to-account can be used in many, many situations.”
Tom Rundle, Chief Product Officer, Azupay

Set-up for success

Driving adoption of real-time payments will take effort from both banks and businesses, including:

  • Optimising business integration: Ensuring backend systems support real-time reconciliation and reporting will help businesses transition smoothly.
  • Strengthening security and trust: Clear fraud prevention measures and robust consumer protections will reassure users and encourage uptake.
  • Raising consumer awareness: Educating customers on the benefits of real-time payments, such as speed, reliability, and security, will boost confidence and usage.


2. Digital Wallets

Digital wallets let users store payment cards on their smartphones or wearable devices to make quick, secure payments in stores, online, and in apps. Instead of using a physical card, users can tap and pay at contactless terminals or authorise transactions digitally.

Digital wallets have become a go-to payment method in Australia.

According to the RBA, Australians made over 398 million mobile wallet payments in February 2025, totaling more than $16.6 billion across both credit and debit cards.

“Consumers expect payments to be as seamless as the services they use. Digital wallets fit that expectation.” Tom Rundle, Chief Product Officer, Azupay

Set-up for success

Key enablers that will help drive adoption include:

  • Provider agnostic solutions: Implementing solutions that support multiple digital wallet providers.
  • Complementing real-time payments: Understanding when and how to offer both digital wallets and real-time payments to meet consumer expectations for convenience and security.


3. Digital Identity

Digital identity will play a key role in the future of payments in Australia. Strong verification mechanisms, such as biometric authentication and government-issued digital IDs, will be crucial in reducing fraud and enhancing transaction security.

Biometric authentication is already playing a role in how Australians access financial services, with many institutions using tools like facial recognition and fingerprint scanning to verify users.

“Digital identity [enables] two things. It’s who are you? And the other thing is what are you allowed to do? And often [not all parties to a payment] need both of those pieces.” Tom Rundle, Chief Product Officer, Azupay

Set-up for success

Key enablers that will help drive adoption include:

  • Building consumer trust: Consumers need confidence that their digital identity is secure, private, and protected against misuse.
  • Interoperability across systems: A widely accepted digital identity must integrate seamlessly across financial institutions, businesses, and government services.


4. Transaction Data

Data is transforming payment ecosystems, helping businesses enhance fraud detection, improve customer experiences, and streamline reconciliation.

More Australian businesses are harnessing structured payment data to improve reconciliation and fraud detection. AI-powered analytics are enabling financial institutions to identify suspicious transactions in real time. Additionally, data-driven decision-making is helping businesses streamline payments, cut operational costs, and enhance security.

Set-up for success

Key enablers that will help drive adoption include:

  • Accurate data: Ensure data accuracy to prevent processing errors.
  • Data standardisation: Industry-standard formats to ensure interoperability across financial networks.
  • Prioritise privacy and security: Strong security and privacy measures to maintain consumer trust and regulatory compliance.


Bringing it all together

The payments landscape in Australia is evolving rapidly, driven by real-time transactions, digital wallets, digital identity, and data innovation.

These technologies offer immense benefits, from faster and more secure payments to enhanced customer experiences. However, successful adoption depends on trust, seamless integration, and consumer awareness.

This article builds on the insights from the first in our series, which explored how businesses can create a consumer-centred payment system to drive loyalty.

References
Reserve Bank of Australia, ‘C1.1 Credit and Charge Cards – Original Series’ and ‘C2.1 Debit Cards – Original Series’, Reserve Bank of Australia website, statistical tables, February 2025, accessed 30 April 2025, <https://www.rba.gov.au/statistics/tables/xls/c01-1-hist.xlsx, and https://www.rba.gov.au/statistics/tables/xls/c02-1-hist.xlsx>

Important Information: Information in this article is current as at 16 May 2025 and is subject to change. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business Cuscal Limited ABN 95 087 822 455.

How to Make a Payments Experience Drive Loyalty

Posted on by Rachael Shupe
Lady on the lounge using her tablet and paying for something with her card.

Did you know that, according to a recent report from Xero, 25% of consumers would visit another business if their preferred payment method wasn’t available? These days, payments are more than just transactions – they are make-or-break moments for customer retention.

The importance of consumer-centred payment systems was a key theme at Cuscal’s Curious Thinkers 2024 event. The panel highlighted why businesses must rethink their payment systems to align with consumer expectations and offer seamless, secure, and flexible options.

Below, we explore the shifting landscape of consumer payments, why businesses must prioritise a consumer-centred approach, and steps they can take to enhance the payment experience for their customers.

Meeting Consumer Expectations: The Changing Payments Landscape
Consumers today expect more choice, transparency, and security in their payment interactions. The rise of digital wallets, real-time payments, and buy-now-pay-later (BNPL) solutions reflect this demand.

The report from Xero on how businesses and consumers are making and taking payments found that:

  • 38% of consumers experience frustration when their preferred payment method isn’t available.
  • 26% cite limited payment options as a reason for dissatisfaction.
  • 25% would visit another business that accepts more payment methods.

These statistics underscore the need for businesses to offer diverse, frictionless payment options to meet evolving consumer expectations.

Beyond Transactions: Why Payment Experience Matters
Have you ever abandoned a purchase because the checkout process was too complicated or a payment option you preferred wasn’t available?

Payments are an essential touchpoint in the purchase process that can influence customer satisfaction and brand perception, for better or worse. Whether it’s a quick tap at a café or a major online purchase, a seamless payment experience can foster trust and build loyalty.

The rapid growth of e-commerce has been a major driver of this shift. Take Amazon, for example. Its one-click payment system revolutionised online shopping by eliminating unnecessary steps and reducing checkout friction. Similarly, Apple Pay and Google PayTM have redefined mobile transactions by allowing secure, instant payments with minimal effort.

Consumers accustomed to fast and frictionless online payments expect the same convenience across all channels. For businesses, this means:

  • Delivering on speed and simplicity: Customers expect fast and intuitive transactions.
  • Ensuring security and privacy to build trust: Clear authentication measures without unnecessary hurdles.
  • Offering choice and flexibility: Multiple payment options to cater to different preferences.
  • Managing complexity: Ensuring smooth integration and efficient backend systems while offering more payment options.

How Businesses Can Create Better Payment Experiences
Developing a consumer-centred payment system requires practical steps and thoughtful strategies. Below are recommendations from Cuscal’s Head of Payments & Innovation, Nathan Churchward, on how businesses can create a better payment experience for customers.

Know Your Customers, Meet Their Needs
Businesses must assess their customers’ behaviour and preferences to tailor payment solutions. Different demographics and business types have unique payment needs, so offering a one-size-fits-all solution may not be effective. Local payment providers can offer practical solutions to help businesses choose the best payment options for their customers.

Listening to consumer feedback is also key. Understanding and addressing pain points in the payment journey helps refine strategies, improve the experience, and build trust with customers.

Make Payments Effortless and Secure
A great payment experience should be both effortless and secure. Tokenisation helps by reducing the number of times customers need to enter their card details, making transactions smoother while keeping data safe. Digital wallets like Apple Pay simplify the process even further, allowing for fast, secure payments with a single tap. The best solutions remove friction and enhance security without adding extra steps.

Empower Customers Through Information
Customers feel more confident when they understand how different payment options work and what benefits they offer. Businesses that educate customers on their choices (especially when encouraging a preferred payment method) build trust and transparency.

If using surcharges to guide payment decisions, pairing them with clear explanations ensures customers see the value rather than just the cost. It’s also important to reassure customers about security, especially for prepaid services or payments made in advance, by highlighting measures in place to protect their funds.

Seamless Payments, Streamlined Experience
Payments should work in real-time and integrate seamlessly into business operations. Traditionally, card payments have led the way in integration and instant processing, but newer options like NPP and PayTo are catching up. The challenge has been ensuring these payment types update systems in real-time for smoother reconciliation and automation.

Businesses should seek payment providers that offer real-time payment APIs to maintain efficiency without compromise. PayTo, for example, enhances integration by eliminating the need for customers to manually enter details, allowing businesses to pass transaction data directly to the customer’s bank for easy authorisation. The right payment solutions should support automation, reduce manual processing, and improve the overall payment experience for both businesses and customers.

Prioritising Consumer Needs for Long-Term Success
A truly consumer-centred payment system goes beyond technology. It requires a deep understanding of customer behaviour, a commitment to security, and an effort to educate users. Businesses that align their payment strategies with consumer needs will enhance customer satisfaction and drive loyalty and long-term growth.

By investing in seamless, secure, and flexible payment solutions, businesses can transform payments from a transaction into a competitive advantage.

References
ANZ Subject Matter Experts 2024, ‘The digital payment revolution: what businesses need to know’, ANZ Insights website, article, 6 November 2024, article, accessed 17 February 2025, <https://www.anz.com/institutional/insights/articles/2024-10/the-digital-payment-revolution>

ANZ Worldline 2024, ‘Why Chief Market Officers should prioritise their payment strategy Part I’, ANZ Worldline website, article, 9 September 2022, accessed 17 February 2025, <https://anzworldline.com.au/en/home/knowledge-hub/blogs/why-chief-market-officers-should-prioritise-their-payment-strate>

Xero 2024, ‘I want to pay that way’, Xero website, report, 2024, accessed 17 February 2025, <http://www.xero.com/campaign/i-want-to-pay-that-way>

Knowledge at Wharton Staff 2017, ‘Why Amazon’s ‘1-Click’ Ordering Was a Game Changer’, Knowledge at Wharton website, podcast and article, 14 September 2017, accessed 11 March 2025, <https://knowledge.wharton.upenn.edu/podcast/knowledge-at-wharton-podcast/amazons-1-click-goes-off-patent>

Google Pay is a trademark of Google LLC.
Apple Pay is a trademark of Apple Inc., registered in the U.S. and other countries.

Important Information: Information in this article is current as at 14 March 2025 and is subject to change. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business Cuscal Limited ABN 95 087 822 455.